VANCOUVER, British Columbia, Aug. 24, 2005 (PRIMEZONE) -- Habanero Resources Inc. (Other OTC:HBNRF) (TSX Venture:HAO) is extremely pleased to report that it has been informed by the operator that the Pembina Well is now scheduled to be fraced on August 29, 2005. This well was originally scheduled to be fraced May 2, 2005 but unexpected delays occurred that were out of HAO's control. It is also anticipated that the next Martex well, in Texas, will commence operations with within the next 10-14 days. This should give HAO multiple oil and gas drilling prospect in progress simultaneously.
Jason Gigliotti, president of HAO stated, "We are finally going to be able to get back to operations. It has been a long time since we were able to make drilling announcements but we are coming into a very busy drilling period for HAO. When you couple this with the fact that oil and gas prices are near all-time highs, this could be one of the most lucrative times for HAO to add new revenue. These next few weeks could signal a turning point for HAO in terms of company growth. HAO is in great financial shape having over $300,000 in the bank, no long term debt and all our current cash calls have been paid. When you factor in that our drilling is now about to start, these next few weeks could be some of the most exciting in HAO's history."
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 15 wells located on multiple oil and gas fields located in Texas, Saskatchewan and Alberta.
If you would like to be added to HAO's email updates list, please send an email to ir@habaneroresources.com requesting to be added.
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.