Habanero in Talks for Multiple Oil & Gas Prospects in Alberta
Habanero Resources Inc. has entered into negations on multiple oil and gas prospects located throughout Alberta, Canada. A decision on one or more of these prospects is expected shortly.
Habanero recently announced a participation agreement on a potential multi-well oil and gas prospect in Alberta (press release dated December 19, 2005). The first well is in a development location within the Cardium Burnstick Member reservoir trend in the area located south of Edmonton, Alberta. Habanero has secured a 10% working interest in this prospect. Drilling is expected to commence in the first quarter 2006.
Habanero is in the process of further increasing its interest in the Alberta Oil Sands Project, a response is expected this month.
Jason Gigliotti, President of Habanero stated, "Things are
going extremely well for Habanero right now. We currently
have more money in the bank than at any point over the last
7 years. We plan to utilize our funds towards either increasing
our interest in the Alberta Oil Sands Project or taking
on additional conventional drill programs, which are looking
to drill this quarter. As it stands now, we have two conventional
oil and gas prospects that we have not even commenced drilling
on, and the ongoing development of the Oil Sands prospect
will occur over the coming months and years; therefore we
feel the future growth potential of Habanero has not even
taken place yet."
- Habanero Drops 50% Interest in 2 Oil Sands Leases (Jan 20)
- Habanero Proposes Drill Program on Oil Sands Prospect (Aug 22)
- Habanero Acquires Interest in Alberta Oil Sands Sections (Jul 13)