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Kabe Exploration Inc. (OTC: KABX) has acquired 320 mineral lease acres in Butler County, Kan.
According to the release, Kabe reported a letter of intent with Mazzullo Exploration LLC & McLeod Exploration to acquire the acres representing an 81% net revenue interest.
The plan is to drill shallow wells 3,300 feet to 6,000 feet on a turnkey basis. The company hopes to achieve production of 100 barrels of oil per day to 200 barrels of oil per day for each well and plans to drill one well initially and up ...