Trading Symbols
HAO: TSX Venture Exchange
HBNRF: Pink Sheets
HRJ: Frankfurt Stock Exchange
Habanero Resources Inc. ("Habanero" is extremely pleased to announce
that it has been informed by the operator of the Peace River Oil Sands
Prospect (announced November 17, 2005) that the seismic operations are
now complete. The seismic data will now be interpreted and evaluated
with the known geology and previously gathered information to determine
the proceeding steps for the potential Oil Sands pilot project planned
for this prospect.
Jason Gigliotti, President of Habanero Resources stated, "This is great
to be achieving milestones on the Alberta Oil Sands projects that we
are participating in. When you consider the ongoing activities that are
occurring on the Alberta Oil Sands projects and the recently announced
conventional drilling and couple these with the near all time highs on
oil prices, clearly these are exciting times of growth for Habanero.
As it stands, Habanero is one of if not the smallest market capitalized
companies that has interests in two Alberta Oil Sands prospects."
The Oil Sands of Canada hold recoverable reserves of 175 billion
barrels with a proven reserve life of 480 years and another 130 billion
barrels of potential reserves, which is second only to Saudi Arabia\'s
262 billion barrels. As a comparison, the United States has only 29
billion barrels of recoverable reserves and has decreasing domestic
production while their demand is increasing by 1-2% every year. Canada
is in an optimal position to supply oil to the US with its favorable
political climate, close proximity and being one of the few non-OPEC
countries which can grow its oil production.
Habanero is an emerging junior oil and gas company focused on oil and
gas exploration and production in North America. Habanero is one of, if
not the smallest market capitalized companies that has interests in two
separate prospects (Peace River Oil Sands prospect announced Nov 17,
2005 and Athabasca Oil Sands prospect announced March 2, 2006) in the
Alberta Oil Sands. Habanero\'s goal is to become a mid range oil and gas
producer.
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.comBY ORDER OF THE BOARD OF DIRECTORS
"Jason Gigliotti"
Jason Gigliotti, President
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