Hero Technologies Inc (HENC)

[gamood]

Holloman Energy Update on PEL 444 Obligation Well

HOUSTON, TX--(Marketwired - Sep 9, 2015) - Holloman Energy Corporation (OTCQB: HENC) is pleased to announce that drilling on PEL 444 is scheduled to commence before the end of 2015. A Technical Sub-Committee meeting took place on August 27th resulting in positive confirmations of the drill site location of our commitment well. Subsequently, on August 31, 2015, the Operating Committee approved the plan and the associated Authority for Expenditure (AFE). Mark Stevenson commented, "The largest prospect mapped on the Wingman 3D seismic was 'Baikal 1' and has been deemed as the final commitment well under the second five year license term. We believe that the technical work performed has increased our chances of success. Additional discussions for the implementation of the drilling program will take place later this month." Despite the outstanding disagreement to rights of operatorship and working interest, HENC and Terra Nova are working together to ensure the drilling program moves forward as planned.