Cub Energy Inc. , announces it has entered into a share purchase agreement to sell its 50% interest in CNG Holdings Netherlands B.V. , which in turn owns CNG LLC , the 100% owner of the Uzghorod licence in western Ukraine. Cub is to receive consideration of €800,000 for its 50% interest in CNG. The consideration consists of €600,000 in cash on closing and €200,000 is a contingent payment on certain future events including [...]
Cub Energy Inc. announces the results of its independent reserves evaluations as of December 31, 2020 on its oil and gas properties in Ukraine. The evaluation was performed on the Company's 35% working interest in KUB-Gas LLC and was conducted by Ryder Scott Petroleum Consultants , an independent qualified reserves evaluators and auditor . The 100% owned RK field, held by the Company's wholly-owned subsidiary Tysagaz LLC [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announced today its audited financial and operating results for the year ended December 31, 2020. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from Kub-Gas LLC , which Cub has a 35% equity ownership interest, Tysagaz LLC , Cub's 100% owned subsidiary and CNG LLC , which Cub has a 50% equity [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announces the sudden passing of its Executive Chairman, President, Chief Executive Officer and founder, Mikhail Afendikov, on February 1, 2021. On behalf of the entire Cub team, we extend our deepest sympathies and condolences to Mikhail's family and friends. Mikhail and his partners were instrumental in building and growing Kub-Gas LLC to one of the [...]
Cub Energy Inc. announced today its unaudited financial and operating results for the interim nine months ended September 30, 2020. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from Kub-Gas LLC , which Cub has a 35% equity ownership interest, Tysagaz LLC, Cub's 100% owned subsidiary and CNG LLC, which Cub has a 50% equity ownership interest. Mikhail [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announced today its unaudited financial and operating results for the interim six months ended June 30, 2020. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from Kub-Gas LLC , which Cub has a 35% equity ownership interest, Tysagaz LLC , Cub's 100% owned subsidiary and CNG LLC , which Cub has a [...]
Cub Energy Inc. announces the following results from the Annual and Special Meeting of Shareholders held at Cub's Houston, Texas office on June 17, 2020: Davidson & Company LLP -- was appointed as the Company's auditors for 2020 Election of Cub's Board of Directors as follows: Mikhail Afendikov, also appointed Chairman of the Board Frank Mermoud Patrick McGrath John Booth At the ASM, shareholders also passed two proposed [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announced today its unaudited financial and operating results for the interim three months ended March 31, 2020. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from Kub-Gas LLC , which Cub has a 35% equity ownership interest, Tysagaz LLC , Cub's 100% owned subsidiary and CNG LLC , which Cub has [...]
Cub Energy Inc. , a Ukraine-focused energy company, announces the appointment of Patrick McGrath to the Board effective immediately. Dr. Timothy Marchant has resigned from the Board and the Company wishes to thank Dr. Marchant for his significant contributions over the past seven years. Mr. McGrath is a Chartered Professional Accountant and has been the Chief Financial Officer of the Company since 2013. Mr. McGrath has [...]
Cub Energy Inc. , a Ukraine-focused energy company, announces that its 100% owned subsidiary, Tysagaz LLC , has signed a contract for the purchase of two Jenbacher gas power generation engines that should convert the natural gas produced from the RK field into power that can be sold in western Ukraine at local market rates. Each power generation unit will have the capacity to produce as much as 1.5 megawatts of power each [...]
Cub Energy Inc. announced today its audited financial and operating results for the year ended December 31, 2019. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from Kub-Gas LLC, which Cub has a 35% equity ownership interest, Tysagaz LLC, Cub's 100% owned subsidiary and CNG LLC, which Cub has a 50% equity ownership interest. Mikhail Afendikov, Chairman and [...]
Cub Energy Inc. announces the results of its independent reserves evaluations as of December 31, 2019 on its oil and gas properties in Ukraine. The evaluation of KUB-Gas LLC properties was conducted by Ryder Scott Petroleum Consultants, an independent qualified reserves evaluators and auditor. The Tysagaz LLC property was subject to a Reserve Report in prior years but given the RK field hasn't had material production [...]
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