SAN DIEGO--(BUSINESS WIRE)--Kabe Exploration (OTCBB: KABX) announced a tender offer from International Equity Partners Oil & Gas to acquire 100% of Kabe Exploration common shares in a 2-for-1 share exchange based upon a share valuation of .11700 EU per International Equity Partners shares which are Canadian Depository Receipts (CDS) currently offered at 2,50 EU per share in the European private placement market. Our board of directors has determined the proposed acquisition offer is not a fair offer in the interest of the company and its shareholders, thus rejecting the offer. Our management team hopes to develop a great independent oil and gas concern. “We will continue to work with International Equity Partners Oil & Gas in finding synergies between the two companies through joint venture partnerships for development opportunities,” says Erik Ulsteen, CEO and Chairman of the Board.
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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