(PublicWire.com Press Release) –SAN DIEGO, Jul 11, 2013 (BUSINESS WIRE) — Kabe Exploration (OTCBB: KABX) announces that an unsolicited tender offer has been presented by its joint venture partner International Equity partners Oil & Gas, Inc. to acquire 100% of its outstanding shares. The tender offer is subject to board approval and majority shareholders approval. Kabe Exploration Inc. announced on June 08, 2013 that it entered into a letter of intent to form a joint venture partnership with Canadian oil and gas holding company International Equity Partners Oil & Gas, Inc. for the exploration and development of 7,300 acres of oil leases in the highly productive Mississippian field of Southern Kansas. International Equity Partners Oil & Gas will contribute capital and expertise toward developing the assets for production. 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–that’s 9,600,000 total barrels for the project–over a billion dollars in oil at today’s prices.
About International Equity Partners Oil & Gas
INTERNATIONAL EQUITY PARTNERS OIL & GAS, INC. is a Canadian energy holding company. The company’s purpose is to acquire oil and gas assets, oil and gas exploration, refinery and pipeline sectors of the energy industry and other synergistic assets. We also are targeting oil field services companies for acquisition. We acquire assets under traditional debt, revolving credit facility, limited partnership, and direct equity ownership of assets, special purpose entity to hold assets, with the company maintaining controlling interest or joint venture interest.
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 production.
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SOURCE: Kabe Exploration, Inc.