Received additional information regarding the initial test well on the Leismer Oil Sands Prospect in Alberta, Canada from the operator. Based on this data the main zone holding oil bearing sands is situated
from approximately 383 metres to 395 metres within the McMurray Oil Sands Formation. Within this zone the average oil saturation (pore volume) was 71.8% (35 readings) with a high reading of 94.8% and a low of 48.7%. The calculated porosity was 31.9 and the horizontal permeably was 3693 mD (milli Darcy). Habanero has a 16.67% net interest in this prospect.
February 15, 2007
Reproted interpretation of the seismic data, core hole data and log data has confirmed from initial evaluation of the data on the Leismer prospect. Based on this data, Habanero estimated the thickness of the McMurray Formation could be 22 metres (72 feet gross) 375 metres below surface.
January 19, 2007
Announced that management has been informed that the seismic operations on the Leismer
Oil Sands Prospect is complete. The test well on this prospect was also just recently completed. The combined data will be interpreted and released shortly.
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