Holloman Energy Corp. reported Tuesday that the Baikal #1 exploration well on Petroleum Exploration License (PEL) 444 in South Australia's Cooper Basin is expected to spud early December.
Senex Energy Limited has been engaged to manage the drilling services on behalf of Holloman's joint venture with Terra Nova Energy Ltd. and others. The Baikal #1 will be drilled as a vertical slim-hole well to an expected depth of 6,700 feet (2,050 meters, and will take approximately 11 days to reach Total Depth. The well will target the mid-Birkhead channel sands. If Baikal #1 shows to be successful the well would be used as a production well.
About Holloman Energy
Holloman is focused on exploring and producing oil in Australia's Cooper Basin. Holloman's Cooper Basin licenses include interests in PEL 112 and PEL 444 which currently comprise approximately 850,000 gross acres, 413,000 net acres (3,444 square kilometers) on the prolific Western Margin of Australia's Cooper - Eromanga Basin.
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