KUB Cub Energy Inc

Cub Energy Inc. ("Cub", or the "Company") (TSX VENTURE:KUB) announces that
KUB-Gas LLC ("KUB-Gas") has completed the construction and commissioning of its
new Makeevskoye gas processing facility. The new facility supplements existing
infrastructure, and increases KUB-Gas' overall processing capacity from 30
million cubic feet per day ("MMcf/d") to 68 MMcf/d. The Company anticipates that
gross daily production rates will increase by 5 MMcf/d or more from existing
wells previously constrained by facility limitations, with further increases
expected from the on-going drilling program. KUB-Gas is a partially-owned
subsidiary in which Cub has a 30% ownership interest through its 30%
shareholding of KUBGas Holdings Limited.


The existing facilities in Makeevskoye were at capacity and insufficient to
handle the increasing production resulting from KUB-Gas' recent exploration and
development success. By diverting some of the newer wells in Makeevskoye to the
new plant, the Company anticipates benefits at both the Makeevskoye and
Olgovskoye fields. As system back pressures are reduced, existing wells should
flow more freely. Gas began flowing through the new facility on March 6, 2014
and KUB-Gas intends to slowly increase the throughput rate in the new plant.
This will allow stabilisation in the entire system at each step change until all
the constrained production is on line.


Construction of the new Makeevskoye processing facility began in September 2013
and was completed in December 2013. Following completion of the new facility,
there was a testing and commissioning period after which final operating
approvals were received. The facilities were constructed and delivered on time
and on budget at a cost of USD 7.8 million (Cub net USD 2.3 million). 


About Cub Energy Inc.

Cub Energy Inc. (TSX VENTURE:KUB) is an upstream oil and gas company, with a
proven track record of exploration and production cost efficiency in the Black
Sea region. The Company's strategy is to implement western technology and
capital, combined with local expertise and ownership, to increase value in its
undeveloped land base, creating and further building a portfolio of producing
oil and gas assets within a high pricing environment.


For further information please contact us or visit our website www.cubenergyinc.com.

Reader Advisory

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. Cub believes that the expectations reflected in the forward-looking
information are reasonable; however there can be no assurance those expectations
will prove to be correct. We cannot guarantee future results, performance or
achievements. Consequently, there is no representation that the actual results
achieved will be the same, in whole or in part, as those set out in the
forward-looking information.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: general economic conditions in the Ukraine, Turkey and
globally; industry conditions, including fluctuations in the prices of natural
gas; governmental regulation of the natural gas industry, including
environmental regulation; unanticipated operating events or performance which
can reduce production or cause production to be shut in or delayed; failure to
obtain industry partner and other third party consents and approvals, if and
when required; competition for and/or inability to retain drilling rigs and
other services; the availability of capital on acceptable terms; the need to
obtain required approvals from regulatory authorities; stock market volatility;
volatility in market prices for natural gas; liabilities inherent in natural gas
operations; competition for, among other things, capital, acquisitions of
reserves, undeveloped lands, skilled personnel and supplies; incorrect
assessments of the value of acquisitions; geological, technical, drilling,
processing and transportation problems; changes in tax laws and incentive
programs relating to the natural gas industry; failure to realize the
anticipated benefits of acquisitions and dispositions; and the other factors.
Readers are cautioned that this list of risk factors should not be construed as
exhaustive.


This cautionary statement expressly qualifies the forward-looking information
contained in this news release. We undertake no duty to update any of the
forward-looking information to conform such information to actual results or to
changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cub Energy Inc.
Mikhail Afendikov
Chairman and Chief Executive Officer
(713) 677-0439
mikhail.afendikov@cubenergyinc.com


Cub Energy Inc.
Lionel C. McBee
Director of Investor Relations
(713) 577-1955
lionel.mcbee@cubenergyinc.com
www.cubenergyinc.com

Cub Energy (TSXV:KUB)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Cub Energy (TSXV:KUB)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024