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Habanero Resources Inc. Substantially Increases Alberta Oil Sands Exposure Adding 95% Interest in 22 New Athabasca Oil Sands Sections
Habanero Resources Inc. Substantially Increases Alberta Oil Sands Exposure Adding 95% Interest in 22 New Athabasca Oil Sands Sections.
About this update from Sienna Resources Inc
[{"type":"text","content":"\n\n\n\nTrading Symbols:\n\n\nHAO: TSX Venture Exchange\n\n\nHBNRF: Pink Sheets\n\n\nHRJ: Frankfurt Stock Exchange\n\n\nVANCOUVER, July 3 /CNW/ - Habanero Resources Inc. ("Habanero") is pleased\nto announce that it has acquired a 95% interest in 22 new Athabasca Oil Sands\nsections. This new acquisition consists of two separate blocks, one of\n10 contiguous sections and the other of 12 contiguous sections. The block of\n10 contiguous sections is located at 4-15-075 27-34 and 4-15-076 5:6 and\ncovers the Oil Sands below the top of the Viking formation to the base of the\nWoodbend Group. The block of 12 contiguous sections is located at 4-17-078\n13-15; 22-27; 34-36 and covers the Oil Sands below the top of the Viking\nformation to the base of the Woodbend Group.\n\n\nJason Gigliotti, President of Habanero Resources stated, "This is a very\nsignificant acquisition for Habanero. This new acquisition increases\nHabanero's net oil sand acreage by almost 300%, going from 10.75 (6,800 acres)\nnet sections to 31.65 (20,021 acres) net sections. Additionally important is\nthat these two new blocks are the two single largest blocks Habanero has an\ninterest in and they are shaped as one thick block, not singular lines of\nsections. Habanero has increased its Oil Sands sections under lease from\n4.5 gross sections at the end of 2006 to now having 42.5 gross and 31.65 net\nsections. Management expects to add additional oil sections in the future and\nwill attempt to develop a work program in the future on one or more of the oil\nsands prospects that Habanero has an interest in with the final goal of going\ninto production."\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\n42.5 (26,885 acres) gross and 31.65 (20,021 acres) net Alberta Oil Sands\nsections, as well as having exposure to approximately 55,000 acres of oil\nsands interests in the Peace River region of Alberta though its equity\nownership in Andora Energy Corporation ("Andora"). Habanero owns 700,000\ncommon shares of Andora which are currently deemed at $2.86 based on a\nproposed combination previously 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 adde...