VANCOUVER, British Columbia, Aug. 11, 2005 (PRIMEZONE) -- Habanero Resources Inc. (TSX-V:HAO) (Pink Sheets:HBNRF) is pleased to report that its oil and gas operations are scheduled to recommence shortly. It is anticipated that at least one of our drill programs, and possibly as many as three, will resume this month. At this time, all of our drilling costs for these projects have been paid. HAO currently has approximately $270,000 in the bank.
At HAO's 2005 Annual and Special General Meeting, which was held August 10, 2005, all motions were approved with a minimum approval of 96%.
Jason Gigliotti, president of HAO stated, "We have been very frustrated with the lack of news the company has been able to provide to shareholders, and are thankful to our loyal shareholders for their support and patience during this period. We feel that things are about to turn around for us. We are about to get back to work on our drill programs and HAO historically generates more market attention during drill periods than during quiet periods. HAO is in the best financial shape it has been in during the five years that I have been involved with the company, and when you consider the all-time high prices for oil and near highs for gas, this could be a significant period of growth for HAO. I am the largest single registered shareholder of HAO, so I can assure our shareholders that I will do all I can to build the company. When you factor these points all together we are very excited about the future of HAO, especially now that drilling operations are about to recommence."
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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