Trading Symbol:
HAO: TSX Venture Exchange
HBNRF: Pink Sheets
HRJ: Frankfurt Stock Exchange
872019: WKN Frankfurt
VANCOUVER, Feb. 15 /CNW/ - Habanero Resources Inc. ("Habanero") (HAO-TSX Venture Exchange: HBNRF-Pink Sheets HRJ-Frankfurt Stock Exchange: 872019-WKN Frankfurt) has been notified by the operator that, "Interpretation of the seismic data, core hole data and log data has confirmed our initial evaluation of the data on the Leismer prospect. With further drilling there may be more than one potential SAGD oil sand pods on the property. Based on this data, the thickness of the McMurray Formation could be 22 metres (72 feet gross) 375 metres below surface." A more intensive drill program is now being formulated with the ultimate goal or going into production on this prospect. This prospect lies directly between Petrobank and North American Oil Sands.
Jason Gigliotti, President of Habanero stated, "This is very encouraging news for Habanero. We are achieving important milestones on the path to ultimately putting the Leismer Oil Sands Prospect into production. Habanero has been active in acquiring new Oil Sands leases in the past six weeks, increasing the net acreage attributable to Habanero. Moreover, Habanero has acquired a significant 50% intrest in these new 16 sections. When you couple this important milestone on the Leismer Prospect with our recent land acquisitions, clearly management feels optimistic about the future of Habanero."
Habanero is an emerging junior oil and gas company focused on oil and gas exploration and production in North America. Habanero is one of, if not the, smallest market-capitalized company that has interests in eight separate Oil Sands prospects. Habanero has 50% interest in 16 of these gross sections as well as having exposure to approximately 55,000 acres of oil sands interests through its equity ownership in Andora Energy Corporation ("Andora"). Habanero currently earns conventional oil and gas revenue from multiple wells located in North America. Habanero's goal is to become a mid-range oil and gas producer. Habanero owns 700,000 common shares of Andora. Habanero has a 16.67% net interest in the Leismer Oil Sands Prospect.
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.
"Jason Gigliotti"
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Jason Gigliotti, President
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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