Habanero Resources Inc.

Published : August 22nd, 2007

Drill Program Proposed on Oil Sands Prospect

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Keywords :   Germany | Growth | Oil |

COMPANY NEWS     
  August 21, 2007

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. 

 

If you would like to be added to Habanero's email updates list, please send an email to ir@habaneroresources.com requesting to be added.

 

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

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

This service is intended for dissemination of company information only. This is not a solicitation to buy or sell securities. Any decision to buy or sell securities should be discussed with a professional in the financial industry. If you would like to be deleted from this service or feel this message was sent in error, please send an email to ir@habaneroresources.com with delete in the subject line and use the exact email address as it appears in this message.

 

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The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.  We seek safe HARBOR.



 
Data and Statistics for these countries : Germany | All
Gold and Silver Prices for these countries : Germany | All

Habanero Resources Inc.

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Habanero is a and oil exploration company based in Canada.

Habanero holds various exploration projects in Canada.

Its main exploration properties are ALBERTA OIL SANDS, HALDANE and LEZAI in Canada.

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