Drill Program Proposed on Oil Sands
Prospect
HABANERO RESOURCES
INC.
HAO: TSX
Venture Exchange
HBNRF--USA
HRJ--Germany
Habanero Resources Inc. ("Habanero") wishes to announce that it has
been notified by the majority partner, Patch International Inc.
(“Patch”), on Habanero’s Muskwa Oil Sands Prospect
that this prospect is part of Patch’s proposed 2007/2008 drill
program. This prospect lies approximately
10 kilometers directly to the south of Sure Royal Dutch Shell’s
prospect. Habanero has a 20.83% interest in this prospect.
Jason Gigliotti, President of
Habanero Resources stated, “It is a pleasant surprise to have this
proposed drill program added to our ongoing operations.
Management did not expect to have a drill program on this
prospect this year, so to have this prospect drilled is a great
opportunity to potentially quantify the oil value in ground or possibly
produced from this prospect.
Management is confident that additional oil sands acreage will be added
to Habanero’s existing acreage in the future either through crown
land sales or through joint ventures.
Habanero has now added significant net Alberta Oil Sands acreage
in 2007 going from less than 1 net section (633 acres approx) to
35.45 net sections (22,425
acres approx) and management feels that the Oil Sands of Alberta will be
the key to the future growth of Habanero.
The goal of the Company is to ultimately go into production from
one or more of the Oil Sands Prospects Habanero has interest
in.”
Habanero is an
emerging junior oil and gas company focused on developing and acquiring
Alberta Oil Sands Prospects.
Habanero has an interest in 46.5 (29,415 acres ) gross and
35.45 (22,425 acres) net
Alberta Oil Sands sections, as well as having exposure to approximately
55,000 acres of oil sands interests in the Peace River region of Alberta
though its equity ownership in Andora Energy Corporation
("Andora"). Habanero owns
700,000 common shares of Andora which are currently deemed at
$2.86 based on a proposed
combination previously announced.
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Contact Information:
Tel 604-646-6900
Fax 604-689-1733
ir@habaneroresources.com
www.habaneroresources.com
BY ORDER OF THE
BOARD OF DIRECTORS
“Jason
Gigliotti”
Jason Gigliotti,
President
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