Kabe Exploration Inc. (OTCBB: KABX) today announced that Fortune Oil & Gas Ltd. has agreed to be the operator for the Horizontal Mississippian Lime Oil Development in Cowley County, Kansas. Fortune (based in Willis, Texas) is a registered operator in Kansas, Texas and Louisiana. Fortune will be engaged in the upstream activities of developing and operating production for Kabe in a proposed development of up to 50 horizontal oil wells in the Mississippian Lime Oil Development.
“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”
Mr. Russell Vera is the President of Fortune Oil & Gas Ltd. He brings over 20 years of experience in the oil and gas industry in all facets of operations including prospect engineering and horizontal drilling.
Furthermore, Mr. Vera’s operational team has extensive experience in the application technological advances such as fracture stimulation design to develop oil and gas reserves. Results of Mississippian Lime horizontally drilled wells demonstrate the potential for 300,000 - 400,000 barrels of oil equivalent (Boe) per well at relatively shallow drilling depths of approximately 4000 feet with high oil quality of 35-38 degree API gravity.
Kabe Exploration Inc. is also moving forward with established industry partners in coordination with this process. Preliminary discussions have proceeded in a significant manner in order to form a comprehensive management team with the proven engineering and operational expertise for the planned oil development.
Source: Business Wire
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