Holloman Energy Corporation announced that it has received notice that Terra Nova had terminated its farm-in agreement on Petroleum Exploration Licenses (PELs) 112 and 444. As a result of the farm-in termination, Holloman Energy will no longer be obligated to transfer any additional working interest in PEL 112 or PEL 444 to Terra Nova. HENC is in the process of revisiting drilling plans and has already begun contacting potential drillers.

The company will provide additional information as plan revisions become finalized. About Holloman Energy Holloman is focused on exploring and producing oil in Australia's Cooper Basin. Holloman's Cooper Basin licenses include interests in PEL 112 and PEL 444 which currently comprise 3,444 km2 (approximate 850,000,000 gross acres, 413,000 net acres) on the prolific Western Margin of Australia's Cooper ' Eromanga Basin.