Some one else postCheck out a HAO review from The fever before you lose your money...it aint pretty!
https://www.stockhouse.ca/bullboards/viewmessage.asp?no=10841103&t=0&all=0&StartDir=O&StartID=10846229&StartDateTime=2005-11-25
I think all the uninformed need to look at the past to get a clearer vision of the future. The Fever posted this a while back and I take the liberty of reposting so all the "Sheeple" out there can get an idea how bad they are about to get fleeced. If you need more evidence, I say "Baaaaaaa" 'cause I lost my winter coat on this POS pump 'n dump. Do your own DD and don't believe me but your own senses.
"One thing you won't find in a HAO press release is the name of the operator, location of the lease, flow rate, an actual date for production, or any empirical evidence of any sort that proves these guys have actually even been involved in a legitimate project of any sort. What you will find is speculative language that is meant to entice people who fall prey to emotional investing. It is pure hype and nothing but. And operating on revenue of about $50 per day because they're holding stakes like 0.375% on projects and hyping them up as part of their stable of 15 producers, making it seem as if they have MUCH more than they do, never releasing actual numbers or information about what their true holdings are.
In the 2.5 months I've been following them, they haven't released news about one successful project and no 'real' data whatsoever. Just press releases about website interviews and speculative hype about what they have planned right around the corner, none of which has ever panned out. Everything is always 2 weeks away. And when much hyped projects like the Pembina project come up dry they bury it in the press release and do a seamless transition to hyping up the Enchant project, which hasn't ever had any solid or 'real' information released about it yet. Always leaving investors hanging on. And a trip to their website to look at past press releases prompts an 'Internal Server Error' time after time.
The Fruitless Hype Machine/Broken Record
May 10 2004:
>"This could prove to be a significant time in the growth of HAO. We are striving to become a mid-range oil and gas company and securing interests in these types of prospects is a clear move in the right direction of achieving our goal. When you couple the historically high prices of oil and gas along with the number of our potential drill targets, this could be one of the most lucrative times in HAO's history."
July 30, 2004:
>"HAO now has interests in sixteen producing wells, with the potential for that number to increase in the next few months. It is very exciting to be able to announce a new successful well and with the remaining, fully paid for wells about to be tested, this could be a very important time for HAO's growth."
October 18, 2005
>"These are very exciting days at Habanero, and we think this quarter will be one of the most important in the future growth of Habanero."
October 25, 2005:
>"We are still in negotiations on some 'blue sky' or 'home run' type of oil and gas prospects, including an oil sand prospect, and we hope to have a decision on one or more of these prospects shortly."
He's been spewing this same crap in every news release from at least last May to now. I can't believe people are still buying into it.
Disappearing/Vague Projects That Aren't What They Seem or Never Pan Out
May 10 2004:
>"Habanero Resources Inc. ('HAO') is pleased to announce that it has been notified by PB Energy USA Inc., the operator, that drilling has commenced on the Manahuilla Creek Prospect in Goliad County, Texas. An estimated 7,000 foot test well will be located on approximately 1,265 continuous acres of oil and gas leases covering the expanded Yegua trend. The Middle Eocene sands of the expanded Yegua trend of the onshore Gulf Coast basin have been a prolific over pressured gas-condensate producer with total gas production to date exceeding 800 billion cubic feet with an estimated trend recovery close to 2 trillion cubic feet of gas. Drilling is expected to take approximately 10-14 days barring any unforeseen issues.
January 17, 2005:
>"Operations on the recently announced the Enchant Prospect in Alberta are now in the final stages." (STILL WAITING!)
>"Operations are expected to commence in January on the Red Water gas prospect in Alberta. The prospect consists of one initial well, with the potential to drill multiple wells if the first well is successful. The formation of primary interest on this property is the Viking Sands, which is gas productive throughout the immediate area. Recently, the Viking zones have been tested and produced gas in a number of wells in the immediate area of the prospect. Drill stem tests have resulted in flows in excess of 12,000,000 feet of gas per day."
March 07, 2005:
>"Habanero has an agreement to earn the right to participate in a proposed 50 oil well drill program in the “prolific” Kerrobert region of the province. According to the company, preliminary flow rates from the operator for the nine wells drilled there have discovered oil."
August 26, 2005
>"Habanero Resources Inc. ("HAO") (TSX VENTURE:HAO) wishes to report that it has entered into negotiations on a new multi-well oil and gas prospect in Alberta, Canada. The board is currently reviewing the project and a final decision is expected within the next 30 days."
September 21, 2005"
>"Habanero Resources Inc. ("HAO") wishes to report that an independent operator has been contracted for the Enchant Prospect in Alberta, Canada. The operator is based in Calgary and has many years of experience working on oil and gas wells. The operator is to establish a plan of operations going forward with work expected to commence on the well within 2-4 weeks."
October 18, 2005:
"Habanero Resources Inc. (TSX - VX: HAO), ("Habanero") wishes to announce that it has entered into negotiations on multiple new prospects, including an oil sands project. A decision on one or more of these prospects is expected shortly. Habanero has sufficient funds in the bank to cover the costs of these new prospects that are being evaluated. There is no guarantee that any of these deals will be completed."
They lay the dubiously suspicious claim to over $500,000 in the bank (on virtually no revenue and one failed project after another), yet are supposedly negotiating an oil sands play? That isn't even enough money to buy a HOUSE in Fort MacMurray, let alone a stake in an oil sands project. Yet more hype to drive up the price so insiders can sell it back down and do it all over again.
The Martex "Project"
May 10 2004 (yes, 2004):
>"New High Priority Gas Prospect in Texas Now Underway"
>"'This is an exciting new prospect for HAO and its shareholders. This prospect is in a world-class region and we are looking forward to exploring this project. When you factor in the Martex Prospect and this new Texas prospect, we could be drilling and/or testing as many as six wells within the next two months."
>"The remaining five wells on this prospect are expected to be tested within the next couple of months."
July 30, 2004:
>"Over the next four to six weeks, HAO has at least four more wells which are scheduled to be tested on three separate prospects in Texas."
January 17, 2005
>"The casing has been set and cemented on the Martex Prospect in Texas. It is anticipated that preliminary results from this well will be known within 7-10 days. This is the first of the remaining three wells on the Martex Prospect."
August 24, 2005:
>"It is also anticipated that the next Martex well, in Texas, will commence operations with within the next 10-14 days."
August 26, 2005:
>"The Martex Prospect in Texas is expected to recommence operations within the next 3-14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well."
September 02, 2005:
>"The Martex Prospect in Texas is also expected to recommence operations within the next 14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well."
September 07, 2005:
>"The Martex Prospect in Texas is expected to recommence operations within the next 3-14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well."
September 08, 2005:
>"The Martex Prospect in Texas is expected to recommence operations within the next 3-14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well.
September 13, 2005:
>"The Martex Prospect in Texas is expected to recommence operations within the next 3-14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well."
September 15, 2005:
>"The Martex Prospect in Texas is expected to recommence operations within the next 3-14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well."
September 21, 2005:
>"The Martex Prospect in Texas is expected to recommence operations within the next few weeks. Habanero is waiting for a rig to move onto the location once the rig has finished on its current well."
October 03, 2005:
>"The Martex Prospect in Texas is expected to recommence operations within the next few weeks."
October 7, 2005 :
>"The Martex Prospect in Texas is expected to recommence operations within the next few weeks."
October 18, 2005:
>"The Martex Prospect in Texas is expected to recommence operations over the coming weeks."
October 25, 2005:
>"The Martex Prospect in Texas is expected to recommence operations over the coming weeks."
A year and a half later and it's still just a couple of weeks away. Looking back at a press release dated as 'recent' as January 24, 2005 they were saying, "... our Texas prospect nearing completion. It is anticipated that preliminary results from this well will be known soon." And yet they're still waiting for a drilling rig to come onsite. Almost a year later. They were talking about Enchant back then, too. Still nothing on that either, though it was hyped to divert from the failed Pembina project which was never announced properly to shareholders. Notice a pattern?
No Successful Projects + No Revenue = More Money?
Aug 11, 2005:
>"HAO currently has approximately $270,000 in the bank."
Aug 24, 2005:
>"HAO is in great financial shape having over $300,000 in the bank..."
Aug 26, 2005:
>"We have all of our current drilling cost met, no long-term debt and approximately $300,000 in the bank..."
September 02, 2005:
>"We currently have no long-term debt, over $300,000 in the bank..."
September 07, 2005:
> "We currently have over $300,000 in the bank, no long-term debt, and all of the drilling costs have already been paid..."
September 08, 2005:
>"We feel at this time with Habanero having no long-term debt, over $300,000 in the bank..."
September 13, 2005:
>"Habanero has over $300,000 in the bank..."
September 21, 2005:
>"We have no long-term debt, over $500,000 in the bank..."
October 03, 2005:
>"We have over $500,000 in the bank..."
With revenue of about $50 per day, they somehow manage to almost double their bank account in a month, even after paying for all the unsuccessful attempts this quarter? Riiight.
And This Really Takes The Cake
https://66.102.7.104/search?https://66.102.7.104/search?q=cache:BxaF0ZvJ_gwJ:biz.yahoo.com/e/041115/frcd.ob10qsb.html+habanero+quarterly+revenue&hl=en
"On February 23, 2004, we entered into an assignment agreement whereby we agreed to assign to Habanero Resources Inc. one-fifth (1/5) of our interest in the Sub-Participation Agreement, being the right to earn a .375% interest in the test well and the program lands in consideration of Habanero assuming an equal share (1/5) of our costs under the Sub-Participation Agreement. As at September 30, 2004, Habanero has advanced to us $6,650 against future costs to be incurred.
As well, on February 23, 2004, we entered into an assignment agreement whereby we agreed to assign to Micron Enviro Systems Inc. one-fifth (1/5) of our interest in the Sub-Participation Agreement, being the right to earn a .375% interest in the test well and the program lands in consideration of Micron assuming an equal share (1/5) of our costs under the Sub-Participation Agreement. As at September 30, 2004, Micron has advanced to us $6,650 against future costs to be incurred."
So let me get this straight. One of the projects they hyped up as huge and count as one of their 15 producing projects is a 0.375% stake in a test well? Yeah, these guys are on the level...
Invest in HAO at your own peril. I'm glad I got out at the high. These guys make Frank Callaghan look legitimate. Made some good money on this paperhanger hype machine thanks to the suckers, but there aren't any shareholders now, just bagholders while the insiders continue to mass sell (which they have been, check canadianinsider.com) and then hype it back up while you buy their shares. I'll go with a REAL company like TRV anytime, thank you very much.
The Fever