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Holloman Energy Corp (HENC)

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Last Post: 11/14/2017 8:41:44 AM - Followers: 93 - Board type: Free - Posts Today: 0

 


http://www.hollomancorp.com/
http://www.hollomanenergy.com/

 

Recent drilling adjacent to PEL 112 has resulted in 20 of 27 wells drilled successfully with initial production rates ranging up to 3,000 barrels of oil per day. In 2008-2009 alone, eight new oil fields from 30km to 12km from PEL 112 were discovered containing from 1 to 11 million barrels of unrisked in-place prospective resources. 

Our financial objective is to provide exceptional results and sustainable performance to our shareholders. At Holloman Energy, we believe a focus on the basics can deliver exceptional results

 


 

STOCKHOLDERS' EQUITY
               
Authorized:
               
    10,000,000 preferred shares, par value $0.001 per share
               
    150,000,000 common shares, par value $0.001 per share
               
Issued and outstanding:
               
    109,069,785 common shares (108,997,599 at December 31, 2011)
    109,070      108,998 
 
  Total Stockholders' Equity
    11,580,140       



About Holloman Energy

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Holloman Energy Corporation

Holloman Energy explores for oil and gas in Australia. We trade on the US OTC BB under the Symbol "HENC". Our controlling shareholder is Houston-based Holloman Corporation, one of the largest employee-owned engineering and construction companies in the United States. As a result of that relationship, we have the benefit of support generally unavailable to companies our size.

We have working interests in 4,544 square kilometers (1.125 million gross acres) in two licenses on one of the most significant emerging oil trends in Australia's renowned Cooper Basin.

 

Here are some important facts:

  • The Cooper Basin has sourced over 4 billion barrels of oil and 5 trillion cubic feet of recoverable gas.
     
  • In December 2009 successful bids on Cooper Basin exploration leases drew exploration expenditures in excess of AUD$145 million… the highest gauranteed bid was on acreage abutting our PEL 112 holdings.
     
  • We have identified 38 leads on our PEL 112 concession alone. Five of those leads targeted for evaluation were determined to contain mean unrisked in-place prospective resources ranging from 56 million barrels to 70 million barrels.
     
  • Recent evaluations by independent Australian-based engineers suggest the net present value (@10%) of each field containing 5 million barrels of recoverable resource would be $100,000,000 to the 100% working Interest
     
  • The Australian exploration environment is very favorable. It is essentially underexplored and has little, if any, geo-political risk. 
     
  • We are currently seeking joint venture partners to join in the exploration and development of our oil properties. Global industry giant Macquarie/Tristone is acting as exclusive advisor to facilitate that search  (click here).

Our neighbors have been very successful at finding and producing oil. Here is a snapshot:

Recent drilling adjacent to PEL 112 has resulted in 20 of 27 wells drilled successfully with initial production rates ranging up to 3,000 barrels of oil per day. In 2008-2009 alone, eight new oil fields from 30km to 12km from PEL 112 were discovered containing from 1 to 11 million barrels of unrisked in-place prospective resources. 

Our financial objective is to provide exceptional results and sustainable performance to our shareholders. At Holloman Energy, we believe a focus on the basics can deliver exceptional results

 

 

 

Management

 

 Executive Management team consists of:  

Mark Stevenson, President and Chief Executive Officer (CEO)

On July 1, 2009 Mark Stevenson was appointed to the positions of President and CEO  of Holloman Energy Corporation. Mark Stevenson became a member of our Board of Directors on September 20, 2007 and was elected Chairman of that Board on January 4, 2008. Mr. Stevenson has been the President and Chief Executive Officer of Holloman Corporation (Houston, TX) since July 1998. Holloman Corporation is one of the largest employee owned engineering and construction companies in the United States. Prior to his appointment as President, Mr. Stevenson was employed by Holloman Corporation as Executive Vice President (1997-1998), Vice President - Pipeline Division (1979-1997) chief estimator (1977-1979) and field construction engineer (1976-1977). He joined Holloman Corporation in 1976, after receiving his B.S. in Construction Engineering from Texas Tech University in Lubbock.

Eric Prim, Chief Operating Officer (COO)

On July 22, 2009 Eric Prim, a current member of our Board of Directors was appointed as  Chief Operating Officer. Eric Prim joined our Board of Directors on September 20, 2007. Mr. Prim has been the Vice President of Engineering and Construction of Holloman Corporation since 1997. Prior to his association with Holloman, Mr. Prim held senior technical management positions with Hunt Energy and Rexene Corporation. Mr. Prim is a registered Professional Engineer in Texas and holds six issued or pending U.S. Patents, all pertaining to energy technology.

Robert Wesolek, CPA,  Chief Financial Officer (CFO)

Bob Wesolek, has more than 30 years senior executive experience in both public accounting and private industry. Since leaving his role as senior practice manager with Arthur Andersen & Co. in 1988, Mr. Wesolek has acted as senior financial officer for five publicly traded corporations. He has also provided financial consulting services to Holloman Energy Corporation since January 2008. Wesolek's background provides wide-ranging public experience with a well-developed focus on executive financial management, accounting, regulatory compliance, internal controls and information architecture.


Roy Whiting, VP Operations - Australia

Whiting has over 30 years experience with major oil company's in various US and international settings. A degreed Physicist with diversified educational background in business strategy, project planning, and time management. Roy's qualifications include commercial oil and gas exploration, operation, production, and development planning, acquisition and joint venture management. Technical abilities include offshore/ onshore assessment, analyzing surface and subsurface structural and Stratigraphic interpretation using SMT 2D \ 3D software.

John Risinger, Field Operations Engineer - Australia

John has had a diversified career in exploration, production, drilling, and operations spanning more than 40 years. He has held various international and domestic drilling supervisory roles and managed a wide range of large scale exploration drilling programs on a turnkey basis, often in extremely remote areas. His expertise includes strategic management, process engineering, safety and technical reviews, due diligence, feasibility studies, training and auditing.









Released: 05/15/12 08:15 AM EDT
Holloman Energy Completes Terra Nova Farm-Out

HOUSTON, May 15, 2012 (GLOBE NEWSWIRE) -- Holloman Energy Corporation (HENC.OB) announces completion of a definitive farm-out agreement with Terra Nova Minerals Inc. on the exploration of its Australian Cooper Basin holdings (the "Farm-Out"). The Farm-Out, which was made effective May 11, 2012, set out terms by which Terra Nova may earn a 55% working interest in Holloman's PEL 112 and PEL 444 concessions by funding seismic acquisition and a six (6) well drilling program on the properties.

"The execution of the Terra Nova Farm-Out significantly enhances our exploration capacity," stated Mark Stevenson, Holloman CEO. "We have been informed that the first AUD$4,700,000 payable under the Farm-Out has already been transferred to escrow. We have also been advised that Terra Nova intends to undertake seismic acquisition on PEL 112 and PEL 444 at the first possible opportunity."

On May 11, 2012, Terra Nova closed an equity financing for gross proceeds of $10,652,000. The financing was pursued in connection with its undertaking of the Farm-Out. Macquarie Private Wealth Inc. acted as agent for the transaction.

General Terms of the Farm-Out

The Farm-Out provides terms under which Terra Nova may earn a 55% undivided working interest in PEL 112 and PEL 444 (the "Farm-Out Interest").

During March and April 2012, Terra Nova paid Holloman non-refundable fees totaling $200,000 and, on or before May 25, 2012, will pay Holloman, ACOR and Sakahi (collectively the "Current Working Interest Partners") in PEL 112 and PEL 444, a total of 1,000,000 shares of their common stock with a current market value of approximately $290,000. On May 11, 2012, Terra Nova also paid Holloman an additional fee of $150,000. Holloman has agreed to provide Sakhai and ACOR a full accounting for its use of the Terra Nova fees (totaling $350,000). Holloman has further agreed to share with ACOR and Sakhai, any excess of the fees over the transaction costs it incurs in connection with the Farm-Out. Terra Nova's common stock and any excess fees will be distributed among the Current Working Interest Partners in accordance with their working interest percentages in PEL 112 and PEL 444 on May 11, 2012.

To earn the Farm-Out Interest, Terra Nova is required to fund exploration and development expenditures (the "Earning Obligations") totaling at least AUD$13,700,000 (USD$14,300,000) including:

  • AUD$4,700,000 (USD$4,900,000) to be placed in escrow on or before May 25, 2012 for use in the completion of a seismic acquisition program sufficient to meet the minimum seismic acquisition requirements, and interpretation of the acquired data for PEL 112 and PEL 444 (earning a 20% working interest in each license); and
  • AUD$4,500,000 (USD$4,700,000) to be placed in escrow on or before November 1, 2012 to secure Terra Nova's obligation to sole fund the dry-hole costs of an initial three (3) well drilling program on either PEL 112 or PEL 444, provided that at least one well is drilled on each license (earning a working interest of 5.833% per well in each license, totaling a working interest of 17.5%); and
  • AUD$4,500,000 (USD$4,700,000) to be placed in escrow on or before the later of March 1, 2013 or 45 days following completion or abandonment of the third well in the initial well program, for use in funding the first AUD$4,500,000 in dry-hole costs of an optional three (3) well drilling program on either PEL 112 or PEL 444, provided that at least one well is drilled on each license (earning a working interest of 5.833% per well in each license, totaling a working interest of 17.5%).

Terra Nova will act as operator with respect to seismic acquisition on PEL 444 and all drilling work contemplated by the Farm-Out.

Costs incurred in relation to the seismic Earning Obligations in excess of AUD $4,700,000, if any, shall be borne by Terra Nova and the Current Working Interest Partners in accordance with their Working Interest percentages calculated as though Terra Nova had successfully completed all of its Earning Obligations and earned the Farm-In Interest.

In the event Terra Nova elects to complete either or both of the first two wells drilled in connection with the initial three well drilling program, Terra Nova will pay 50% of the completion cost and Holloman will pay the other 50% of the completion costs. In the event Terra Nova elects to complete the third well drilled in connection with the initial three well drilling program, or any well drilled in connection with the optional three well drilling program, Terra Nova will pay 50% of the completion cost and the Current Working Interest Partners will pay the other 50% of the completion costs in proportion to their working interests on May 11, 2012.

In the event any well drilled in connection with either the initial or optional drilling programs is commercially viable, and Terra Nova elects to complete such well, Terra Nova will be entitled to a preferential recovery of one hundred percent of the costs it has paid to drill and test that successful well. Terra Nova is entitled to 80% of the production from that well until either the well has ceased production or Terra Nova has received net revenue equal to the costs it has paid to drill and test the well, whichever occurs first.

Terra Nova will earn the Farm-Out Interest in portions based upon successful completion of specific Earning Obligations. In each instance, the Current Working Interest Partners will each contribute a portion of the working interest earned by Terra Nova. In the event Terra Nova earns the entire Farm-In Interest, the Current Working Interest Partners will transfer to Terra Nova the following working interest percentages in both PEL 112 and PEL 444:

(a)     Holloman will contribute an undivided 38.556% working interest in both PEL 112 and PEL 444 (resulting in a residual working interest position of 28.112% in each license);

(b)     ACOR will contribute an undivided 8.222% working interest in both PEL 112 and PEL 444; and

(c)     Sakhai will contribute an undivided 8.222% working interest in both PEL 112 and PEL 444.

The Farm-Out may be terminated by any party upon the occurrence of an uncured breach of any material term. Terra Nova may terminate the Farm-Out any time before it has earned the Farm-Out Interest upon providing written notice of such termination to each of the Current Working Interest Partners, provided that Terra Nova has paid the required fees to Holloman and has issued its shares to the Current Working Interest Partners. In the event Terra Nova terminates the Farm-Out, it will only be entitled to any interest in either PEL 112 or PEL 444 that it has earned up to the date of termination.


 

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PostSubject
#8115  Sticky Note here is your update: PrftTkr 07/23/15 01:35:45 PM
#9750   now I see that Claren wants to spin fingolf 11/14/17 08:41:44 AM
#9749   What stupid company would let them look for Gumpstein 11/13/17 02:57:20 PM
#9748   Hey Gump.... fingolf 11/13/17 08:10:37 AM
#9747   Oil prices up, stock price down because they Gumpstein 11/09/17 02:54:54 PM
#9746   and someone is fooling around with the stock price...... fingolf 11/02/17 12:11:35 PM
#9745   Someone is fooling with the website, most of phrocks 11/02/17 02:24:39 AM
#9744   yeah, that's about as timely as we're gonna get. fingolf 10/31/17 01:43:02 PM
#9743   I was optimistic until I realized the report Highflier69 10/31/17 09:47:42 AM
#9742   here's what I found on Claren's 2nd quarter fingolf 10/30/17 04:30:18 PM
#9741   HENC Minimum Work Obligation Deadlines: ACanJadaS 10/30/17 03:28:03 PM
#9740   per my post #9711....got a ways to go........ fingolf 10/30/17 02:06:24 PM
#9739   when are they due to drill in 2018 buccaneer1961 10/30/17 12:14:03 PM
#9738   Oils hot, Brent flirting with $60 which is ACanJadaS 10/27/17 10:59:29 AM
#9737   Welcome back Kotter. FOODINI 10/27/17 10:55:27 AM
#9736   Not all of it, but more than a phrocks 10/27/17 10:00:13 AM
#9735   Hollomans website is back up: http://hollomanenergy.com/?nr=0 phrocks 10/27/17 09:52:22 AM
#9734   From Senex's report: fingolf 10/25/17 01:22:50 PM
#9733   Highflier - fingolf 10/20/17 11:29:54 AM
#9732   @Hamilcar - Claren saying "Significant time remaining on Highflier69 10/20/17 09:53:12 AM
#9731   Claren update, nothing new regarding the PEL's: Hamilcar54 10/20/17 08:32:23 AM
#9730   Silly to let the domain name expire for Hamilcar54 10/20/17 03:28:55 AM
#9729   OT.....took the money and ran. fingolf 10/19/17 08:36:28 AM
#9728   OT....at least my OPTT is going nuts today fingolf 10/18/17 09:50:11 AM
#9727   yeah.... a lot of shared pain over this fingolf 10/17/17 01:17:25 PM
#9726   I am down 45k so don't feel like signjack 10/17/17 12:15:19 PM
#9725   I hear ya..... fingolf 10/17/17 09:45:18 AM
#9724   I never said I took the words as joseytheoutlawwales 10/17/17 09:10:06 AM
#9723   josey....also, don't you find it odd that someone fingolf 10/17/17 08:23:04 AM
#9722   I've heard a lot of things, but I fingolf 10/17/17 08:18:22 AM
#9721   genstock Member Level Monday, 10/16/17 03:36:49 PM trade4 10/16/17 07:04:30 PM
#9720   FWIW, Genstock responded to my query about HENC joseytheoutlawwales 10/16/17 04:23:14 PM
#9719   also, the recent "teaser" volume, along with the fingolf 10/16/17 12:43:44 PM
#9718   btw, i'm not a subscriber to Investor hub, fingolf 10/16/17 12:25:07 PM
#9717   btw, i'm not a subscriber to Investor hub, fingolf 10/16/17 12:25:06 PM
#9716   Dang, I hadn't seen that. They also joseytheoutlawwales 10/16/17 11:48:48 AM
#9715   Well........this is pretty alarming!!!! fingolf 10/16/17 11:38:35 AM
#9714   Hamil - fingolf 09/28/17 08:25:57 AM
#9713   This major I assume is Senex, here are Hamilcar54 09/28/17 04:23:20 AM
#9712   That's weird, in your reference the expiry date Hamilcar54 09/28/17 02:20:34 AM
#9711   follow up....as of Sept 2017 fingolf 09/26/17 10:03:11 AM
#9710   careful about misinformation..... fingolf 09/26/17 08:32:33 AM
#9709   Thanks for sharing the info. Appreciated. joseytheoutlawwales 09/25/17 05:14:35 PM
#9708   They mainly go off brent prices which are genstock 09/25/17 03:29:58 PM
#9707   I believe they have until June to drill Highflier69 09/25/17 03:07:43 PM
#9706   Gen, now with crude apparently stabilizing above $50... joseytheoutlawwales 09/25/17 11:49:56 AM
#9705   True I heard they were waiting for senex signjack 09/25/17 08:23:56 AM
#9704   I don't follow this often, and my memory ACanJadaS 09/22/17 03:47:08 PM
#9703   this stock moves more now than when it's fingolf 09/15/17 01:53:41 PM
#9702   Big buyer yesterday. Up ticked on 6000 shares FOODINI 09/15/17 12:00:55 PM
#9701   Damn I hope so joseytheoutlawwales 09/13/17 11:02:30 AM
PostSubject