CUB Energy Inc. provides update information on its Eastern Ukraine activities in the Makeevskoye, North Makeevskoye and Olgovskoye License areas, each of which are operated by KUB-Gas LLC (KUB-Gas), a subsidiary in which CUB has a 30% effective ownership interest.

HIGHLIGHTS

• M-21 well tested natural gas at a rate of 3 MMcf/d; • NM-1 drilled to a depth of 2,500 metres and cased to TD after log and drilling information indicate 4 potential hydrocarbon-bearing zones; • North Makeevskoye 3D seismic survey acquires 225 square kilometres of new data - processing underway with interpretation to be completed by September; • O-14 well suspended and being evaluated as a potential candidate for fracture stimulation.

Tags: CUB Energy Inc.