Habanero reports heavy oil pilot in Alberta

By OGJ editors
HOUSTON, Nov. 18 -- Habanero Resources Inc., Vancouver, BC, reported plans for a steam-assisted gravity drainage pilot project in the Peace River oil sands region of Alberta after agreeing to acquire an equity interest in a private company that controls 10,000 acres in the area.

The private company will file an application to the Alberta Energy and Utilities Board for the pilot plant during first quarter of next year, Habanero said.

According to Habanero, the company in which it has acquired the interest plans to drill two additional wells and shoot a 3D seismic survey to reassess the size and extent of its reserves and administer the pilot project. Habanero "may have the option to participate in the development and exploitation of the prospect in the future."

According to a report completed by DeGolyer & MacNaughton of Calgary on Sept. 1, the acreage holds possible and probable reserves of 111.3 million bbl of oil. There is likely a supply of condensate in the area for treating and blending the heavy oil for pipeline sales.

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