Carcetti Capital Corp V.CART.H

RE:RE:Cub Energy Inc. Divests Interest in Turkish Assets

[maramos98]

The shares were trading at ±25 cents when they announced the Anatolia purchase.
They issued 13.9 million shares for an implied value of 3.45 million.

The purchase of Anatolia included 2.5 million of cash, restricted cash & inventory to partially fund the go forward plan in Turkey.

They drilled one well in Turkey which came up dry.

Also they probably got some compensation for their 25% interest in the Bismil licenses.

All things consider it is not a big loss.  

I am certain that with the ±13 million that they were going to have to spend in Turkey in 2014 they can purchase other assets under better terms.