HOUSTON, April 22, 2010 (GLOBE NEWSWIRE) -- In August 2009, Holloman Energy Corporation (OTCBB:HENC) retained Macquarie Tristone to assist in finding a joint venture partner to share all, or part, of the costs of exploring and developing its Cooper Basin concessions.
Holloman established data rooms where technical, environmental and economic information related to its Cooper Basin holdings was made available to qualified parties. Access to data rooms began January 14, 2010 under strict confidentiality agreement. Non-binding joint venture proposals were solicited March 9, 2010.
Holloman has received multiple offers or firm expressions of interest from potential joint venture partners as a result of this process. Holloman is currently reviewing and responding to the content of these proposals to determine which, if any, are acceptable. Holloman is under no obligation to complete any proposed transaction.
About Holloman Energy
Holloman Energy Corporation is focused on exploring and producing oil in Australia's Cooper Basin. Holloman's Cooper Basin leases include 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.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to publically update any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS
Holloman Energy Corporation
http://www.hollomanenergy.com