Once the seismic is completed the data will be interpreted and evaluated with the known geology and previously gathered information to determine the proceeding steps for the potential Oil Sands pilot project planned for this prospect.
Jason Gigliotti, President of Habanero stated, "It is very exciting to be moving forward on the Peace River Oil Sands Prospect. The operator of the Peace River Prospect is planning on making an application shortly to the Alberta Government to initiate the potential pilot project. When you couple the ongoing activities with our recently announced Athabasca Oil Sands Prospect, it is clear that Habanero's future growth will be based on the potential development of these Alberta Oil Sands prospects. Management is also very pleased about the recent announcement by the operator of the Whitesands Oil Sands Project of the initial start-up of operations. The Whitesands Project is the closest major oil sands project to our property. I will also be going over to Europe next week for meetings with private and institutional investors. Our goal is to become a mid-range oil and gas company and we are striving to attain this goal through our exposure to the Alberta Oil Sands."
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