VANCOUVER, British Columbia, April 13, 2005 (PRIMEZONE) -- Habanero Resources Inc. (Pink Sheets:HBNRF) (TSX-V:HAO) is pleased to report that it has been informed by the operator on the Martex Prospect that the Stuart 60 No.8 Well has been successfully fraced and is now producing oil and gas. A work over rig is scheduled to conduct the final work on the well within the next 7-10 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.
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, "This is very exciting news for HAO and HAO's shareholders. Adding producing wells to the operations is how HAO intends to build the company. We still have three wells to test in the coming weeks for which the costs have already been paid. We still have strong cash reserves in the bank to utilize. We are very optimistic about HAO's growth during this period of extremely high oil and gas prices. We are looking forward to the next little while, as the results from these three other wells come to fruition."
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.
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
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