Here's how Habanero/Micron played the game...
~~Micron's Part:
In February 2006, we entered into a participation agreement with Premium
Petroleum Inc., whereby we received a 5% working interest before and a 3%
working interest after payout in the Boyne Lake Project, located in Boyne Lake,
Alberta, Canada. During the year ended December 31, 2006, we paid $38,940 for
our share of the costs of the test well. The well was successfully drilled and
cased and has been declared on "Tight-Hole Status." We were informed by the
operator that the well commenced production during the year ended December 31,
2006, and was producing approximately 150,000 cf/day of gas from the Viking
zone, however we have not received any revenue reports and we do not expect to
receive any material revenue from this well.
In May 2006, we entered into a second acquisition agreement with Premium
Petroleum Inc. to acquire drilling and production rights to other depths on the
Boyne Lake Prospect for $7,508.
~~Habanero's part:
Alberta well encounters gas
by: OilOnline
Thursday, July 27, 2006
~~Non Sanctioned PR while on Tight Hole status #'s are preliminary from first test and not accurate!! But Jason didn't know what they were only that it made for a PR to raise his SP so he could sell more of his stock( His Game)imo
Habanero Resources Inc. has been informed by the operator that the Boyne Lake Prospect has encountered gas and tested for three hours with total gas flared .552 103m3 and final gas rate of 3.919 103m3/d (final production levels may vary from this number). The well is now shut in for buildup and it is expected to be tied in for sales by September. Habanero has a 20% working interest in this prospect.
Alberta, Canada – In February 2006, the Company entered into a participation agreement with Premium Petroleum Inc. to acquire a 5% working interest for $30,600 CDN (approximately $26,280 USD at December 31, 2005) in an oil and gas property located in Alberta, Canada. The well was successfully drilled and cased and has been declared on “Tight-Hole Status.” In May 2006, the Company entered into an additional agreement with Premium to acquire drilling and production rights to other depths on the Boyne Lake Prospect. During the year ended December 31, 2007, the Company sold its interests in this project to a related party.
~~Micron's Game: shuffling
On November 27, 2007, we sold our interests in all of our non-oilsands prospects to Giddy Up for $250,000. ( Jason Giggliotti/ Bradly RUDAMEN) AKA~ Habanero)
