VANCOUVER, British Columbia, Sept. 15, 2005 (PRIMEZONE) -- Habanero Resources Inc. ("HAO") (Other OTC:HBNRF) (TSX-V:HAO) wishes to report that it has now initiated the listing procedure to have the stock listed on the Pink Sheets. HAO currently only has a clearing symbol on the Pink Sheets. At this time approximately 99% of HAO's volume is traded on the TSX Venture Market in Canada. HAO has been advised by counsel that the listing process should be completed within the next 4-6 weeks.
Work is currently on-going on the Pembina Well in Alberta after being successfully fraced. HAO first announced the Pembina Well in its news release dated March 18, 2005. The operator anticipates that it will be 1-2 weeks before initial flow rates could be reported. The operator feels that gas from both the upper and lower Viking formation in this well should warrant placing the well on production for sales, barring any unforeseen issues.
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, "We feel that having a fully quoted listing in the United States will be a very significant move in the future growth of Habanero Resources. We currently trade the vast majority of our volume in Canada, despite have a sizeable U.S. shareholder base. The U.S. investor base is about 8 times as large as Canada's, and having a U.S. listing will open Habanero up to this large market. We believe that this listing should increase the liquidity of Habanero's shares and assist in financing the company in the future. We feel that the next few months are going to be one of the most active for the growth of the company, therefore this could be a great time to make Habanero more accessible to potential investors."
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 month.
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.
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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.