VANCOUVER, British Columbia, Oct. 3, 2005 (PRIMEZONE) -- Habanero Resources Inc. ("Habanero") (Other OTC:HBNRF) (TSX Venture:HAO) is extremely pleased to announce that it will be submitting the Form 15C2-11 document later today or tomorrow, which is an information and disclosure statement, to attain a full U.S. quoted listing (press release dated September 15, 2005). It is anticipated that the U.S. trading symbol of HBNRF will be fully quoted within the next 14 days. The U.S. listing will enable potential shareholders who are outside of Canada to trade the common shares of Habanero more easily. Habanero's shares currently trade under the U.S. symbol HBNRF, but it is just a clearing symbol at this time showing no bid or ask price. This new listing will cause no change in the number of shares outstanding, nor will it have any impact on shareholders who already own shares at this time. At this time, approximately 99% of HAO's volume is traded on the TSX Venture Exchange in Canada.
Jason Gigliotti, President of Habanero stated, "These next two months are going to be the busiest in recent history for Habanero. We are about to attain our fully quoted U.S. listing, which could be one of the most important events for the company. Habanero currently has a large international shareholder base and having this full quote will enable a much larger audience to participate in the trading of Habanero shares without causing any dilution or change to any existing shareholders. When you couple this with our marketing efforts over the next few months, and that multiple oil and gas drill programs are about to commence, it is clear that the fourth quarter of 2005 may be a watershed quarter for Habanero. Habanero has just been notified that it has been included in the first ever microcap oil and gas index, making them Habanero's first institutional shareholder when they purchase shares in the company. We have over $500,000 in the bank, with no long-term debt, and all of our current drill programs are funded, at a time when oil and gas prices are near all-time highs. Our goal is to become a mid-range oil and gas producer and we are anticipating that this quarter could be an import period in regards to attaining our goal."
Jason Gigliotti, President of Habanero, will be giving a presentation regarding the company's upcoming multiple oil and gas drill programs to approximately 50-100 brokers, fund mangers and institutional investors at the Richmond Club in Toronto on Wednesday October 5, 2005. Also, Habanero has just signed up with Stockhouse Media to support in our ongoing marketing efforts. Stockhouse has a large following within the microcap market and should assist Habanero in presenting the company to a larger potential shareholder base. Furthermore, Habanero has been advised that an insert in the Globe and Mail and Northern Miner is in the process of going out in the next few days. This is the first portion of approximately 130,000 inserts to be disseminated.
Habanero is expecting a full report on the Enchant Oil and Gas Prospect to be received from the new operator within the next week (press release dated September 21, 2005). This report will lay out the drilling plan for this prospect. This prospect carries the largest net interest that Habanero currently has on its oil and gas prospects.
The Martex Prospect in Texas is expected to recommence operations within the next few weeks. Unfortunately, the hurricanes caused delays throughout the gulf region and the operator is now anticipating operations to start back up shortly. Habanero has two more fully paid wells to complete on this prospect. Habanero has already had 5 out of 5 wells drilled successfully on this prospect.
Habanero was recently notified by Liberty Fund Management that it will be part of the Liberty Micro-Cap Oil and Gas Index (press release dated September 19, 2005). According to a Liberty Fund Management news release dated September 19, 2005, "Liberty Fund Management will be launching the world's first, micro-cap Oil and Gas index on September 30, 2005 . . . The portfolio manager of the Liberty Micro-Cap Oil and Gas Index Fund will be Richard Johnston, MBA, and CFA whom previously was the Chief Investment Officer for a CDN $6.5 billion pension fund. There will be approximately two hundred companies, including Habanero Resources, in the index. The collective market cap of all of the companies in the index is approximately CDN $4 billion. The objective of the fund is to provide large cap investors with a way to get exposure to the higher rates of return that micro-cap equities offer, while minimizing some of the volatility and liquidity problems that accompany micro-cap companies."
Habanero is currently in negotiations on a new multi-well oil and gas prospect in Alberta, Canada (press release dated August 26, 2005). The board is still reviewing this project and a final decision is expected shortly.
Habanero is an emerging junior oil and gas company focused on high reward, low risk oil and gas exploration and production in North America. Habanero's goal is to become a mid range oil and gas producer. Habanero currently earns oil and gas revenue from 15 wells located on multiple oil and gas fields located in Texas, Saskatchewan and Alberta.
If you would like to be added to Habanero's email updates list, please send an email to ir@habaneroresources.com requesting to be added.
BY ORDER OF THE BOARD OF DIRECTORS
"Jason Gigliotti" Jason Gigliotti, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.