Carcetti Capital Corp V.CART.H

KUB trading slightly above cash, less than NAV

[Thedondom]

KUB has just under 3.5 cents a share in cash as per their last financials, added over $3 million USD over the last 7 quarters (even though they will likely break even for 2019, but profit was from 2018) and they got several ongoing projects with a recovering Eastern Ukraine. 

Reason why natural gas priced dropped in 2019 is because Ukraine was hoarding nat gas in the high chance that Russia would cut them off. This didn't happen and a new deal was struck, so prices are going to come back up now. 

But Cub Energy has the M30 eastern well, 2 JV west wells and also the completion of the NRU with the new company they're dealing with, yet we trade slighly above cash and well below NAV. This isn't North America, the commodity they sell is much more valuable and sought after. 

Investors will wake up soon, year end results are out next month and a successful M30 well with an overall update will change the dynamics here. Any debt/liabilities they show are primarily due to the CEO, Mikhail, who owns over 50% of the common shares that he got at a much higher price. The guy will make sure KUB shareholders get maximum value because he has the most to gain/lose.