Drilling Commences on Habanero Resources' New Alberta Gas Prospect

Boyne Lake Prospect
(Click to Enlarge)
Habanero Resources says drilling has started at Boyne Lake Prospect. Drilling is expected to take approximately 7-10 days, barring any unforeseen issues. The seismic program on this prospect was comprised of three seismic lines for a total of 8.6 kilometers. The lines tie in the neighbor's successfully tested well (3.4 million cubic feet of gas per day absolute open flow) three quarters of a mile northwest of the property and in addition also incorporate parts of two neighboring sections along with the Boyne Lake Prospects' owned section. This prospect is approximately 75 kilometers away from Athabasca, Alberta. Habanero has a 20% interest in this prospect.

In other news, a decision regarding an Oil Sands consortium announced in January is expected next week.

Jason Gigliotti, President of Habanero stated, "It is great to be drilling again. When you couple this new drill program with the current work being done on the Alberta Oil Sands Project, it is clearly an exciting time for Habanero. If you also consider that we could be entering into a new oil sands venture, the future is looking positive for 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 companies that has exposure to the Alberta Oil Sands. Habanero's goal is to become a mid range oil and gas producer. Habanero currently has operations located on multiple oil and gas fields located in Texas, Saskatchewan and Alberta.


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