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Cub Hopes RK Field Production Will Resume in Q2
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Cub Energy Inc. announced its unaudited interim financial and operating results for the first quarter of 2016.
All dollar amounts are expressed in United States Dollars.
Outlook The Company is evaluating the 2016 work programs in light of the recently reduced royalty rate of 29% effective January 1, 2016. The Company expects KUB-Gas to drill two wells and perform several fracture stimulations in 2016 which the Company expects will be self-funded by KUB-Gas. The Company may drill one new well on its 100% owned western Ukraine licences pending sufficient operating cashflow. The Company continues to explore solutions to the gas blending contract at the RK Field at Tysagaz. The Company hopes to Cub Hopes RK Field Production Will Resume in Q2 Operational Highlights Royalty rates for natural…- ✓ Full news archive — U.S., Canada & international coverage
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