Kabe Exploration Announces Significant Oil and Gas Acquisition
November 26 2013 - 4:15PM
Marketwired
Kabe Exploration Announces Significant Oil and Gas Acquisition
SAN DIEGO, CA--(Marketwired - Nov 26, 2013) - Kabe Exploration
Inc. (OTCQB: KABX)
Kabe Exploration is pleased to announce it has entered into a
letter of intent to acquire a 160 acres proven producing oilfield
located in Cheyenne County, NE with an option to purchase an
additional 1280 acres. The oilfield has been producing oil since
1988 averaging approx. 600 bbl per month crude oil production. The
producing wells in this field had $500,000 revenue last year. 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 are in negotiations with institutional
investors to close this acquisition."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