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."