VANCOUVER, British Columbia, March 23, 2006 (PRIMEZONE) -- Habanero Resources Inc. ("Habanero") (Pink Sheets:HBNRF) (TSX-V:HAO) (Frankfurt:HRJ) is pleased to announce that it has been informed by the operator of the Cardium Burnstick Prospect (announced December 29, 2005) that the drill rig is now moving to the well location with the expectation that drilling will commence within 7 days, barring any unforeseen issues. This first well is in a development location within the Cardium Burnstick Member reservoir trend in an area located south of Edmonton, Alberta. Habanero has secured a 10% working interest in this prospect.
Jason Gigliotti, President of Habanero stated, "It will be great to start this new conventional drill program. When you couple this new drilling with the ongoing activities of the Alberta Oil Sands projects we are participating in, it is clearly a period of growth for Habanero. I just returned from a road show in Europe and found that many people are not aware of the magnitude of the Alberta Oil Sands and Canada as one of the only non-OPEC countries that is actually increasing oil production. This being said, provided oil prices do not collapse, I feel that any company with exposure to the Alberta Oil Sands could benefit as the investment community of the world realizes the immense size of the Alberta Oil Sands reserves. As it stands, Habanero is one of, if not the smallest, market capitalized companies that has interests in two Alberta Oil Sands prospects."
Further to our news from Feb. 27, Habanero wishes to announce that the Oil Sands consortium has changed its name to "Patch Oilsands Limited Partnership" (POLP).
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BY ORDER OF THE BOARD OF DIRECTORS
"Jason Gigliotti"
Jason Gigliotti, President
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