Kabe Exploration Inc. Recognizes Cowley County, Kansas Mississippian Lime Oil Development
SAN DIEGO--(BUSINESS WIRE)-- Kabe Exploration Inc. (OTCBB: KABX) today recognizes yet another successful completion of a Mississippian Lime Oil Development well in close proximity to Kabe's proposed development acreage in Cowley County, Kansas. "Kabe has monitored this well with great interest as it is situated just six miles to the west of a large acreage block we hold," said Erik Ulsteen President of Kabe. "This well was completed by another firm this month with reports showing that the well is exhibiting very good oil production in the initial phases. Just last year Nadel & Gussman completed two wells approximately 8 miles to the east of our acreage; these two Nadel & Gussman wells in conjunction with the recent completion 6 miles to the west appears to put Kabe's acreage holdings in the middle of the Cowley County Mississippian fairway," Ulsteen added.
Initial production results of the major oil companies such as Range Resources, Spyglass and Sanridge Energy in the Mississippian Lime horizontally drilled wells demonstrate the potential for initial production rates greater than 500 barrels of oil per day equivalent (Bopde). With the Estimated Ultimate Recovery (EUR) potential of 300,000 to 400,000 barrels of oil equivalent (Boe) per well. These wells are drilled and produced at relatively shallow drilling depths of approximately 4000 feet with high oil quality of 35-38 degree API gravity thus making very favorable production economics compared with any Continental United States oil play.
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 oil and gas production within the United States. Kabe's primary goal is to increase the value of acquired assets through a combination of exploration, horizontal drilling, and proven engineering extraction processes that develop the production potential of these properties.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that involve a number of risks and uncertainties. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements. 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.
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