Trading Symbol:
HAO: TSX Venture Exchange
HBNRF: Pink Sheets
HRJ: Frankfurt Stock Exchange
872019: WKN Frankfurt
VANCOUVER, Feb. 13 /CNW/ - Habanero Resources Inc. ("Habanero") (HAO-TSX Venture Exchange: HBNRF-Pink Sheets HRJ-Frankfurt Stock Exchange: 872019-WKN Frankfurt) wishes to announce a 50% acquisition of six new Oil Sands sections in Alberta, Canada. These new sections are comprised of; two sections (512 contiguous hectares (1,265 acres)) located in range 10 township 89 w4 in the Athabasca Oil Sands Region and four contiguous sections (1,024 contiguous hectares (2,530 acres)) located in range 18, township 88 w5 in the Peace River Oil Sands Region.
The first of these new Oil Sand Sections comprise of two sections that are located within and contiguous to Fort McMurray, Alberta. The other four sections acquired are contiguous to Habanero's recently announced (January 26, 2007) acquisition of four sections in the Peace River Oil Sands region. This now gives Habanero eight contiguous sections in the Peace River Region north of the Shell/BlackRock Seal Producing project. Like all prospects, there may be associated operational risks involved.
Jason Gigliotti, President of Habanero stated, "These two strategic acquisitions show our commitment to increasing Habanero's assets located within the Alberta Oil Sands. The new acquisition contiguous to Fort McMurray puts Habanero right in the heart of the Oil Sands. These four new sections are contiguous with the four Peace River sections recently acquired which now makes eight contiguous sections near the Shell/BlackRock Seal project which makes it clear our asset base is expanding at a rapid pace."
Recently, management was informed that the seismic operations on the Leismer Oil Sands Prospect were completed. The test well on this prospect was also recently completed. The combined data will be interpreted and released, once final analysis is complete which is expected shortly. Habanero has a 16.67% net interest in this prospect.
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. Total cost for these sections was $128,936.
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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