VANCOUVER, British Columbia, Dec. 30, 2005 (PRIMEZONE) -- Habanero Resources Inc. ("Habanero") (Pink Sheets:HBNRF) (TSX-V:HAO) (Frankfurt:HRJ) announces a non-brokered private placement of up to 478,405 units at $0.35 per unit for total proceeds of $167,442, subject to regulatory approval. Each unit will consist of one flow-through common share and one non flow-through share purchase warrant; each warrant entitles the holder to purchase one non flow-through common share for a period of two years from closing at $0.50 per share. Proceeds from this placement will be used for future exploration and development of Habanero's Canadian oil and gas interests. The single subscriber for this placement will be an institutional flow-through fund. A finder's fee in accordance with the exchange guidelines will be paid.
Habanero will also conduct a non-brokered private placement of up to 300,000 non flow-through units at $0.31 per unit for total proceeds of $93,000, subject to regulatory approval. Each unit will consist of one common share and one share purchase warrant; each warrant entitles the holder to purchase one common share for a period of two years from closing at $0.35 per share. A finder's fee in accordance with the exchange guidelines will be paid.
Jason Gigliotti, President of Habanero Resources stated, "For Habanero to have an institutional investor take an equity stake in our company is a great sign, as larger shareholders are starting to take an active interest in our growth potential, especially since we have announced our entry into the Alberta Oil Sands. This also allows us to be able participate in new projects and/or increase our interests in existing projects. We feel 2006 will be a significant year for Habanero as our conventional oil and gas prospects, as well as our Alberta Oil Sands project, are explored and developed."
Habanero is an emerging junior oil and gas producing company focused on oil and gas exploration and production in North America. Habanero has one of, if not the smallest market capitalizations, of any of the companies that have 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.
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BY ORDER OF THE BOARD OF DIRECTORS
"Jason Gigliotti"
Jason Gigliotti, President
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