News And Leismer Update Soon..2007-02-13 18:42:00 - News Release
Mr. Jason Gigliotti reports
HABANERO RESOURCES INC. ACQUIRES 50% INTEREST IN SIX NEW ALBERTA OIL SANDS SECTIONS
Habanero Resources Inc. has acquired a 50-per-cent interest in six new oil sands sections in Alberta. These new sections comprise 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 comprises two sections that are located within and contiguous to Fort McMurray, Alta. The other four sections acquired are contiguous to Habanero's recently announced (see Stockwatch news Jan. 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-per-cent net interest in this prospect.
Regards IzY