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 [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announces that KUB-Gas LLC , Cub's 35%-owned subsidiary which owns and operates the eastern Ukraine licences, has drilled the Makeevskoye-30 well to a total depth of 1,985 metres. Logging was performed on several horizons and was evaluated as having non-commercial gas shows. The well will be abandoned and Kub-Gas is reviewing its options for its next [...]
Cub Energy Inc. Announces Spudding of the M-30 well in Eastern Ukraine Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announces that KUB-Gas LLC , Cub's 35%-owned subsidiary which owns and operates the eastern Ukraine licences, has commenced drilling of the Makeevskoye-30 well. The M-30 well is planned to a total depth of 1,985 metres to evaluate several prospective horizons. The M-30 well is funded [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announced today its unaudited interim financial and operating results for the three and nine months ended September 30, 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 [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announced today the results of the drilling of the first well in the Uzhgorod drilling program. The Uzhgorod-101 well showed that the prospective reservoir sands were water saturated with traces of natural gas that indicate there was gas migration, but no viable trapping mechanism in this particular prospect. CNG LLC , Cub's 50%-owned subsidiary which owns [...]
Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announced today that CNG LLC , Cub’s 50%-owned subsidiary which owns and operates the western Ukraine Uzhgorod licence, has commenced drilling of the Uzhgorod-101 well. This is the first well in a three-well drill program for which all costs will be borne 100% by our partner, NAFTA International B.V. . The average planned depth of the wells is in range from [...]
Cub Energy Announces Net Earnings of US $0.8 million for the First Half of 2019 Cub Energy Inc. , a Ukraine-focused upstream oil and gas company, announced today its unaudited interim financial and operating results for the three and six months ended June 30, 2019. All dollar amounts are express in United States dollars unless otherwise noted. This update includes results from Kub-Gas LLC , which Cub has a 35% equity [...]
Cub Energy Inc. announces the following results from the Annual General Meeting of Shareholders held at Cub's Houston, Texas office on May 14, 2019: Davidson & Company LLP -- was appointed as the Company's auditors for 2019 Election of Cub's Board of Directors as follows: Mikhail Afendikov, also appointed Chairman of the Board Frank Mermoud Tim Marchant John Booth At the AGM, shareholders also passed two proposed [...]
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