Habanero Resources Inc.

Habanero Resources Inc.

August 26, 2005 08:00 ET

Habanero Negotiating on New Multi-Well Oil & Gas Prospect in Alberta

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 26, 2005) - Habanero Resources Inc. ("HAO") (TSX VENTURE:HAO) wishes to report that it has entered into negotiations on a new multi-well oil and gas prospect in Alberta, Canada. The board is currently reviewing the project and a final decision is expected within the next 30 days.

The Pembina Well is scheduled to be tested next week. It is expected that two weeks after the frac is completed initial results should be known.

The Martex Prospect in Texas is expected to recommence operations within the next 3-14 days. HAO is waiting for a rig to move onto the location once the rig has finished on its current well.

Jason Gigliotti, president of HAO stated, "This next month is going to be one of the most active periods for HAO as we are expecting results from at least two separate drill programs. We are focused on growing HAO's assets and increasing revenue through drilling of our existing properties as well as adding new oil and gas prospects that fit our criteria of low risk, high reward projects. We have all of our current drilling cost met, no long-term debt and approximately $300,000 in the bank. Being president and the largest shareholder of the company, I will be doing all I can to increaser the shareholder value. I am very encouraged about the future of HAO and feel the HAO shareholders will share this enthusiasm given the current status of the company and the recent all time highs on oil and near all time highs on natural gas."

HAO is an emerging junior oil and gas company focused on high reward, low risk oil and gas exploration and production in North America. HAO's goal is to become a mid range oil and gas producer. HAO 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 HAO's email updates list, please send an email to ir@habaneroresources.com requesting to be added.


Jason Gigliotti, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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