VANCOUVER, British Columbia, April 20, 2005 (PRIMEZONE) -- Habanero Resources Inc. (Pink Sheets: HBNRF) (TSX Venture Exchange:HAO) is pleased to report that it has been informed by the operator on the Pembina Prospect that the frac is now scheduled for May 2, 2005 barring any unforeseen issues. The operator believes that the road restrictions should be over soon, thus they will be able to access the well.
The Stuart 60 no.8 Well has been successfully fraced and is now producing oil and gas. A work over rig is on site conducting the final work on the well. This work is expected to be concluded within the next 2-5 days. Once this occurs a more accurate flow should be established. The operator stated, "Friday, the 8th, we fracture stimulated the 60 no.8 with a 125,000 pound sand/foam frac with 50% nitrogen foam of 80,000 gallons. The well treated exactly as planned." There are two additional wells to be drilled on this prospect. HAO has already paid for the costs on these two wells. It is anticipated that both of these wells will be tested within the next 60 days.
HAO currently has cash reserves which it intends to utilize to build its assets either through new acquisitions and/or additional drilling.
Jason Gigliotti, president of HAO stated, "We are entering an exciting time for HAO. We should have results from two separate prospects within the next two weeks. This could be a very crucial period of growth for HAO, and based on our previous success on these prospects we are optimistic about our pending results."
HAO is an emerging junior oil and gas company focused on high reward, low risk oil and gas exploration and production in North America. HAO's goal is to become a mid range oil and gas producer. HAO currently earns oil and gas revenue from 16 wells located on multiple oil and gas fields located in Texas, Saskatchewan and Alberta.
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BY ORDER OF THE BOARD OF DIRECTORS
"Jason Gigliotti" Jason Gigliotti, President
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