Habanero to Participate in New Potential Multi-Well Prospect in Alberta
Habanero Resources Inc. has entered into a participation agreement on a potential multi-well oil and gas prospect in Alberta. 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 shortly.
Habanero is in the process of further increasing its interest in the Alberta Oil Sands project, and a response is expected shortly.
Jason Gigliotti, President of Habanero Resources stated,
"It is very exciting to have a new conventional drill prospect
to add to our existing producing oil and gas prospects as
well as our Alberta Oil Sands project. Alberta is one of
the largest oil and gas regions in the world and we look
forward to drilling this new prospect shortly. We are continuing
to look for ways to add shareholder value as the Alberta
Oil Sands project is developed over the coming months and
years. As it stands now, Habanero is one of, if not the
smallest market capitalized companies that has exposure
to the massive Alberta Oil Sands. When you take this into
account along with the fact that we have no long-term debt,
we have revenue coming in, cash in the bank and that oil
and gas prices are currently near all time highs, we think
our shareholders should share our enthusiasm for Habanero's
growth in the upcoming year."
- 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)