Habanero Acquires Interest in Alberta Oil Sands Sections
Habanero Resources Inc. attains a 95% interest in 4 new Athabasca Oil Sands sections. These new sections are contiguous to an existing leases acquired earlier this year comprised of two sections. This now gives Habanero six contiguous sections on this prospect. The block of 6 contiguous sections is located at 4-10-089 and covers the Oil Sands below the top of the Viking formation to the base of the Woodbend Group.
Jason Gigliotti, President of Habanero Resources stated, "Habanero has now added 26 gross (24.7 net, 15,625 acres) sections in the last two weeks alone. At this time of historically high oil prices, management feels that the Oil Sands of Alberta will be the key to the future growth of Habanero. Management expects to add additional oil sections in the future and will attempt to develop a work program in the future on one or more of the oil sands prospects that Habanero has an interest in with the final goal of going into production."
Habanero is an emerging junior oil and gas company focused on developing and acquiring Alberta Oil Sands Prospects. Habanero has an interest in 46.5 (29,415 acres ) gross and 35.45 (22,425 acres) net Alberta Oil Sands sections, as well as having exposure to approximately 55,000 acres of oil sands interests in the Peace River region of Alberta though its equity ownership in Andora Energy Corporation ("Andora"). Habanero owns 700,000 common shares of Andora which are currently deemed at $2.86 based on a proposed combination previously announced.
- 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)