DALLAS, March 03, 2008 – BeaconEquity.com announces the publication of ‘Holloman Energy Corporation (HENC) to Focus on Its Australian Oil Investments’
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Holloman Energy Corporation (HENC) to Focus on Its Australian Oil Investments
In 2007, the world is consuming more than 86 million barrels of oil per day (up 1.7% over 2006). Demand is forecast to rise 2.4% to 88.2 million barrels in 2008. With accelerating population growth, surmounting economic activity and increased use of energy in residential, industrial, and transportation applications, demand for energy has tremendously surged. Holloman Energy Corporation (HENC), a development-stage independent oil and gas exploration and production company, is aggressively acquiring drilling properties, ongoing oil and gas producing wells in low-risk areas and potentially high return international oil and gas concessions in prolific producing regions.
Holloman Energy Corporation recently acquired an Australian energy company and is also contemplating a reverse takeover of a publicly traded capital pool company listed on the TSX exchange. Since most of the world's major existing oil fields are maturing, energy companies are exploring for reserves offshore and in under-developed drilling areas to meet rising demand.
Holloman plans to aggressively explore for oil and gas in Australia and has acquired working interests in three drilling prospect areas: the Gippsland Basin, the Cooper Basin and the Barrow Sub-Basin. Australia is a strategic area for oil exploration since its energy resources are under-explored and underdeveloped, suggesting the potential for major new discoveries. With oil reserves of at least four billion barrels, Australia has only about 5% of its known reserves to have been exploited, with only about 8,000 to 10,000 wells drilled to date. Initial production from Holloman's Australian properties is not anticipated until late 2008. However, reserves associated with the Australian holdings are significant, estimated to exceed 462 million barrels and represent a $2.3 billion value.
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