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HAO: TSX Venture Exchange
HBNRF: Pink Sheets
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VANCOUVER, May 7 /CNW/ - Habanero Resources Inc. ("Habanero") has received additional information regarding the initial test well on the Leismer Oil Sands Prospect in Alberta, Canada from the operator. Based on this data the main zone holding oil bearing sands is situated from approximately 383 metres to 395 metres within the McMurray Oil Sands Formation. Within this zone the average oil saturation (pore volume) was 71.8% (35 readings) with a high reading of 94.8% and a low of 48.7%. The calculated porosity was 31.9% and the horizontal permeably was 3693 mD (milli Darcy). Habanero has a 16.67% net interest in this prospect.
Jason Gigliotti, President of Habanero Resources, stated "Management is pleased with the additional data from this core well. The Leismer Prospect is the furthest advanced project that Habanero has a working interest in. This prospect lies directly between property held by Petrobank and North American Oilsands, which was recently purchased for $2.2 billion CDN by Statoil of Norway. Management is focused on the development and acquisition of Habanero's Alberta Oil Sands properties and has acquired a 50% interest in 16 Oil Sands sections to date in 2007."
Habanero is an emerging junior oil and gas company focused on developing and acquiring Alberta Oil Sands Prospects. Habanero has an interest in 20.5 gross and 10.75 net Alberta Oil Sands sections, as well as having exposure to approximately 55,000 acres of oil sands interests though its equity ownership in Andora Energy Corporation ("Andora"). Habanero owns 700,000 common shares of Andora.
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"
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Jason Gigliotti, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.