VANCOUVER, British Columbia, April 6, 2005 (PRIMEZONE) -- Habanero Resources Inc. ("HAO") (TSX-V:HAO) wishes to report that it has been informed by the operator that the Stuart 60 No. 8 Well, on the Martex Prospect in Texas, is now scheduled to be fraced on April 8th barring any unforeseen issues. This frac will be the largest the operator has conducted on this formation. HAO has already paid for this well and the next two wells. It is anticipated that the next well on this prospect will commence as soon as this well is completed and put on line for sales.
The operator on the Pembina Prospect well has informed HAO that perforation has been completed and the frac is now the next process to occur. Due to Alberta government road restrictions, it is anticipated that this well will be able to be fraced in 2-4 weeks. This is a re-entry of a past producing well.
HAO currently has cash reserves which it intends to utilize to build its assets either through acquisitions and/or additional drilling.
Jason Gigliotti, president of HAO stated, "April could be a very important month for HAO. We are scheduled to get the initial results from two separate drill programs within the month. Based on the past success on each of these drill programs, we are very optimistic that we could have two new sources of revenue to report shortly. Our goal is to become a mid-range oil and gas company, and we are hoping to be able to move in this direction with our pending results in the next few weeks. We still have more than enough cash on hand to drill new wells on the current prospects we are participating in, and we are constantly searching for new prospects that would meet our criteria of low risk/ high reward potential."
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 sources 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.