Kabe Exploration Inc. Closes Oil Asset Acquisition
Kabe Exploration Inc. Closes Oil Asset Acquisition
SAN DIEGO, Calif.--(BUSINESS WIRE)-- Kabe Exploration Inc. (KABXD: OTC BB) today announced the closing of its acquisition of 7,300 acres of oil leases in the highly productive Mississippian field of southern Kansas. KABE's five year operational plan is expected to bring 24 new oil wells into production.
Each well in the area is estimated to yield 400,000 barrels of oil - 9,600,000 total barrels for the project, approximately one billion dollars' worth at today's oil prices.
Oil prices have climbed from $30/barrel in 2003 to over $111 in 2012 - a 270% increase. Limited supply and political instability virtually guarantee that oil prices will continue to rise.
KABE has an experienced management team in oil and gas exploration, and has partnered with Fortune Oil and Gas for drilling and operations - resulting in lower operational costs.
About Kabe Exploration Inc.
Based in San Diego, California, Kabe Exploration Inc. is an oil and 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.
Kabe Exploration
Erik Ulsteen, 760-444-4562
Media Relations
investorrelations@kabeexploration.com
Website: www.kabeexploration.com
KEYWORDS: United States North America California Kansas
INDUSTRY KEYWORDS:
The article Kabe Exploration Inc. Closes Oil Asset Acquisition originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
