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Holloman, Brandenburg Announces Cooper Basin Joint Venture
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Brandenburg Metals Corp (TSX-V:BBM) ("Brandenburg " or the "Company"), is pleased to announce that it has signed a joint venture letter of intent ("LOI") with Houston-based Holloman Energy Corporation ("HEC"), pursuant to which the company can earn an undivided 44% working interest in two onshore concessions known as Petroleum Exploration License 112 ("PEL 112") and Petroleum Exploration License 444 ("PEL 444")(PEL 112 and PEL 444 collectively, the "PELs").
The PELs cover 1,125,000 acres in South Australia's Cooper Basin Western Flank Oil Play. The Department of Primary Industries and Resources of South Australia reports that the Cooper Basin has sourced over 4 billion barrels of oil and 5 trillion cubic feet of recoverable gas. The Cooper Basin has in excess of 120,000 kilometers of 2-D…
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