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.