Holloman Energy Pursues Gippsland Basin Seismic

Holloman Energy has announced its participation in a Combined Southern Offshore Basins Heads Of Agreement. This contingent agreement between Enquest Pty Ltd. and Holloman (in consortium with a number of exploration enterprises) is targeted at the acquisition of 3D seismic data in the offshore basins of southern Australia and New Zealand. Holloman's VIC P60 permit, located in the Gippsland basin, is included in the scope of the contemplated survey.

"This heads of agreement complements our current efforts to raise new capital," stated Mark Stevenson, CEO of Holloman Energy. "We hope to work with Enquest to gather the seismic data we need to assess the full market potential of our Gippsland basin assets."

Holloman Energy holds a 100% working interest in the Vic P60 permit, which comprises 1,375 square kilometers (339,769 acres) in the Bass Strait of the Gippsland basin in Victoria, Australia.