VANCOUVER, British Columbia, Jan. 10, 2006 (PRIMEZONE) -- Habanero Resources Inc. ("Habanero") (Pink Sheets:HBNRF) (TSX-V:HAO) (Frankfurt:HRJ) wishes to announce that an interview with its President, Jason Gigliotti, will be aired on The Biography Channel throughout the month of January. The interview covers the current status of Habanero and focuses on the recently announced Alberta Oil Sands Project as well as Habanero's conventional Alberta oil and gas prospects.
Habanero recently announced 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; a response is expected shortly.
Jason Gigliotti, President of Habanero Resources stated, "These are extremely exciting times for Habanero's management and shareholders. The company being featured on The Biography Channel in Canada will only bring new eyes on the company as we develop our conventional drill prospects and our exposure to the Alberta Oil Sands. 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 has closed a private placement announced December 19, 2005 by issuing 1,000,000 flow-through units for gross proceeds of $200,000. Each unit consists of one flow-through share and one non-transferable non flow-through share purchase warrant; each non flow-through warrant entitles the holder to purchase one further non flow-through common share of the company for a period of two years from closing at the exercise price of $0.25 per share. All shares and warrants issued pursuant to this private placement are subject to a hold period expiring April 29, 2006. Proceeds from this placement will be used for future exploration and development of Habanero's oil and gas interests.
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.
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BY ORDER OF THE BOARD OF DIRECTORS "Jason Gigliotti" Jason Gigliotti, President
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