HOUSTON, TX / ACCESSWIRE / November 20, 2018 / Cub Energy Inc. ("Cub" or the
"Company") (TSX-V: KUB), a Ukraine-focused upstream oil and gas company, announces that KUB-Gas
LLC ("Kub-Gas"), Cub's 35%-owned subsidiary which owns and operates the eastern Ukraine licenses, has released
results of its recent recompletion of the Olgovskoye-3 ("O-3") well.
Kub-Gas utilized its own workover rig and crew to recomplete a productive gas sand interval designated as the Bashkirian-1b
("B-1b"). The well has stabilized at a rate of 1.4 million cubic feet per day ("MMcf/d") since October 2018.
Mikhail Afendikov, Chairman and CEO of Cub said: "The successful O-3 recompletion coupled with the recent success of the O-9
recompletion in the second quarter of 2018 has increased the total field production by almost 20%. Given the recent successes of
the recompletions, their relatively low cost and the high gas price environment in Ukraine at present, Kub-Gas' priority is to
focus on additional recompletion candidates of which at least ten wells have been identified."
About Cub Energy Inc.
Cub Energy Inc. (TSX-V: KUB) is an upstream oil and gas company, with a proven track record of exploration and production cost
efficiency in Ukraine. The Company's strategy is to implement western technology and capital, combined with local expertise and
ownership, to increase value in its undeveloped land base, creating and further building a portfolio of producing oil and gas
assets within a high pricing environment.
For further information please contact us or visit our website: www.cubenergyinc.com
Mikhail Afendikov
Chairman and Chief Executive Officer
(713) 677-0439
mikhail.afendikov@cubenergyinc.com
Patrick McGrath
Chief Financial Officer
(713) 577-1948
patrick.mcgrath@cubenergyinc.com
Cautionary Statements:
BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 bbl is based on an energy
equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the
wellhead.
Test results are not necessarily indicative of long-term performance or of ultimate recovery. The test data contained herein is
considered preliminary until full pressure transient analysis is complete.
The disclosure in this press release is prepared in accordance with NI 51-101 standards.
Reader Advisory
Except for statements of historical fact, this news release contains certain "forward-looking information" within the
meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions
"may" or "will" occur. Cub believes that the expectations reflected in the forward-looking information are reasonable; however
there can be no assurance those expectations will prove to be correct. We cannot guarantee future results, performance or
achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as
those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the
results to differ materially from those expressed in the forward-looking information include, but are not limited to: general
economic conditions in Ukraine, the Black Sea Region and globally; political unrest and security concerns in Ukraine; industry
conditions, including fluctuations in the prices of natural gas and foreign currency; governmental regulation of the natural gas
industry, including environmental regulation; unanticipated operating events or performance which can reduce production or cause
production to be shut in or delayed; failure to obtain industry partner and other fourth party consents and approvals, if and when
required; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable
terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for
natural gas; liabilities inherent in natural gas operations; competition for, among other things, capital, acquisitions of
reserves, undeveloped lands, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological,
technical, drilling, processing and transportation problems; changes in tax laws and incentive programs relating to the natural gas
industry; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are
cautioned that this list of risk factors should not be construed as exhaustive.
This cautionary statement expressly qualifies the forward-looking information contained in this news release. We undertake
no duty to update any of the forward-looking information to conform such information to actual results or to changes in our
expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance
on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Cub Energy Inc.
