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Gold/Mining/Energy : KUB.V - Cub Energy Inc.

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From: JRod7711/10/2019 9:31:36 PM
   of 48
 
nafta.sk

NAFTA became the winner of the tender for Vatazhkivskou license
Bratislava, October 31, 2019 - NAFTA, through its subsidiary NAFTA RV LLC
in Ukraine, has participated in a tender for Vatazhkiv license. With its bid in the auction succeeded and obtained
a license Vantazhkivske near the city of Poltava.

NAFTA has participated in an online auction offering five licenses covering a total area of ??more than 700 km 2 . According to the official results of the
tender, the company was successful with its offer. Once all the conditions and other formal steps have been fulfilled
, NAFTA will acquire a license for the exploration and subsequent production of hydrocarbons under that license for 20 years. The main objective of the
company is to use its long-term experience, to comprehensively explore the potential of the license and to identify all extractable stocks.

NAFTA has been active in Ukraine since 2016, when it acquired fifty percent of its license for exploration and production of hydrocarbons
in the west of Ukraine with CUB Energy Inc. In this exploration region, NAFTA and its partner carried out a 3D seismic
survey and in September 2019 began the first exploration well under the Uzhhorod license.


NAFTA is an international company with extensive experience in the field of storage and construction of underground gas storage
facilities in Slovakia and also a Slovak leader in the exploration and extraction of hydrocarbons. The company is active in Central
European countries and is present in the Czech Republic, Germany, Austria and Ukraine. NAFTA
operates underground storage facilities with a total storage capacity of approximately 60 TWh in several countries, making it the 6th largest
gas storage operator in Europe, conducting exploration activities and participating
in renewable energy storage projects .
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