Value Microcaps Junior Energy

[Bobwins]

Kub.v/Tpnef +.005 to C$.04 Cub Energy Q1 Results

Earned 916K or .004eps in Q1. That's a fwd eps of .016 or a fwd p/e of 3.

Excellent price for ngas in Ukraine. Over $6/mcf vs C$5/mcf last year.

production was 1107boepd so little changed from last qtr. 100% owned RK field is still unable to produce because they have too much nitrogen in the gas. A nitrogen rejection unit imported from the US is still not working. Once online, Cub will be able to resume producing about 150-175boepd from the field.

Cub currently gets all its production and revs from a 35% ownership in Kub-Gas. They are much bigger and are drilling two wells in 2017 on Cub land. They don't require ANY capital contribution from Cub to drill the wells. First well has been spud.

On the negative side, Cub tried a rework of an RK field well and it failed. There was a casing failure and they will have to drill a new well to get any gas from this well. They spent 1.5 million on the effort.

Getting RK back online and the two new wells should still make for a very positive 2017 for Cub Energy.

http://www.stockhouse.com/news/press-releases/2017/05/17/cub-energy-inc-announces-q1-2017-financial-and-operational-results