Carcetti Cap. Corp. (TPNEF)

[growacet]

Looks like the pause that refreshes is coming to an end....

Time to take it to the next step on the ladder? I think 10 cents is not far off....then look out, imo this won't stay under the radar much longer, and then its off to the races I think.

[JonnyRBuck12]

I was referred to some interesting notes regarding KUB and I missed this because it was in the financials as a note and not the MD&A. Keep in mind that Cub Energy Inc holds 35% of KUB Holdings and increasing that to 40%(5% increase) would be a significant revenue boost given current production AND all the wells being worked on now.

Per Note 1, the Company has the ability to further increase its ownership interest in KUB Holdings from 35%
to 40% on meeting certain benchmarks and optional payments. The Company can earn an additional 2.5%
ownership interest when the majority owner of KUB Holdings has received a cumulative $25,000 in dividends
from KUB Holdings of which they have received $16,873 as at March 31, 2019. The Company also has an
option to purchase, within one year of the above-mentioned 2.5% transfer from the majority owner, a further
2.5% ownership interest in KUB Holdings at a price equal to 2.5% of the net present value of 2P reserves of
KUB-Gas at a 10% discount at the time of exercise.

Another note to follow given the excess of cash in the bank for KUB.V:

During the year ended December 31, 2018 and the three months ended March 31, 2019, the Company
purchased Guaranteed Investment Certificates with a Canadian financial institution with annual interest rates
between 2.26% and 2.5% that are redeemable at any time

[JonnyRBuck12]

I agree 100%, nothing is done until we see it happen. But a step in the right direction can change the perspective of the country over time. KUB will keep adding cash and I think the Western assets are pretty safe. They can produce without an interruption from Eastern rebels or Russians. But that's also why everyone is waiting for the NRU and the JV wells to get producing.

[growacet]

If it happens a huge risk premium is mitigated....

I won't say its completely removed as peace deals can be tenuous at the best of times....but imo this is one the reasons KUB at under a dime is trading at such a discount.

[JonnyRBuck12]

Regarding KUB, the new Ukrainian president today said his top priority is peace with the rebels in Eastern Ukraine. This means if it happens, the area will be secured and KUB can drill without any worry or issue. This also includes investors looking at the company in a different light and bringing back value, especially since Cub Energy trades at a major discount compared to it's earnings and growth potential through drilling.

https://www.washingtonpost.com/world/europe/the-latest-new-ukrainian-president-disbands-parliament/2019/05/20/9ba3a36c-7ad7-11e9-b1f3-b233fe5811ef_story.html?utm_term=.2b7dfa84edf2

[JonnyRBuck12]

Looks like we hit 8. Hopefully we close at that or higher. Then with the O7 well results(if like O3/O9) the stock price has a chance of staying in the low teens before the JV gets drilling this summer.

[growacet]

Whether it happens or not I don't care...

Its all about MCap for me, if my shares go to 20 cents or $2.00 after a 1:10 consolidation....no differnce. Cheers, all it needs is a talking head on something like BNN or another media type outlet and look out above imo.

[JonnyRBuck12]

In all honesty a rollback isn't bad when the stock is self sufficient and profitable. But I confirmed twice with the CFO and so did a couple people I know that the rollback won't happen unless there's a reason for it. But the CEO wants it available for whatever reason.

[growacet]

We're moving again....ask up to 7.5 cents

I'm on board with the thinking of 20+ cents....and thinking that a 1:10 reverse split would not be a bad idea....get the PPS up to $2 to $3 on 30 million shares out and maybe we could see the MCap here get up to $100+ million CAD.

[JonnyRBuck12]

May 2019 - Update Company Presentation & Fact Sheet

Fact Sheet: http://www.cubenergyinc.com/_resources/factsheet/factsheet.pdf?v=2

Company Presentation: http://www.cubenergyinc.com/_resources/corporate-presentation.pdf?v=2

[JonnyRBuck12]

HOUSTON, TX / ACCESSWIRE / May 15, 2019 / Cub Energy Inc. ("Cub" or the "Company") (TSX-V: KUB), a Ukraine-focused upstream oil and gas company, announced today its unaudited interim financial and operating results for the three months ended March 31, 2019. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from KUB-Gas LLC ("KUB-Gas"), which Cub has a 35% equity ownership interest, Tysagaz LLC ("Tysagaz"), Cub's 100% owned subsidiary and CNG LLC ("CNG"), which Cub has a 50% equity ownership interest.

Mikhail Afendikov, Chairman and CEO of Cub said: "We wish to report net income $1.0 million during the three months ended March 31, 2019 and recorded $1.7 million in dividends from its eastern Ukraine investment. Kub-Gas successfully maintained deliverability of over 14 million cubic feet per day during the first quarter of 2019. In western Ukraine, preparatory works are underway for the first three wells on the jointly owned Uzhgorod license, expected to be drilled this year. All three wells are to be financed 100% by our partner. "

Financial Highlights

The Company reported net income of $1.0 million or $0.00 per share during the three months March 31, 2019 as compared to net income of $0.8 million or $0.00 per share during the same period in 2018.

Netbacks of $24.49/boe or $4.08/Mcfe were achieved for the three months March 31, 2019 as compared to netback of $25.93/Boe or $4.32/Mcfe for the comparative 2018 period.

The Company recorded $1.7 million in dividends during the three months March 31, 2019 compared with $1.0 million in dividends in the first quarter of 2018.

Operational Highlights

Kub-Gas recompleted the Olgovskoye-7 ("O-7") well during 2019 and it is currently being tested.

Achieved average natural gas price of $7.11/Mcf and condensate price of $42.57/bbl during the three months March 31, 2019 as compared to $7.16/Mcf and $60.60/bbl for the first quarter of 2018.

Production averaged 895 boe/d (97% weighted to natural gas and the remaining to condensate) for the three months March 31, 2019 as compared to 837 boe/d for the 2018 first quarter.

The Company and its partner plan to drill a three-well exploration program at Uzhgorod in mid 2019, dependent on timing of permitting and weather conditions. To date, the long-lead items for drilling have been delivered and road construction to the drill pads has commenced. The costs for the first three wells are financed 100% by our partner.

In eastern Ukraine, Kub-Gas is focused on additional recompletion operations given the success of the O-3 and O-9 recompletions in 2018. The O-7 recompletion was performed in 2019 and is awaiting testing. Three other recompletion opportunities are in the permitting phase. Kub-Gas may drill one additional well in late 2019 on the Makeevskoye Licence and kickoff a 3D seismic program on the WO licence to delineate known structures found from 2D seismic.

In western Ukraine, the Company and its partner plan to start a three-well exploration program in the Uzhgorod license in mid 2019 on structures defined by 3D seismic. The three-well program is to be financed 100% by our partner.

Supporting Documents

Cub's complete quarterly reporting package, including the unaudited interim financial statements and associated Management's Discussion and Analysis, have been filed on SEDAR (www.sedar.com) and has been posted on the Company's website at www.cubenergyinc.com.

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
[phone]
[e-mail]

Patrick McGrath
Chief Financial Officer
[phone]
[e-mail]

[JonnyRBuck12]

Cub Energy Inc. Q1 2019 Results. Financials + MD&A – All Information Found On Sedar

Stock Symbols: KUB – Canada & TPNEF – USA

Price: $0.06
Common Shares: 314,215,355
Insider/Institutional Holdings: 172,466,105 or 55% of common shares
Options: 15.3 million
2019 Company Pres: http://www.cubenergyinc.com/_resources/corporate-presentation.pdf?v=1
2019 Fact Sheet: http://www.cubenergyinc.com/_resources/factsheet/factsheet.pdf?v=1

Financials – All Numbers Are Expressed In US Dollars. Ending March 31st 2019

ASSETS
Cash: $6,958,000
Dividend Receivable: $1,684,000
Prepaid Expenses: $702,000
Trade & Other Receivables: $644,000
Equity Investments: $8,049,000
Property & Equipment: $3,749,000
Non-Current Receivables: 587,000
Total Assets: $22,373,000

LIABILITIES
Trade & Other Payables: $4,382,000
Loan From KUB-Gas(100% Owned Subsidiary): $ 5,229,000
Shareholder Loan(current portion): $250,000
Shareholder Loans (total): $2,000,000
Provisions: $484,000
Total Liabilities: $12,345,000

Asset/Debt Ratio: 1.81

2017-2019 Performance

2017 – All USD
Gas Sales: $24,000
Gas Trading: $13,099,000
Royalty Expense: ($7,000)
Income From Equity Investment: $6,767,000
Operating Expenses (Total): $34,218,000 - $16 million one time impairment included
Loss: $14,869,000 – Should have been a profit with one time expense removed

2018 – All USD
Gas Sales: $142,000
Gas Trading: $20,428,000
Royalty Expense: ($38,000)
Income From Equity Investment: $6,121,000
Operating Expenses (Total): $23,573,000
Income Tax Expense: $2,000
Foreign Currency Gain: $52,000
Income: $ 3,130,000

2019 Q1 – All USD
Gas Sales: $49,000
Gas Trading: $4,479,000
Royalty Expense: ($14,000)
Income From Equity Investment: $1,522,000
Operating Expenses (Total): $5,074,000
Net Income: $962,000
Foreign Currency Gain: $437,000
Income: $1,399,000

2019 Earnings: $1,399,000 X 1.30(CDN Exchange) / 314,215,355 = $0.00578 or $0.006 cents earnings
*Must convert USD to CDN to get real stock value of KUB.V(Canadian listed)

Management Discussion Highlights

Highlights
The Company reported income from equity investment of $1,522,000 during the three months ended March 31, 2019 as compared to income of $1,706,000 in the comparative 2018 quarter.
The Company reported net income of $962,000 or $0.00 per share during the three months March 31, 2019 as compared to net income of $779,000 or $0.00 per share during the same period in 2018.
The Company recorded $1,684,000 in dividends during the three months March 31, 2019 compared with $1,054,000 in dividends in the first quarter of 2018.
Production averaged 895 boe/d (97% weighted to natural gas and the remaining to condensate) for the three months March 31, 2019 as compared to 837 boe/d for the 2018 first quarter.
Netbacks of $24.49/boe or $4.08/Mcfe were achieved for the three months March 31, 2019 as compared to netback of $25.93/Boe or $4.32/Mcfe for the comparative 2018 period.
Achieved average natural gas price of $7.11/Mcf and condensate price of $42.57/bbl during the three months March 31, 2019 as compared to $7.16/Mcf and $60.60/bbl for the first quarter of 2018.
Kub-Gas recompleted the Olgovskoye-7 (“O-7”) well during 2019 and it is currently being tested.

The Company and its partner plan to drill a three-well exploration program at Uzhgorod in mid 2019, dependent on timing of permitting and weather conditions. To date, the long-lead items for drilling have been delivered and road construction to the drill pads has commenced. The cost of for the first three wells are financed 100% by our partner.
Eastern Ukraine KUB-Gas Assets (35%)

Kub-Gas recompleted the O-7 well in 2019 and is awaiting testing. There are approximately ten other wells with “behind pipe pays” that may be attractive recompletion opportunities in the Olgovskoye License. As the currently producing intervals deplete, the production team can recomplete these additional zones in the existing wells. Opportunities such as these generate above average returns for shareholders, particularly given the current gas price in Ukraine. Kub-Gas is also contemplating drilling a new well on the Makeevskoye Licence later in 2019. The Company expects to commence a 3D seismic program later this year should improve the probability of success of future exploration wells.

Western Ukraine Tysagaz Assets (100% Interest)

The RK field was temporarily suspended on April 1, 2016 because the nitrogen concentration exceeded the allowable limit stipulated by the gas pipeline operator. The Company is currently selling a modest amount of rich gas from a deep well to evaluate the Mesozoic formation on the RK field. Subsequent to the three months ended March 31, 2019, due to continued delays in the completion of the NRU, the Company and the NRU manufacturer entered into a mutual release agreement, including the release of the arbitration claim, in exchange for the Company taking physical possession of the NRU “as is”. The NRU has been relocated to another manufacturer in the Houston, Texas area and will undergo an evaluation and testing during the summer of 2019 to determine what is required to complete the NRU.

Western Ukraine CNG Assets (50% Interest)

The Company and its partner plan to drill a three-well exploration program at Uzhgorod in mid 2019, dependent on timing of permitting and weather conditions. To date, the long-lead items for drilling have been delivered and road construction to the drill pads has commenced. The cost of for the first three wells are financed 100% by our partner.

Ukraine Gas Prices and Currency

The Ukrainian exchange, the Hryvnya (“UAH”) rate versus the USD was 27.25 UAH/USD at March 31, 2019, which was relatively flat as compared to the 27.76 UAH/USD at December 31, 2018. During the three months ended March 31, 2019, gas prices realized were $7.11/Mcf which was relatively flat compared to the comparative 2018 price of $7.16/Mcf. The future of natural gas prices in Ukraine is currently subject to a high degree of uncertainty and it is unknown what the future prices the Company will receive on its Ukraine production.

Commencing August 2016, the Company’s wholly owned subsidiary, Tysagaz, began taking possession of its 35% ownership of gas produced at KUB-Gas. Tysagaz purchased the gas from KUB-Gas at the same price that KUB-Gas sold its gas to an affiliate of the majority shareholder of KUB-Gas. The Company agreed to this arrangement so it could attempt to earn additional net income on the gas sales price sold to majority shareholder’s affiliate. There were impairment charges that impacted net losses in 2017. During the quarter ended December 31, 2017, the Company recorded impairment charges due to the carrying value of its petroleum and natural gas assets exceeding the net present value of expected future cash flows using a discount rate of 26%. The high discount rate relates to the local discount rate in Ukraine and related country risk at that time. During the fourth quarter of 2017, the Company took a $5,300,000 impairment charge relating to the RK field and an impairment on its equity investment in Kub Holdings of $10,700,000.

Revenue from Gas Sales, Net of Royalty

The Company began selling a modest amount of rich gas from the RK field in western Ukraine from a deep well (RK-1) in the Mesozoic formation resulting in revenue during the three months ended March 31, 2019 of $49,000 as compared to $nil in the comparative 2018 period.

Revenue from Gas Trading, Net of Cost of Sales for Gas Trading

Commencing August 2016, the Company’s wholly owned subsidiary, Tysagaz, began taking possession of some of its 35% ownership of gas produced at KUB-Gas. Tysagaz purchased the gas from KUB-Gas at the same price that KUB-Gas sold its gas to an affiliate of the majority shareholder of KUB-Gas. The Company agreed to this arrangement so it could attempt to earn additional net income from the gas sales price sold to the majority owner’s affiliate. During the three months ended March 31, 2019, the Company recorded $4,479,000 in gas trading revenue and $4,240,000 for the cost of the gas trading for a net profit of $239,000 as compared to $5,670,000 in gas sales and $5,516,000 for the cost of the sales for a net profit from gas trading of $154,000 during the comparative 2018 quarter.

Income from Equity Investments

The Company accounts for its 35% indirect ownership in KUB Holdings and 50% ownership of CNG Holdings as investments under the equity method. During the three months ended March 31, 2019, KUB-Gas generated gross revenues of approximately $9,724,000 (2018 - $9,791,000) and had net income of $4,349,000 (2018 – $4,872,000). This resulted in a net income to the Company from its equity investment for the quarterly period of $1,522,000 (2018 – $1,706,000). The net income at CNG Holdings was $30,000 (2018 – $8,000) during the three months ended March 31, 2019. Net income in both periods primarily related to finance income, net of finance expense, on intercompany loans and the effects of foreign exchange to funds the exploration activities in Ukraine. The Company only records income/losses in its consolidated financial statements from its equity investment in CNG Holdings to the extent of interest in the equity investment which amounted to nil as at March 31, 2019 and December 31, 2018.

Outlook

In eastern Ukraine, Kub-Gas is focused on additional recompletion operations given the success of the O-3 and O-9 recompletions in 2018. The O-7 recompletion was performed in 2019 and is awaiting testing. Three other recompletion opportunities are in the permitting phase. Kub-Gas may drill one additional well in late 2019 on the Makeevskoye Licence and kickoff a 3D seismic program on the WO licence to delineate known structures found from 2D seismic.

In western Ukraine, the Company and its partner plan to start a three well exploration program in the Uzhgorod license in mid 2019 on structures defined by 3D seismic. The three-well program is to be financed 100% by our partner

[JonnyRBuck12]

Looks like Haywood was on a selling spree this week. But this was likely an old account that some broker was blowing out, or could of been someone who just gave up and wanted money. I went back to 2014 and saw Haywood unloading at 2-3 cents back then. My guess is they did a private placement way back at a higher price and just got rid of it for their clients and one person held one until now.

Good news is that the market depth looks pretty clean now. There used to be 500k for sale at 8 cents, it's now gone:

1 / 5,000 0.055 --- 0.055 92,000 / 3
2 / 86,000 0.05 --- 0.06 202,000 / 3
7 / 298,000 0.045 --- 0.065 57,000 / 2
10 / 660,000 0.04 --- 0.07 216,000 / 6
4 / 122,000 0.035 --- 0.08 125,000 / 2
2 / 30,000 0.03 --- 0.085 50,000 / 1
2 / 40,000 0.025 --- 0.09 80,000 / 3
1 / 200,000 0.02 --- 0.095 50,000 / 1
3 / 180,000 0.015 --- 0.10 5,000 / 1
1 / 25,000 0.01 --- 0.15 1,000 / 1

[JonnyRBuck12]

Ukraine Faces a Bleak Winter as Russia Prepares to Cut Off Gas
The head of Ukraine’s state gas company Naftogaz expects deliveries to stop on January 1, 2020.

https://www.themoscowtimes.com/2019/05/06/ukraine-faces-a-bleak-winter-as-russia-prepares-to-cut-off-gas-a65496

If Russia does cut off gas to Ukraine, local producer pricing could easily double given supply/demand metrics. KUB could double their current cash flow and more depending on how many new wells are drilled.

[JonnyRBuck12]

One well was put into production in Q4 that is averaging 220boed. 10 More wells possible just from just that one location. Then add in their other projects like the JV, NRU, etc.

Cub Energy recompletes Olgovskoye-3 well in Ukraine

2018-11-20 07:52 MT - News Release

Mr. Mikhail Afendikov reports

CUB ENERGY INC. ANNOUNCES THE SUCCESSFUL RECOMPLETION OF THE O-3 WELL IN EASTERN UKRAINE

Cub Energy Inc.'s KUB-Gas LLC, owner and operator of the eastern Ukraine licences, has released results of its recent recompletion of the Olgovskoye-3 well.

Kub-Gas utilized its own workover rig and crew to recomplete a productive gas sand interval designated as the Bashkirian-1b. The well has stabilized at a rate of 1.4 million cubic feet per day since October, 2018.

Mikhail Afendikov, chairman and chief executive officer of Cub Energy, commented: "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 per cent. Given the recent successes of the recompletions, their relatively low cost and the high gas price environment in Ukraine at present, Kub-Gas's priority is to focus on additional recompletion candidates, of which at least 10 wells have been identified."

About Cub Energy Inc.

Cub Energy is an upstream oil and gas company, with a proven 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.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.

[JonnyRBuck12]

Cub Energy Inc. Private Placements From 2009 to 2013, all done at much higher prices compared to where the stock trades now:

Private Placement Dates & Amounts (Does Not Include Shares From Finder Fee's Or Options/Warrants Execised)
May 12th 2010 - 4,186,664 shares raised at $0.15 for $628,000
July 21 2010 - KUB.V Acquired Galizien Energy Corp For 4,400,000 shares
September 28 2010 - 20,035,000 shares raised at $0.25 for $5 million
October 26th 2010 - 20,000,000 shares raised at $0.40 for $8 million
November 25th 2011 - 17,500,000 shares raised at $0.40 for $7 million
March 29 2012 - KUB.V Acquired Gastek for 123,278,089 shares
December 17 2012 - 31,250,000 shares raised at $0.40 for $12.5 million
April 26 2013 - KUB.V Acquired Anatolia Energy For 13,900,000 shares

[JonnyRBuck12]

KUB.V Performance From 2009 to 2018

KUB.V-2009-2018

[JonnyRBuck12]

I think that was a good call. 10X earnings is a pretty basic value and usually solid EPS companies trade more than that. But we also have Q1 next week which will increase the company value and make the P/E lower, so you should be able to get 9-10 cents easily and then with drilling a pop to 20 cents is possible. If the NRU gets back online as well, that's another 5-6 cents value and so forth. So many projects on the go that if they all work out(which is highly likely) we could be at 30-35 cents by year end.

[growacet]

I decided to ride it out for more...

Its all on me of course...but I pulled my sell order at 7.5 cents, going to sit back and wait and see, I think you're right and that the market can support a PPS of 10+ cents here...assuming we get there I'll take some money off the table at that point...I also see the potential for 20+ cents depending on the news/results.

[JonnyRBuck12]

We hit 7 briefly, then 200K came down to 6.5. If the stock goes up half a cent every 1-2 days and we can make it to 10 cents before Q1 2019 results, technically it could pop big from there, level 2 shows little for sale between 10-20

[growacet]

6.5 CDN cents, climbing the ladder...a new 52 week high

I posted over on SH....tossed another shot across the bow, and it did what I was hoping and expecting. Dark pools have muddy waters...and that is where the big fish swim. Nice to see tiny and seemingly insignificant Cub Energy in those waters.

[JonnyRBuck12]

From The March 2019 Company presentation, KUB has 6 projects on the go. If all work out as planned, the upside is tremendous here. See info below:

http://www.cubenergyinc.com/_resources/corporate-presentation.pdf

Uzhgorod Licence –Western Ukraine
U Field: Asset Overview
W.I. 50% owned by Cub
Operator Joint
Contract 20 year special production permit (expires 2036)
Status No current production
Area 75,000 acres
Highlights
? The Company partnered with a Slovakian based company with
extensive experience in E&P
? The partnership included a sale of 50% ownership in Uzhgorod.
Pursuant to the agreement, the partner is to:
– Pay Cub €1.5 million (paid)
– Fund a 100 square kilometer 3D seismic survey (completed)
– Fund the drilling and tie-in of the first three wells (2019)
? The licence is on the border with Slovakia, Hungary and Romania.
Adjoining producing or past producing fields
Work Plan
? Plan is to drill up to three exploratory wells in mid 2019

O Field – Eastern Ukraine
O Field: Asset Overview
W.I. 35% owned by Cub
Operator KUB-Gas
Contract 20 year special production permit (expires 2032)
Status Producing
Area 22,000 acres gross
Highlights
? Recompleted the O-9 well in Q2 2018 and put into production at a
stable rate of 1.7 MMcf/d since June.
? Recompleted the O-3 well in Q4 2018 and put into production at a
stable rate of 1.4 MMcf/d since October.
? Multiple other recompletion opportunities exist.
? 100% success rate on five O wells prior to 2107
– All five wells tied in for commercial production
? Successful fracture stimulations performed in prior years
Work Plan
? 2019 work plan will include several recompletion candidates.

M Field – Eastern Ukraine
M Field: Asset Overview
W.I. 35% owned by Cub
Operator KUB-Gas
Contract 20 year special production permit (expires 2032)
Status Producing
Area 18,000 acres gross
Highlights
? Upgraded processing facility brought on line and boosts throughput
capacity
Work Plan
? 2019 work plan will include several recompletion candidates

West O Field – Eastern Ukraine
WO Field: Asset Overview
W.I. 35% owned by Cub
Operator KUB-Gas
Contract 20 year special production permit (expires 2035)
Status No current production
Area 111,000 acres gross
Highlights
? The licence immediately offsets the O and NM licences
? It surrounds (but does not include) the existing Druzhelyubovskoe gas/condensate field,
which has produced gas from the same zones that produce in the O and M fields.
? Completed 26 km of 2D seismic in 2016; Completed150 km 2D seismic survey in 2017.
Interpreting results to identify drill targets.
Work Plan
? 2019 work plan to include 3D seismic survey to evaluate new drill targets

RK Field –Western Ukraine
RK Field: Asset Overview
W.I. 100% owned by Cub
Operator Cub
Contract 20 year special production permit (expires 2030)
Status Producing nominal amounts
Area 2,000 acres
Highlights
? Ordered a new Nitrogen Rejection Unit
? Goal of resuming material production in 2019
? During 2018, the Company began selling a nominal amount of rich
gas from a deep well to evaluate the Mesozoic formation
? Adjacent to producing fields in Hungary, Romania and Slovakia

Stanivske Licence –Western Ukraine
S Field: Asset Overview
W.I. 100% owned by Cub
Operator Cub
Contract 20 year special production permit (expires 2036)
Status No current production
Area 31,000 acres
Highlights
? Recently granted 20 year production licence
? A 45 square kilometer 3D seismic survey was acquired by the
company in 2013
? Gas was discovered on the field in 1990 by a prior operator
Work Plan
? The company is currently evaluating its 2019 work program

[growacet]

True enough, its a risk either way you go....

My market mantra is: Nobody ever went broke taking profits...I could do it right now, but I'm holding out, and I'll have plenty left after putting a few K in my jeans if it happens.

[JonnyRBuck12]

Nothing wrong with taking a profit. But I do feel that once the 7-8 resistance is gone, running to 15 cents will be quick based on the multi year chart. big resistance was 5 and we broke that, next is 7-8 from a couple years ago and then 15 from a couple years before that.

[growacet]

Bingo Presto, another new 52 week high....

Want to see volume hit 10 million+ in a day here eventually...been waiting a long time.

[growacet]

Some of those .075 shares on the ask are mine....

Not averse to putting some $$$ in my pocket...

[JonnyRBuck12]

6 / 395,000 0.05 --- 0.06 409,000 / 10
6 / 266,000 0.045 --- 0.065 460,000 / 6
10 / 530,000 0.04 --- 0.07 156,000 / 3
7 / 352,000 0.035 --- 0.075 157,000 / 3
6 / 331,000 0.03 --- 0.08 530,000 / 3
4 / 154,000 0.025 --- 0.095 50,000 / 1
2 / 210,000 0.02 --- 0.25 43,000 / 1
3 / 180,000 0.015 --- 0.285 30,000 / 1
1 / 25,000 0.01 --- 0.29 1,837,000 / 2
1 / 60,000 0.005 --- 0.295 156,000 / 1

[JonnyRBuck12]

ill post level 2 in a sec here.

[growacet]

Seeing the lowest ask at .06 now....

.06 cents would be a new 52 week high....if it happens it'll happens when it happens, that's all that's happening.

[JonnyRBuck12]

With Q1 coming and those 3 wells being drilled, no reason why we can't surpass 10 cents. But people want to hear that those wells are being drilled. It's a 3 year JV partner project in the making.

[growacet]

Once again you're preaching to the choir

Fundamentals aside I think KUB.V is being accumulated by some smart and deep pocketed players....and that is why I believe its hovering around this 5 cent level right now with fairly decent volume.

If buyers just kept gobbling up shares and started pushing the PPS to 6 then 7 and 8, then KUB would start attracting interest and the number of shares available at 5/6 cents would dry up very fast imo.

Instead I suspect that the big money types buying....I think after their buying pushes the PPS up to 5.5 or 6, then they go short to drop the PPS a bit and hopefully shake free as much as possible.

Am I right? I'll never know But if KUB eventually climbs to 15 or 20 cents (or more) I won't care.

[JonnyRBuck12]

Naftogaz raises gas prices for industry by 5.2-11.5% in May

https://www.ukrinform.net/rubric-economy/2688102-naftogaz-raises-gas-prices-for-industry-by-52115-in-may.html

NJSC Naftogaz of Ukraine will raise the price of natural gas for industrial consumers and other economic entities by 5.2-11.5% from May 1, 2019, the company’s press service has reported.
“The proposed prices for natural gas from the company's resource have been differentiated depending on the volume of purchases, terms of payment and the state of previous settlements with Naftogaz. Depending on these indicators, Naftogaz proposes natural gas at the price of UAH 6,299.00 – 6,948.00 per 1,000 cubic meters (without VAT),” reads the report.

Comparing with the prices in April 2019, the prices will be raised by 5.2-11.5% in May, the company stated.

In particular, the final price for industrial consumers and other economic entities that purchase up to 50,000 cubic meters of natural gas on a prepayment basis will be UAH 7,558.8 per 1,000 cubic meters. For industrial consumers and other economic entities that purchase over 50,000 cubic meters of natural gas or make a payment during a month, the final price will be set at UAH 8,337.6 per 1,000 cubic meters.

[JonnyRBuck12]

Good chance that this is the take off simply because we got 1) year of profits under the balance sheet (bleeding stopped) 2) our JV partner is ready to drill this year and those recent articles verify that 3) other projects are still on the go and we could see updates, such as the NRU

[growacet]

We're playing the waiting game....

Every time we've gotten a run I wonder "is this the one that leads to the PPS finally taking off" and so far I've always been disappointed. Bottom line is that nobody ever went broke from taking profits.

[JonnyRBuck12]

This analyst is serious about KUB, he went to the Ukraine and to the Houston office:

http://chenpicks.com/chenvisit.html

Ukraine 2016 - http://chenpicks.com/chenvisitukraine.html

Houston 2018 - http://chenpicks.com/chenvisitcubenergyhouston.html

[JonnyRBuck12]

April 30th 2019 - Interview with Analyst on Cub Energy Inc. (KUB - Canada & TPNEF - USA)

https://www.voiceamerica.com/episode/114771/how-can-we-thrive-against-zirp-and-nirp

20:30 - 22:30

- Profitable

- Paying down debt

- Organic production growth, easily double that

- Like Mart Resources he says (Went from $0.10 to $.150)

- 3 wells this summer from JV partner. "Low hanging fruit"

[JonnyRBuck12]

Below is the website for NAFTA Gas, the JV partner who will be drilling 3 major wells this summer and KUB owns 50% of the lease and isn't paying a penny to drill those wells. As you will see on the Nafta website, this is a serious company with plans to expand across Europe. They have been waiting since 2016 to drill these wells and now the time has come to get the project started. Keeping in mind they sepent some serious money doing seismic and understand the geology perfectly since the same reservoir on the Slovakia side is owned by them. Compare the Nafta map to page 9 of the Kub presentation and you'll see how close their facility is to our lease.

https://www.nafta.sk/en/development-projects

http://www.cubenergyinc.com/_resources/corporate-presentation.pdf

[JonnyRBuck12]

I think we have some paper to chew through since KUB has been sub 10 since the whole Russia spat in 2014. But once we break that resistance, it could run up fast. Plus results and drilling news will bring in new interested investors. Nice and easy, 45 degree chart is best. We don't want it to pop 3-4 cents in a day because it will pullback for sure.

[growacet]

The bid has been pretty thin on this climb...

I notice that when I check the bid/ask the number of lots on the bid size is typically quite small, often less than 10 lots bidding, while on the ask its typicalling much larger, two, three...even four hundred or more isn't unusual.

I suspect that there may very well be some iceberg orders on the bid side, with only a small number of lots as the visible portion, with hundreds more hidden out of sight.

If someone (or someones) is accumulating it makes sense.....putting up a large visible bid could conceivably attract attention and increase competition for what could very well be a limited number of shares that are being sold. Conversely the large number of lots on the ask, they could be a bluff.

Its all tea leaves, but its fun.

[JonnyRBuck12]

Ah, that happened to me with AXMIF actually. I rushed to put an order in and it lets you choose CAD and USD, of course I ignored the warning because I wanted to get filled and then that happened.

[Sinister667]

Thanks for the replies guys.. I just got off the phone with the bank, the associate did not know why it filled that way either... he just confirmed, that for some reason, if your paying in USD, it’s intertwined and will purchase through the Grey market for some reason... next time I will just pay with Cdn account. I’ll probably end up accumulating more in the upcoming weeks

[JonnyRBuck12]

I've had it happen to me before where I put in a CAD symbol and get the US symbol equivalent in stock. Not common, but happens.

[growacet]

That is a weird one.....

I'm in Canada as well, and I've bought and sold more than a few TSX-V stocks over the years, and I've never been filled with the pink symbol...ultimately a share is a share is a share no matter what exchange or platform it trades over, or in what currency, but still that is strange.

The other day, for proverbial sheets and giggles, I put in a market order to buy a piddly 2,500 shares when the ask was at 5 cents. A shot across the bow so to speak to see how the market would react. It did fill of course, but when I checked the trading on stockwatch it showed 2 partials on two of the secondary dark pool exchanges.

I like that....dark pools and muddy waters, that's where the big fish swim.

[JonnyRBuck12]

You can always call your institution and have them convert it over. If you are in Canada, best to stick with the Canadian listing for tax purposes and vis-versa

[Sinister667]

I’m back in for long term now. Just picked up some more today. But curious, does it matter which exchange you buy from? I’m in Canada, and placed the order for Kub, and they converted the whole order to the pink sheets us symbol? I never had that happen before?

[JonnyRBuck12]

Cub Energy has been dormant from a trading perspective for a while now and I think that's very strange considering that the company is not only very profitable now, but also have some major connections to partners, aka the JV doing the 3 wells this summer.

Russia is a risk, but they've only suffered after Crimea via the sanctions and I don't see Russians trying anymore attacks, so Ukraine should hold fine.

That being said, KUB from a value standpoint should be much higher now, but it will catch on as we get more quarterly updates and news releases/articles.

I will try to keep this board as up to date as possible.

[growacet]

Johny, I think its just you and me at this point....

I will say its nice to some posting on here for a change....how long between your first post and my last? So much lag.....nothing being done at this point to bring eyes onto KUB.V that I can see, hopefully that comes and after the PPS has seen a nice climb...10 to 15 cents would make me very happy, then let it run to get the sheep excited.

[JonnyRBuck12]

The Cub Energy proxy states one resolution of a rollback being considered if appropriate. I myself and several associates of mine have verified that this will not happen unless a major asset is acquired. If you look on SEDAR, several prior proxy forms show a rollback and this is just carrying forward.

From the 2019 proxy: to amend the Articles of the Corporation to consolidate the issued and outstanding common shares in a range of one common share for up to every 10 of the issued and outstanding common shares that the board of directors, in its sole discretion, determines to be appropriate;

[JonnyRBuck12]

Another article done on January 15th 2019 regarding once again Cub Energy's JV Partner. Both the December and January articles mention Cub Energy Inc, which verifies that this is the actual partner.

https://venergetike.sk/nafta-investovala-do-spolahlivej-a-bezpecnej-prevadzky/

January 15, 2019 10:35 Gas News from vEnergetike.sk vEnergetike.sk/NAFTA

NAFTA has invested in reliable and safe operation
The operator of underground gas storage facilities was also active in the west of Ukraine.

Last year, NAFTA's investments were mainly directed to reliable and safe operation. “In operating operations, we focus on increasing operational safety, which is extremely important for NAFTA. Investments are geared towards security, increased automation, and the use of a wealth of collected information to further optimize processes. We are constantly working on improving the safety of our facilities, protecting the health of our employees, suppliers and people living in the vicinity of our operations and protecting the environment, ”said NAFTA spokeswoman Martina Štecová.

Last year, the company continued its projects on foreign markets. "In this context, we have expressed an interest in taking over the underground storage facilities of Inzenham, Wolfersberg and Breitbrunn in Bavaria, Germany, and we have signed a sales agreement with DEA ??Deutsche Erdoel AG in early 2018," Štecová added.

The operator of underground gas storage facilities was also active in the west of Ukraine. “As part of our international activities, we have been developing exploration activities in Uzhgorod, where NAFTA is actively working with Cub Energy Inc. In 2017, 3D seismic measurements were made on 118 square kilometers. Last year, the entry and clearance of land for drilling areas and access roads was provided; legislative permits and preparation for the implementation of exploration wells scheduled for this year. In this area we see a similar geological trend as in Slovakia, which gives us the opportunity to fully exploit our long-term knowledge and experience in the exploration and production of hydrocarbons, ”added Štecová.

NAFTA also continued its exploration project around Trnava with a company from Vermillion Energy Inc. In 2017, a 3D seismic measurement was carried out on an area of ??approximately 250 square kilometers, which is the largest 3D seismic project implemented in Slovakia. “Last year, the 2017 3D seismic data were interpreted and the brochures were identified. We are currently preparing drilling projects, ”said Štecová.

In order to increase efficiency, NAFTA has concluded a cooperation agreement with OMV Austria Exploration & Production GmbH. “The subject of the contract was mutual support in the event of an emergency in the future. In removing the emergency situation, both companies are ready to help each other by earmarking their technology or human resources, ”said Štecová.

In addition to the aforementioned cooperation, NAFTA joined the hydrogen initiative last year to maximize the potential of hydrogen produced from renewable sources. “Hydrogen as an energy carrier has the potential to cover the unevenness of electricity generation from renewable sources, while its storage will bring flexibility just for renewable electricity sources. The potential of "renewable" hydrogen is not only in its ability to tackle energy storage, but renewable hydrogen is considered a sustainable climate energy carrier that can be used in various fields - transport, energy, industry and so on. It is for these reasons that renewable hydrogen is expected to become a key instrument for the global decarbonisation of the environment in the coming years, ”Štecová concluded.

[JonnyRBuck12]

December 18th 2018 interview article regarding Cub Energy's joint venture partner who will be drilling 3 wells in 2019 at no cost to KUB.V. This is a multi billion dollar company

December 18th 2018 - Nafta plans to invest almost $ 200 million in natural gas production in Ukraine

https://ukranews.com/news/603158-kompanyya-nafta-planyruet-ynvestyrovat-pochty-200-mln-dollarov-v-dobychu-pryrodnogo-gaza-v-ukrayne

Large multinational companies are planning to invest hundreds of millions of euros in the modernization and development of oil and gas fields in Ukraine. And the first for many years a serious foreign investor who enters the domestic market of hydrocarbons is the Slovak company Nafta. This was announced today at a press conference of the management of this company.
"The EPH industrial and energy holding has been operating in Ukraine for the first year. We have studied almost the entire territory of the country and concluded that in the next 5 years we will be able to effectively invest $ 200 million in Ukrainian gas fields. Directly organizing and carrying out gas exploration and production Our subsidiary Slovak company Nafta, which has been successfully operating in the western region of the country for 5 years, will be engaged in, "said Robert Bundil, project manager for EPH holding, to journalists.

According to R. Bundila, this is a guaranteed investment in the development of the Yuzovskoye field. The businessman recalled that today, in the first half of the day, the Cabinet of Ministers at its meeting approved the transfer of 90% of the rights and obligations of Nadra Yuzovskaya LLC in the Production Sharing Agreement (PSA) on Yuzovskaya Square (Kharkiv and Donetsk region) to Yuzgaz BV (Netherlands) with the investor-operator of the project represented by the Slovak company Nafta. According to the explanatory note to the draft government order, Nafta provided a guarantee of 100% collateral for Yuzgaz’s obligations, which would cover $ 200 million in search funding (drilling at least 15 wells).

In turn, Lubomir Kopchik (Nafta RV), director of the Nafta representative office in Ukraine, stressed that in his work on hydrocarbon production, the company will not only explore new sites, but also reconstruct and renew old wells, which number 47 facilities. At the same time, advanced world technologies will be used, with which the Ukrainian specialists will mainly work.

“We definitely count on attracting both local specialists and Ukrainian companies to work. This is about creating hundreds of new jobs. And at least 80% of local specialists will work in our facilities. As a result: filling local budgets through taxation” - noted L. Kopchik.

In turn, the Ambassador Extraordinary and Plenipotentiary of the Czech Republic to Ukraine, Radek Matula, noted that entering the Ukrainian investment market of such a serious representative of Central European business, like the ERN holding and its subsidiary Nafta, is an excellent example for other potential investors.

“For more than four years we have been supporting the Ukrainian government’s policy of increasing its own gas production. In the situation in which your country is today, the arrival of serious European capital will only contribute to the growth of Ukraine’s energy independence,” Radek Matula summed up.

As the Deputy Minister of Energy and Coal Industry Natalia Boyko noted on her Facebook page, an important step was taken in the direction of energy independence at the Government meeting today! A step towards new investments. Approved competitive conditions for 12 new projects on the conclusion of agreements on production sharing. Ukraine expects to attract more than 50 billion UAH to hydrocarbon production as a result of the conclusion of future agreements.

"Competitions will be held with maximum transparency. To increase transparency, a provision has been included that obliges applicants to disclose not only information about their participants, but also actual final beneficiaries ... Competitive conditions provide for a minimum investment, list and term of work at the site, main criteria for product distribution and the specifics of the terms of the agreement on the part of the state ", - said N. Boyko.

The official emphasized that in this way, in 2019, the state would offer investors at auctions and tenders over 40 oil and gas areas with a total area of ??over 20 thousand sq. Km.

Reference:

Oil and gas company Nafta is a leader in the field of hydrocarbon research and production in Slovakia with more than 100 years of experience. The company is engaged in the search and production of gas and oil, applies leading modern technologies in its work. During its existence, Nafta has drilled more than 3 thousand wells in the Vienna and East Slovak basins. The company has a storage capacity of 2.74 billion cubic meters. m of natural gas.

Since 2016, Nafta has been implementing a joint project with the American company Cub Energy Inc. in Ukraine. gas prospecting and production in the Transcarpathian region. In two years, Nafta carried out seismic surveys and this year began drilling three exploratory wells.

The management of the Slovak Nafta, of which 29% is owned by the state, is carried out by the infrastructure division of EPIF, which is 68% owned by the EPH Central European Energy Holding.