VANCOUVER, British Columbia, Oct. 7, 2005 (PRIMEZONE) -- Habanero Resources Inc. ("Habanero") (Other OTC:HBNRF) (TSX-V:HAO) wishes to announce that it is actively seeking a European listing, with a focus on listing on the Frankfurt Exchange. The European marketplace is an arena that has embraced junior oil and gas stocks, which have production and cash in the bank.
Jason Gigliotti, President of Habanero stated, "A European listing could aid significantly in Habanero's growth through potential European institutional and private investors. There currently is a large market for junior listed resources companies in Europe, especially for companies that have cash, drilling projects and no debt. Habanero has all of these traits, and we feel that exposing Habanero to a global market place should add substantial value for our current and future shareholders. Recently some Canadian junior companies have listed in Europe and have seen an increase in liquidity and market attention. We are currently evaluating a number of firms to aid in our listing and European exposure and we expect to make a final decision on a group shortly. We anticipate having our full USA quote within days, which will give Habanero exposure to a large portion of the global market. We have many U.S. and European shareholders, and feel that listing on these markets will enable a much broader increase in shareholder awareness for Habanero."
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 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.
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BY ORDER OF THE BOARD OF DIRECTORS "Jason Gigliotti" Jason Gigliotti, President
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