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.
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KEYWORDS: United States North America California Kansas