KUB Cub Energy Inc

Cub Energy Inc. ("Cub" or the "Company") (TSX VENTURE:KUB) a Black Sea
region-focused upstream oil and gas company, announces that the S7 zone in the
Makeevskoye-17 ("M-17") well tested gas at a rate of over 0.9 million cubic feet
per day ("MMcf/d") through a seven millimetre choke. 


The M-17 well is operated by KUB-Gas LLC, a partially-owned subsidiary in which
Cub has a 30% effective ownership interest through its 30% shareholding of
KUBGAS Holdings Limited.


Makeevskoye-17 Well 

In March 2014, Cub announced that wireline logs indicated 9 metres of net gas
pay in the S6, 2.5 metres of net pay in the S5 carbonates, and resource
potential in the R30c and S7 sands. The Company has not produced the S7 sand
previously and thus Cub has no reserves for the zone. It was believed that the
M-17 well's 5.5 metres of net pay in the S7 would require stimulation to get a
commercial flow rate from the zone. 


Cub plans to perform a dual completion on the M-17 as a producer in the S6 and
S7 zones, with the S7 producing unstimulated. Currently, the Company's snubbing
unit, required for dual completions, is performing operations on its O-4 well.
The M-17 well will be suspended until the snubbing unit arrives on location.
Once the subbing unit is on location, the Company will set a bridge plug above
the S7, and will perforate and test the S6 zone, which is 45 metres above the S7
and the primary target of the M-17 well. The S7 discovery is still being
considered for stimulation and remains in the Company's fracture stimulation
campaign scheduled for October this year.


Gas samples taken during testing indicate that the gas has a carbon dioxide
("CO2") content of 8.8% and a heating value of 6,960 kilocalories per cubic
metre ("kcal/m3"). While this is below the sales gas pipeline specification of
7,600 kcal/m3 and 2% CO2, it can be blended with production from the Makeevskoye
and Olgovskoye fields and the resulting blend will meet or exceed all pipeline
requirements. The Company is confident that the gas composition will not pose
any material issues in development.


The M-17 well was drilled to a total depth of 3,475 metres to appraise the new
pool gas discovery made in the S6 sandstone by the Company's Makeevskoye-16
("M-16") well, which is currently producing at a rate of 3.9 MMcf/d (1.2 MMcf/d
net to Cub). The M-17 is located about one kilometre to the northwest of the
M-16 well and within the same structural closure. 


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 Ukraine, the Black Sea Region
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 realise 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

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