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Habanero Resources Inc. Drill Program Proposed on Oil Sands Prospect
Habanero Resources Inc. Drill Program Proposed on Oil Sands Prospect.
About this update from Sienna Resources Inc
[{"type":"text","content":"\n\n\n\nTrading Symbols:\n\n\nHAO: TSX Venture Exchange\n\n\nHBNRF--USA\n\n\nHRJ--Germany\n\n\nVANCOUVER, Aug. 21 /CNW/ - Habanero Resources Inc. ("Habanero") wishes to\nannounce that it has been notified by the majority partner, Patch\nInternational Inc. ("Patch"), on Habanero's Muskwa Oil Sands Prospect that\nthis prospect is part of Patch's proposed 2007/2008 drill program. This\nprospect lies approximately 10 kilometers directly to the south of Sure Royal\nDutch Shell's prospect. Habanero has a 20.83% interest in this prospect.\n\n\nJason Gigliotti, President of Habanero Resources stated, "It is a\npleasant surprise to have this proposed drill program added to our ongoing\noperations. Management did not expect to have a drill program on this prospect\nthis year, so to have this prospect drilled is a great opportunity to\npotentially quantify the oil value in ground or possibly produced from this\nprospect. Management is confident that additional oil sands acreage will be\nadded to Habanero's existing acreage in the future either through crown land\nsales or through joint ventures. Habanero has now added significant net\nAlberta Oil Sands acreage in 2007 going from less than 1 net section\n(633 acres approx) to 35.45 net sections (22,425 acres approx) and management\nfeels that the Oil Sands of Alberta will be the key to the future growth of\nHabanero. The goal of the Company is to ultimately go into production from one\nor more of the Oil Sands Prospects Habanero has interest in."\n\n\nHabanero is an emerging junior oil and gas company focused on developing\nand acquiring Alberta Oil Sands Prospects. Habanero has an interest in 46.5\n(29,415 acres) gross and 35.45 (22,425 acres) net Alberta Oil Sands sections,\nas well as having exposure to approximately 55,000 acres of oil sands\ninterests in the Peace River region of Alberta though its equity ownership in\nAndora Energy Corporation ("Andora"). Habanero owns 700,000 common shares of\nAndora which are currently deemed at $2.86 based on a proposed combination\npreviously announced.\n\n\nIf you would like to be added to Habanero's email updates list, please\nsend an email to [email protected] requesting to be added.\n\n\nBY ORDER OF THE BOARD OF DIRECTORS\n\n\n"Jason Gigliotti"\n\n\n----------------------------------\n\n...