VANCOUVER, British Columbia, Dec. 29, 2005 (PRIMEZONE) -- Habanero Resources Inc. ("Habanero") (Pink Sheets:HBNRF) (TSX-V:HAO) (Frankfurt:HRJ) is extremely pleased to announce that it has entered into a participation agreement on a potential multi-well oil and gas prospect in Alberta (press release dated December 19, 2005). The first well is in a development location within the Cardium Burnstick Member reservoir trend in the area located south of Edmonton, Alberta. Habanero has secured a 10% working interest in this prospect. Drilling is expected to commence shortly.
Habanero is in the process of further increasing its interest in the Alberta Oil Sands project, and a response is expected shortly.
Jason Gigliotti, President of Habanero Resources stated, "It is very exciting to have a new conventional drill prospect to add to our existing producing oil and gas prospects as well as our Alberta Oil Sands project. Alberta is one of the largest oil and gas regions in the world and we look forward to drilling this new prospect shortly. We are continuing to look for ways to add shareholder value as the Alberta Oil Sands project is developed over the coming months and years. As it stands now, Habanero is one of, if not the smallest market capitalized companies that has exposure to the massive Alberta Oil Sands. When you take this into account along with the fact that we have no long-term debt, we have revenue coming in, cash in the bank and that oil and gas prices are currently near all time highs, we think our shareholders should share our enthusiasm for Habanero's growth in the upcoming year."
Habanero is an emerging junior oil and gas producing company focused on oil and gas exploration and production in North America. Habanero is one of, if not the smallest market capitalized companies that has exposure to the massive Alberta Oil Sands. 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.
If you would like to be added to Habanero'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
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.