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.
“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”
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.
Source: Business Wire
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