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Holloman Energy Corporation's primary objective continues to be the pursuit of its drilling plans in Petroleum Exploration License (PEL) 444.
Holloman is keeping abreast of the recent shareholder events surrounding their drilling partner Terra Nova Energy Ltd. (Terra Nova). A dissident shareholder group is currently waging a proxy contest to replace current management at the upcoming Annual General Meeting on July 15, 2015.
The Company has decided it's in the best interest of HENC's shareholders to delay decisions affecting the licenses until Terra Nova's management team is determined. The Company remains confident in the potential of its licenses and will reengage with Terra Nova to formalize exploration plans after their meeting.
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