Holloman Energy Pursues Gippsland Basin Seismic

Houston, TX (GLOBE NEWSWIRE) -- Holloman Energy Corporation (OTCBB:HENC) announces 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.

About Holloman Energy

Holloman Energy Corporation is an emerging international exploration and development independent. The Company currently holds interests, varying between 66.66% and 100%, in seven oil and gas permits awarded by the Australian government. These permits encompass in excess of 1.7 million acres in the Cooper, Gippsland and Barrow basins.

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 update publicly 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.

SOURCE: Holloman Energy Corporation

© Copyright 2009, GlobeNewswire, Inc. All Rights Reserved.