VANCOUVER, British Columbia, Sept. 7, 2005 (PRIMEZONE) -- Habanero Resources Inc. (Other OTC:HBNRF), (TSX-V:HAO) is extremely pleased to report that it has been informed by the operator that the crew is now on location at the Pembina Well in Alberta, Canada. The frac for this well is expected to occur on or about September 9, 2005, barring any unforeseen issues. The operator believes that the zone that this well is testing might have the ability to produce both oil and gas. The initial flow rates are expected between 2-14 days after the frac occurs. If this well is successful, it will be put online for sales immediately.
The Martex Prospect in Texas is expected to recommence operations within the next 3-14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well.
Jason Gigliotti, president of HAO stated, "This is a great time for HAO and HAO's shareholders. We have not had any new drilling results in over four months and now we could have results from two separate projects within the next few weeks. We currently have over $300,000 in the bank, no long-term debt, and all of the drilling costs have already been paid. The Pembina Well has the potential to add significantly to our revenue for the year and considering the near all-time highs on oil and gas prices, I cannot think of a better time to have drilling results. September could be one of the most important months ever for the growth of HAO."
HAO is currently in negotiations on a new multi-well oil and gas prospect in Alberta, Canada. The board is currently reviewing the project and a final decision is expected within the next 30 days.
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
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