SOURCE: Kabe Exploration, Inc
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.
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