EX-99.1
2
cic8kex991051408.txt
PRESS RELEASE
CabelTEL
International Corporation
Exhibit 99.1
CABELTEL SELLS MINERAL INTERESTS
For Immediate Release Contact: Oscar Smith
Gene Bertcher
(972) 407-8400
Dallas, Texas (Business Wire) May 14, 2008: CabelTel International Corporation
(AMEX: GBR, "the Company"), a Dallas-based company announced today that on May
9, 2008 the Company sold certain mineral interest leasehold rights in the
Fayetteville Shale area of Arkansas to an unrelated third party. In addition to
selling approximately 1,712 acres the Company also exercised an option to
acquire an additional 2,398 acres and sold those interests to the same party at
the same time. The sale of these interests resulted in the Company receiving
cash of approximately $16 million and recording an after tax gain of
approximately $14.5 million.
According to Gene S. Bertcher, President and Chief Executive Officer, "The
Company intends to continue to pursue opportunities to acquire existing oil and
gas operations and or acquire mineral leasehold rights for the purpose of
developing oil and gas operations in the future".

EX - 99 . 1 2 cic8kex991051408 . txt PRESS RELEASE CabelTEL International Corporation Exhibit 99 . 1 CABELTEL SELLS MINERAL INTERESTS For Immediate Release Contact : Oscar Smith Gene Bertcher ( 972 ) 407 - 8400 Dallas , Texas ( Business Wire ) May 14 , 2008 : CabelTel International Corporation ( AMEX : GBR , " the Company " ) , a Dallas - based company announced today that on May 9 , 2008 the Company sold certain mineral interest leasehold rights in the Fayetteville Shale area of Arkansas to an unrelated third party . In addition to selling approximately 1,712 acres the Company also exercised an option to acquire an additional 2,398 acres and sold those interests to the same party at the same time . The sale of these interests resulted in the Company receiving cash of approximately $ 16 million and recording an after tax gain of approximately $ 14.5 million . According to Gene S . Bertcher , President and Chief Executive Officer , " The Company intends to continue to pursue opportunities to acquire existing oil and gas operations and or acquire mineral leasehold rights for the purpose of developing oil and gas operations in the future " .
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