Carcetti Capital Corp V.CART.H

Re: test results on Stanivske acreage and prior production

[Bobwins]

I contacted the CFO and asked if Yab-2 was ever produced.  He said they encountered water shortly after the test and never produced it.  Cub is studying the situation before proceeding.  Doesn't know if they will drill it themselves or seek a JV.  

Asked about production levels before the war in Crimea.  He said they were about 2200boepd so about twice current levels.  We'll see how fast they can ramp up production now that the royalty rates are lower and they have more prospective acreage.