-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SKubHALS9/7SZVNyqtrbXz3T/rFgwrBBx9OlAQhLb7M7uDuY2LIk9ny7nmxrZD7R
 EtKNEHB4jpST3hiYHoNSng==

<SEC-DOCUMENT>0001010549-06-000339.txt : 20060525
<SEC-HEADER>0001010549-06-000339.hdr.sgml : 20060525
<ACCEPTANCE-DATETIME>20060525103211
ACCESSION NUMBER:		0001010549-06-000339
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060524
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060525
DATE AS OF CHANGE:		20060525

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CabelTel International Corp
		CENTRAL INDEX KEY:			0000105744
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-SKILLED NURSING CARE FACILITIES [8051]
		IRS NUMBER:				752399477
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08187
		FILM NUMBER:		06865877

	BUSINESS ADDRESS:	
		STREET 1:		1755 WITTINGTON PLACE
		STREET 2:		SUITE 340
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		9724078400

	MAIL ADDRESS:	
		STREET 1:		1755 WITTINGTON PLACE
		STREET 2:		SUITE 340
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREENBRIAR CORP
		DATE OF NAME CHANGE:	19960514

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDICAL RESOURCE COMPANIES OF AMERICA
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESPAC INVESTORS TRUST
		DATE OF NAME CHANGE:	19900605
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>cabel8k052406.txt
<TEXT>

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

         Pursuant to Section 13 or 15(d) of the Securities Exchange Act

                          Date of Report: May 24, 2006
                        (Date of Earliest Event Reported)


                       CABELTEL INTERNATIONAL CORPORATION
             (Exact Name of Registrant as Specified in its Charter)


           Nevada                     000-08187                  75-2399477
       (State or other               (Commission              (I.R.S. Employer
jurisdiction of incorporation)         File No.)             Identification No.)


                        1755 Wittington Place, Suite 340
                               Dallas, Texas 75234
                    (Address of principal executive offices)


                                  972-407-8400
              (Registrant's telephone number, including area code)



     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the Registrant under any of the
following provisions:

     o    Written  communications  pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)
     o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
          CFR 240.14a-12)
     o    Pre-commencement  communications  pursuant to Rule 14d-2(b)  under the
          Exchange Act (17 CFR 240.14d-2(b))
     o    Pre-commencement  communications  pursuant to Rule 13e-4(c)  under the
          Exchange Act (17 CFR 240.13e-4(c))

================================================================================

<PAGE>

Section 2 - Financial Information

Item 2.02.  Results of Operations and Financial Condition

     On  May  24,  2006,  CableTel  International   Corporation  ("CIC"  or  the
"Company")  announced its operational results for the fiscal quarter ended March
31, 2005. A copy of the announcement is attached as Exhibit "99.1."

     The information furnished pursuant to Item 2.02 in this Form 8-K, including
Exhibit "99.1" attached  hereto,  shall not be deemed to be "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the
liabilities of that Section, unless we specifically  incorporate it by reference
in a document filed under the Securities Act of 1933 or the Securities  Exchange
Act of 1934. We undertake no duty or obligation to publicly update or revise the
information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

Section 9 - Financial Statements and Exhibits

Item 9.01.  Financial Statements and Exhibits

     (c)  Exhibits.

     The following exhibit is furnished with this Report:


       Exhibit
     Designation         Description of Exhibit

        99.1*       Press Release dated May 24, 2006.

- ---------------------
*Furnished herewith.











<PAGE>

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant has  duly-caused  this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly-authorized.

     Dated: May 25, 2006.                     CABLETEL INTERNATIONAL CORPORATION

                                           By: /s/ Gene S. Bertcher
                                              -------------------------------
                                              Gene S. Bertcher, President and
                                              Chief Financial Officer



















</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>cabel8kex991052406.txt
<DESCRIPTION>PRESS RELEASE DATED MAY 24, 2006
<TEXT>

                                                                    EXHIBIT 99.1

CabelTEL
International Corporation


                       CabelTel International Corporation
                       Reports 2006 First Quarter Results

Dallas, Texas (Business Wire) May 24, 2006: CabelTel  International  Corporation
(AMEX:  GBR,  "the  Company"),  a  Dallas-based  company with  investments  in a
retirement  center, gas and oil wells, a North Texas outlet mall and a Bulgarian
telecommunications  company,  today reported a net loss of $298,000 or $0.31 per
share for the three months ended March 31, 2006,  compared to a loss of $137,000
and $0.14 per share for the same period in 2005.

On October 12, 2004, the Company acquired, for 31,500 shares of newly-designated
2% Series J Preferred  Stock,  74.8% of CableTEL  AD  ("CableTEL"),  a Bulgarian
telecommunications  company. The terms of the acquisition  agreement require the
Company to present a  proposal  to its  stockholders  to approve  the  mandatory
exchange  of all shares of Series J  Preferred  Stock into  8,788,500  shares of
common stock which,  if approved by  stockholders,  would  represent  90% of the
resulting total issued and outstanding shares of common stock in the Company. As
of this date, the exchange has not occurred.  The Company's financial statements
do not reflect CableTEL AD and will not do so until the exchange is completed.

Key items for the three months ended March 31, 2006, compared to the same period
in 2005 included:

The Company reported a net loss of $298,000 for the three months ended March 31,
2006 as compared to a net loss of $137,000 for the three period ending March 31,
2005.

For the three months ended March 31, 2006, the Company recorded revenues of $1.2
million for its real  estate  operations,  as  compared to $1.1  million for the
three months ended March 31, 2005.

For  the  three  months  ended  March  31,  2006,  revenues  for the oil and gas
operation  was $454,000 as compared to $414,000 for the three months ended March
31, 2005.  The increase was due  principally  to increases in the price of crude
oil.

For the three months ended March 31, 2006, real estate  operating  expenses were
$878,000 as compared to $606,000 for the three months ended March 31, 2005.  The
increase  was  due  principally  to  increases  in  operating  costs,  including
promotional expenses, for the Gainesville outlet mall during the period.

For the three months ended March 31,  2006,  operating  expenses for the oil and
gas  operation  were $331,000 as compared to $267,000 for the three months ended
March 31, 2005. The increase was due principally to the cost of well repairs.

<PAGE>

For the three months  ended March 31,  2006,  the  depletion,  depreciation  and
amortization  expense was  $125,000 as compared to $109,000 for the three months
ended March 31, 2005.

For the three  months  ended March 31,  2006,  interest  income was  $317,000 as
compared to $95,000 for the three months ended March 31, 2005.  The increase was
due  principally  to an increase in notes  receivable  due from  CableTEL  AD, a
related party, in 2006, as compared to 2005.

Interest  expense was $460,000 for the three months and three months ended March
31, 2006 as compared to $190,000  for the three  months and three  months  ended
March 31, 2005.  The increase was  primarily  due to interest paid on borrowings
which funded the increased notes receivable from CableTEL mentioned above.

CabelTel  International  Corporation (AMEX: GBR) is a Dallas-based  company with
investments in a retirement center, gas and oil wells, a North Texas outlet mall
and a Bulgarian  telecommunications  company.  For more  information,  go to the
Company's website at www.cabeltel.us.

     Certain  statements  in this media release are  forward-looking  statements
     within the meaning of the Private Securities Litigation Reform Act of 1995,
     Section  27A  of  the  Securities  Act  of  1933,  and  Section  21E of the
     Securities  Exchange Act of 1934. The words "estimate",  "plan",  "intend",
     "expect",  "anticipate",  "believe" and similar expressions are intended to
     identify forward-looking  statements.  These forward-looking statements are
     found  at  various  places  throughout  this  Report  and in the  documents
     incorporated  herein  by  reference.   CabelTel  International  Corporation
     disclaims   any   intention   or   obligation   to  update  or  revise  any
     forward-looking statements, whether as a result of new information,  future
     events or otherwise.  Although we believe that our  expectations  are based
     upon reasonable  assumptions,  we can give no assurance that our goals will
     be  achieved.  Important  factors  that could  cause our actual  results to
     differ  from  estimates  or  projects  contained  in  any   forward-looking
     statements are described  under ITEM 1A. RISK FACTORS in the Company's Form
     10-K for the fiscal year ended December 31, 2005.

     Contact:
     Gene Bertcher or Oscar Smith (972) 407-8400




<PAGE>
<TABLE>
<CAPTION>

                       CabelTel International Corporation
                           Consolidated Balance Sheets
                             (Amounts in thousands)

                                                              March 31,    December 31,
Assets                                                          2006           2005
                                                            (Unaudited)
                                                            ------------   ------------
<S>                                                         <C>            <C>
Current assets
         Cash and cash equivalents                          $        135   $        650
         Accounts receivable-trade                                   326            339
         Note receivable                                             156            306
         Other current assets                                        340            179
                                                            ------------   ------------

                  Total current assets                               957          1,474

Notes receivable net of deferred income                              310            309

Property and equipment, at cost
         Land and improvements                                     2,232          2,232
         Buildings and improvements                                5,299          5,298
         Equipment and furnishings                                   294            292
         Proven oil and gas properties (full cost method)          1,401          1,401
                                                            ------------   ------------
                                                                   9,226          9,223
                   Less accumulated depreciation and
                           depletion                               1,048            963
                                                            ------------   ------------
                                                                   8,178          8,260

Deferred tax asset                                                 1,161          1,161

Due from CableTEL AD - related party                               8,236          8,004

Other assets                                                         866            872
                                                            ------------   ------------

                                                            $     19,708        $20,080
                                                            ============   ============
</TABLE>





<PAGE>
<TABLE>
<CAPTION>

                       CabelTel International Corporation
                     Consolidated Balance Sheets - Continued
                  (Amounts in thousands, except share amounts)

                                                        March 31,     December 31,
Liabilities and Stockholders' equity                      2006            2005
                                                      (Unaudited)
                                                      ------------    ------------
<S>                                                   <C>             <C>
Current liabilities
         Current maturities of long-term debt         $      2,384    $      2,383
         Accounts payable - trade                              690             842
         Accrued expenses                                      990           1,236
         Other current liabilities                             414             371
                                                      ------------    ------------

                  Total current liabilities                  4,478           4,832

Long-term debt                                              13,527          13,560

Other long term liabilities                                  1,249             936
                                                      ------------    ------------

                  Total liabilities                         19,254          19,328

Stockholders' equity
         Preferred stock, Series B                               1               1
         Preferred stock, Series J 2%                        3,150           3,150
         Preferred stock, Series J 2% contra equity         (3,150)         (3,150)
         Common stock $.01 par value; authorized,
                  4,000,000 shares; 976,955 shares
                  issued and outstanding                        10              10
         Additional paid-in capital                         55,966          55,966
         Accumulated deficit                               (55,523)        (55,225)
                                                      ------------    ------------

                                                               454             752
                                                      ------------    ------------

                                                      $     19,708    $     20,080
                                                      ============    ============
</TABLE>





<PAGE>

                       CabelTel International Corporation
                      Consolidated Statements of Operations
                  (Amounts in thousands, except per share data)

                                                           For The Three Month
                                                               Period Ended
                                                                 March 31,
                                                             2006        2005
                                                           -------     -------
(Unaudited)
Revenue
         Real estate operations                            $ 1,176     $ 1,100
         Oil and gas operations                                454         414
                                                           -------     -------
                                                             1,630       1,514
                                                           -------     -------

Operating expenses
         Real estate operations                                878         606
         Oil and gas operations                                331         267
         Lease expense                                         236         231
         Depletion, depreciation and amortization              125         109
         Corporate general and administrative                  215         262
                                                           -------     -------
                                                             1,785       1,475
                                                           -------     -------

         Operating earnings (loss)                            (155)         39

Other income (expense)
         Interest income                                       317          95
         Interest expense                                     (460)       (190)
         Net loss on sale of assets                           --          (118)
         Other                                                --            32
                                                           -------     -------
                                                              (143)       (181)
                                                           -------     -------

Loss from continuing operations                               (298)       (142)

Discontinued operations
Gain (loss) from discontinued operations                      --             5
                                                           -------     -------

         Net earnings (loss) applicable to common shares      (298)       (137)
                                                           -------     -------

Earnings per common share - basic
         Continuing operations                             $ (0.31)    $ (0.14)
         Discontinued operations                              --          --
         Net earnings (loss) per share                     $ (0.31)    $ (0.14)
                                                           =======     =======

Weighted average of common and equivalent shares
outstanding - basic and diluted                                977         977

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
