Holloman Energy announced the selection of Perth-based ISIS Petroleum Consultants Pty Ltd as engineering advisor for its planned seismic campaign in South Australia's Cooper Basin. ISIS has been contracted to provide a full range of services including; technical and management support for the design, tendering, acquisition, processing and statutory reporting for 3D and 2D seismic surveys on PEL 112 and PEL 444.
Recent drilling successes by Beach Petroleum, Cooper Energy and Victoria Petroleum on adjoining leases has prompted Holloman Energy's management to undertake the planning of a 3D and/or dense 2D seismic campaign on a portion of its Cooper Basin properties. Current plans include a primary focus on the northeast corner of PEL 112 and a secondary focus southeast corner of PEL 444. ISIS Petroleum Consultants is an independent and internationally recognized petroleum engineering firm.
"We believe the addition of ISIS is the next logical step," stated Mark Stevenson, CEO of Holloman Energy. "Their experience in the Cooper Basin and independent perspective adds valuable technical input. We look forward to working with them to maximize the value of our Cooper assets."
Holloman Energy holds interests in PEL 112 and PEL 444 which comprise 4,544 Sq km (1.125 million acres) in the southwest and northwest sectors of Australia's prolific Cooper -- Eromanga Basin. The Company anticipates that seismic acquisition and a multi-well drilling program to begin exploration of the leases will require expenditures in excess of $11,000,000.
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