KEYFACT Energy
Cub Energy Inc., 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 licences, has commenced drilling of the Makeevskoye-30 (“M-30”) well. The M-30 well is planned to a total depth of 1,985 metres to evaluate several prospective horizons. The M-30 well is funded through existing Kub-Gas cashflow.
Mikhail Afendikov, Chairman and CEO of Cub said:
“We are pleased to announce the spudding of the M-30 well in eastern Ukraine. The M-30 well will be the first well drilled on the producing M field in over three years after recent successful recompletions on the M and O fields at Kub-Gas.”