Kabe Exploration Announces Oil and Gas Acquisition Plans
09 December 2013 - 11:00AM
Marketwired
Kabe Exploration Announces Oil and Gas Acquisition Plans
SAN DIEGO, CA--(Marketwired - Dec 9, 2013) - Kabe Exploration
Inc. (OTCBB: KABX) (OTCQB: KABX) is pleased to announce it has
submitted a proposal to acquire a 140 acre proven producing
oilfield located in Murray County, OK. The oilfield current
production is 93 BOPD with cash flow over $2,000,000 annually. The
field has estimated 2 million proven recoverable barrels of oil
with 13 wells (9 producing), shallow depths of 1500 ft. We plan to
go into the field and drill additional wells and re-work existing
wells with acidation and other stimulation treatments to increase
production from these wells. This prolific field will enhance our
portfolio of oil and gas assets to build a great independent oil
company. "We have seen an overwhelming response to our capital
raise efforts which has strengthened our balance sheet and believe
that acquiring core producing assets with good revenues will create
shareholder value in the long term," says Erik Ulsteen, CEO.
About Kabe Exploration Inc.
Based in San Diego, California, Kabe Exploration Inc. is an oil
& gas exploration and development company that acquires mineral
rights in prolific shale plays for production.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that
involve a number of risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "believes," "expects," "may,"
"will," "intends, "plans," "should," "seeks," "pro forma,"
"anticipates," "estimates," "continues," or other variations
thereof (including their use in the negative), or by discussions of
strategies, plans or intentions. A number of factors could cause
results to differ materially from those anticipated by such
forward-looking statements, including those discussed under "Risk
Factors" and "Our Business." Forward-looking statements are subject
to known and unknown risks and uncertainties and are based on
potentially inaccurate assumptions that could cause actual results
to differ materially from those expected or implied by the
forward-looking statements. Our actual results could differ
materially from those anticipated in the forward-looking statements
for many reasons.
Media Relations: Erik Ulsteen Contact: 858 699 1359 Email:
investorrelations@kabeexploration.com Website:
www.kabeexploration.com