VANCOUVER, British Columbia, Oct. 25, 2005 (PRIMEZONE) -- Habanero Resources Inc. ("Habanero") (Pink Sheets:HBNRF) (Other OTC:HBNRF) (TSX-V:HAO) wishes to announce that it has been notified by the Frankfurt Stock Exchange that it has been listed and is now trading under the symbol (Frankfurt:HRJ). Habanero anticipates that this listing will facilitate and grow Habanero's brand name throughout the European community.
Jason Gigliotti, President of Habanero stated, "Having this new listing on the Frankfurt Exchange potentially opens up Habanero Resources to a vast new base of private and institutional European investors. The Frankfurt Exchange is one of the most widely respected exchanges in Europe and it is a thrill to commence trading there. We are expecting our USA listing to be finalized shortly. The paperwork has been submitted and has been posted to the Pink Sheets website, therefore we are expecting to be fully quoted shortly. Once this occurs, Habanero will be listed on all the exchanges that management set out to achieve and will enable Habanero to be traded by potentially millions of more investors than by trading only on the TSX Venture Exchange. We are still in negotiations on some 'blue sky' or 'home run' type of oil and gas prospects, including an oil sand prospect, and we hope to have a decision on one or more of these prospects shortly."
The Form 15C2-11, which is an information and disclosure statement, has now been submitted to attain a full U.S. quoted listing (press release dated September 15, 2005). It is anticipated that Habanero's U.S. trading symbol will be fully quoted shortly. The U.S. listing will enable potential shareholders who are outside of Canada to trade the common shares of Habanero more easily. Habanero's shares currently trade under the U.S. symbol HBNRF, but it is just a clearing symbol at this time showing no bid or ask price. This new listing will cause no change in the number of shares outstanding, nor will it have any impact on shareholders who already own shares. At this time approximately 99% of HAO's volume is traded on the TSX Venture Exchange in Canada.
Habanero is expecting a full report on the Enchant Oil and Gas Prospect to be received from the new operator shortly (press release dated September 21, 2005). This report will lay out the drilling plan for this prospect. This prospect carries the largest net interest that Habanero currently has on its oil and gas prospects.
The Martex Prospect in Texas is expected to recommence operations over the coming weeks. Unfortunately, the hurricanes caused delays thoughout the gulf region and the operator is now anticipating operations to start this quarter. Habanero has two more fully paid wells to complete on this prospect. Habanero has already had 5 out of 5 wells drilled successfully on this prospect.
Habanero was recently notified by Liberty Fund Management that it will be part of the Liberty Micro-Cap Oil & Gas Index (press release dated September 19, 2005). According to a Liberty Fund Management news release dated September 19, 2005, "Liberty Fund Management will be launching the world's first, micro-cap Oil & Gas index on September 30, 2005 . . . The portfolio manager of the Liberty Micro-Cap Oil & Gas Index Fund will be Richard Johnston, MBA, and CFA whom previously was the Chief Investment Officer for a CDN $6.5 billion pension fund. There will be approximately two hundred companies, including HABANERO RESOURCES, in the index. The collective market cap of all of the companies in the index is approximately CDN $4 billion. The objective of the fund is to provide large cap investors with a way to get exposure to the higher rates of return that micro-cap equities offer, while minimizing some of the volatility and liquidity problems that accompany micro-cap companies."
Habanero is an emerging junior oil and gas company focused on high reward, low risk oil and gas exploration and production in North America. Habanero's goal is to become a mid range oil and gas producer. Habanero 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.