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   Gold/Mining/EnergyKUB.V - Cub Energy Inc.


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From: JRod778/28/2019 11:45:14 AM
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A lot of investors are still ignorant to the fact that Russia will be cutting off Ukraine's natural gas in 4 months. Don't have to be an economist to understand supply/demand metrics here and that prices will sky rocket in that country, making producers like Cub Energy extremely important.

rferl.org

Kyiv Pursues Additional Reverse Gas Flows In Preparation For Potential Russian Gas-Transit Cutoff

August 20, 2019 05:36 GMT

Ukraine's state-run gas-transport company, Ukrtransgaz, is preparing to open another reverse-flow point for the import of an additional 1.5 billion cubic meters (bcm) of natural gas by January 1 in anticipation of Russia halting gas transit through the country when their contract expires at the end of the year.

In an August 19 news release, pipeline operator Ukrtransgaz said the fuel will come from Romania via Ukraine's shared border with Moldova, where gas-metering stations will be upgraded on both sides to accommodate the expected volume of gas.

"For Ukraine and Moldova, this project is of strategic importance, because by diversifying the gas-supply routes, both states will increase their dependability and the uninterrupted supply of gas to their customers," Ukrtransgaz said.

The additional volume is the equivalent of 15 percent of last year's total imports.

However, the 50-kilometer stretch of the modernized gas line will cross Transdniester, Moldova's pro-Russian breakaway region. Ukrtransgaz didn't focus on the issue of Russia possibly interfering with this gas flow.

Since Ukraine's gas-transportation system is designed for output, pipelines need to be upgraded to open so-called reverse gas flows.

Ukraine already receives gas this way from Slovakia, Poland, and Hungary. Kyiv stopped importing gas from Russia in November 2015 after Moscow invaded Ukrainian territory and annexed its Crimean Peninsula the previous year.

Ukrtransgaz said it was currently in talks with its Romanian counterpart, SNTGN Tansgaz, as well as other countries to receive the gas from the Trans-Balkan pipeline.

In 2018, Ukraine imported 10.6 billion cubic meters of gas, or one-third of what the country consumed.

Fears that Russia's Gazprom will completely stop gas transit through Ukraine next year, when Moscow's Nord Stream 2 pipeline network goes online, are forcing Ukraine to store higher volumes of gas in underground storage facilities ahead of winter.

Ukrtransgaz operates 12 gas-storage facilities that have a total capacity of 31 bcm.

The company has completed upgrading five gas compressor stations that will allow them to pump gas from reservoirs in western Ukraine to eastern and southern Ukraine.

The pipeline operator is owned by state-run Naftogaz Group, a vertically-integrated oil and gas company.

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From: JRod779/16/2019 9:50:36 AM
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Cub Energy's CNG begins drilling Uzhgorod-101 well

2019-09-16 06:29 MT - News Release

Mr. Patrick McGrath reports

CUB ENERGY ANNOUNCES SPUDDING OF FIRST OF THREE WELLS IN WESTERN UKRAINE

CNG LLC, Cub Energy Inc.'s 50-per-cent-owned subsidiary which owns and operates the western Ukraine Uzhgorod licence, has commenced drilling of the Uzhgorod-101 (U-101) well. This is the first well in a three-well drill program for which all costs will be borne 100% by our partner, NAFTA International B.V. ("NAFTA"). The average planned depth of the wells is in range from 1,500 to 1,900 metres to evaluate several prospective horizons identified by 3D seismic.

Mikhail Afendikov, Chairman and CEO of Cub said: "The spudding of the U-101 well is a major milestone for Cub. This is a cumulative effort between Cub and NAFTA as we performed 3D seismic, generated an inventory of prospects and are now executing with the drilling of our first exploratory well. These wells all qualify for the reduced 12% royalty."

The Uzhgorod licence encompasses approximately 75,000 gross acres. The licence adjoins Cub's 100%-owned producing RK field and is near the producing Ptruksa field located on the Slovakian side of the border.

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.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.

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From: JRod779/18/2019 11:16:14 AM
   of 48
 
Some interesting information I found today. Recently, large cap Canadian company Vermillion Energy purchased almost 600,000 acres of natural gas leases in Eastern Ukraine, right in the same region as Cub Energy: newswire.ca

Then I also saw on Vermillion Energy's website that they are partnered in Slovakia with NAFTA, the same partner KUB has right now, drilling the JV wells in the West.

In Slovakia, we have partnered with NAFTA, the country's dominant E&P in a farm-in arrangement which grants us a 50% working interest to jointly explore 490,000 acres across two licenses. In Ukraine, we have been awarded two exploration licenses in a 50/50 partnership with Ukrgazvydobuvannya ("UGV“), a Ukrainian state owned gas producer: vermilionenergy.com

The point here is that Vermillion is likely to buy Cub Energy down the road for their production and large lease holdings.

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From: JRod779/19/2019 7:55:57 PM
   of 48
 
https://ekonomika.sme.sk/c/22215680/nafta-zacala-na-ukrajine-hladat-nove-loziska-plynu.html

Diesel began to look for new gas deposits in Ukraine

The depth of all three wells will be in the range of 1500 - 1900 meters.

18 Sep 2019 at 14:15 TASR

BRATISLAVA. Nafta has started exploration license and is looking for gas fields in western Ukraine.

Together with American company Cub Energy Inc. announced the launch of the first of three planned exploration wells under the Uzhgorod license.

Reducing dependence on imports

The depth of all three boreholes will be in the range of 1500 - 1900 meters, the company said on its website.

The Slovak company thus helps Ukraine to reduce its dependence on Russian gas imports.

Under the license Uzhhorod Nafta with Cub Energy conducted a 3D seismic survey over an area of ??118 square kilometers. As a result, several prospective sites were identified.

"We consider working with Cub Energy Inc. to be a successful start to our foreign activities. We particularly appreciate that this partnership has given the opportunity to showcase our extensive experience in areas such as geology, bearing engineering and drilling," said Nafta CEO Martin Bartosovic.

Mining license


Cub Energy Inc. acquired a 20-year mining license in Uzhgorod covering an area of ??approximately 300 square kilometers in March 2016.

Diesel, through its subsidiary Nafta International BV, entered the Ukrainian market after acquiring 50% of Uzhgorod license three months later.

Uzhgorod license is a geological continuation of already explored areas in eastern Slovakia and follows the trend of discovered deposits in Slovakia.

Nafta is the sixth largest operator of gas storage facilities in Europe and also a Slovak leader in the exploration and production of hydrocarbons.

The company is active in Central European countries and is present in the Czech Republic, Germany and Austria in addition to Slovakia and Ukraine .

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From: JRod7710/2/2019 9:19:11 AM
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New Video From Cub Energy Showing Western JV Well Sites & Drilling

cubenergyinc.com

youtube.com

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From: JRod7710/21/2019 6:41:00 PM
   of 48
 
Cub finds trace natural gas in first Uzhgorod well

2019-10-21 14:28 MT - News Release

Mr. Mikhail Afendikov reports

CUB ENERGY ANNOUNCES UPDATE ON DRILLING OF WELLS IN WESTERN UKRAINE

Cub Energy Inc. has released results of the drilling of the first well in the Uzhgorod drilling program. The Uzhgorod-101 well showed that the prospective reservoir sands were water saturated with traces of natural gas that indicate there was gas migration, but no viable trapping mechanism in this particular prospect.

CNG LLC, Cub's 50-per-cent-owned subsidiary, which owns and operates the western Ukraine Uzhgorod licence, obtained valuable subsurface geological and petrophysical data from the U-101 well that will be used to refine the seismic mapping and geo-modelling prior to drilling additional wells on the licence. This upcoming study may result in revising the drilling priorities for the identified prospect inventory. CNG has released the drilling rig while these new data are being analyzed.

The Uzhgorod licence encompasses approximately 75,000 gross acres. The licence adjoins Cub's 100-per-cent-owned producing RK field and is near the producing Ptruksa field located on the Slovakian side of the border. The U-101 well was the first well in a planned three-well drill program for which all costs will be borne 100 per cent by Cub's partner.

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.

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From: JRod7710/29/2019 1:19:56 PM
   of 48
 
Ukraine conflict: Front-line troops begin pullout

bbc.com

Ukrainian government troops and Russian-backed separatists have begun withdrawing from a key front-line area in eastern Ukraine.

"The separation of forces in Zolote is happening right now," Ukrainian Foreign Minister Vadym Prystaiko said.

A separatist official quoted by Russia's RIA news agency said both sides had fired coloured signalling rockets to mark both sides' withdrawal.

A deal was agreed this month to end the Donbas region's five-year conflict.

Under the deal, both sides were to start withdrawing from their positions in the towns of Zolote and Petrivske on 9 October.

But there were skirmishes between Ukrainian police and war veterans, who tried to prevent the troop pullout.

Will a deal with Russia bring peace to Ukraine?
On 26 October Ukrainian President Volodymyr Zelensky visited the scene and ordered the war veterans to disarm.

Mr Prystaiko said shooting in Zolote stopped on 17 October and the withdrawal began on Tuesday once OSCE international monitors were there to check compliance by both sides.

Ukraine's military high command confirmed that the withdrawal had begun at 12:00 local time (10:00 GMT).

Image copyrightGETTY IMAGES
Image caption
Military representatives from both sides arranged the withdrawal with the OSCE
How did this peace deal come about?
For at least two years the fighting has been much less intense than back in 2014.

There have been daily exchanges of fire, but the front line has remained generally static.

A framework ceasefire deal was agreed in February 2015 - the Minsk agreement - but was soon violated as fighting resumed.

This year there have been several significant moves towards a peace settlement:

President Zelensky was elected by a big majority, having set a Donbas peace deal as his number one priority
In June, Ukrainian troops and separatists withdrew a kilometre from the front-line town of Stanytsia Luhanska
In September, a long-awaited prisoner swap with Russia was finally completed
On 1 October, Ukraine, Russia and the separatists agreed a deal to bring special status to the separatist-held parts of Donetsk and Luhansk regions (jointly called the Donbas)
What could be the next steps?
Mr Prystaiko said that if the Zolote disengagement goes according to plan, both sides will also withdraw from their positions in Petrivske within the next 10 days.

He also voiced hope that, next month, President Zelensky would meet Russian President Vladimir Putin for peace talks, mediated by the leaders of France and Germany, in what is known as the Normandy format.

"Several times already it was postponed for technical reasons, but you see how complicated all this is," he told reporters on Tuesday. "We are doing all we can to make this meeting happen."

Media captionSurviving the chaos in Ukraine - and living with the memories
The new impetus stems from a plan proposed in 2016 by Germany's then-foreign minister, Frank-Walter Steinmeier, calling for: free and fair elections in the east under Ukrainian law; verification by the OSCE international security organisation; and self-governing status for Donetsk and Luhansk in return.

What triggered the conflict?
Pro-Russian separatists seized control of large swathes of Donetsk and Luhansk regions in April 2014, just after Russia's annexation of Ukraine's Crimea peninsula.

It was an insurgency against the new pro-Western authorities in the capital Kyiv, who had ousted the pro-Russian President Viktor Yanukovych in street protests dubbed the "Maidan Revolution".

The separatists later declared independence from Ukraine - but no country has recognised their "republics".

Nato and Western intelligence experts have repeatedly accused Russia of sending heavy weapons and combat troops into eastern Ukraine to help the rebels.

Russia denies that, but admits that Russian "volunteers" are helping the rebels.

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From: JRod7710/31/2019 12:50:38 PM
   of 48
 
Today VET announced results and also put out a company presentation. Information regarding their Ukraine purchase was unknown until now. But if you compare the presentation information and maps below, you can see that Vermilion is very close to Cub Energy. So keeping an eye on both companies for drill results. In truth, it almost makes more sense for VET to acquire KUB since VET shares the same JV in Slovakia(NAFTA) and have similar mineral leases. They also share directors.

vermilionenergy.com

Awarded two exploration licenses totaling approximately 500,000 gross acres in Ukraine, in a 50/50 partnership with Ukrgazvydobuvannya ("UGV“), a Ukrainian state owned gas producer
? Partnership includes access to technical data, local drilling fleet, and key infrastructure
? Licenses located in one of Europe’s most prolific natural gas basins, the Dnieper-Donets Basin
? Adjacent to several existing multi-TCF gas fields
? Limited application of modern exploration and exploitation technology
? Production sharing agreement has attractive fiscal regime with gas market priced on European imports at Ukrainian hub (TTF premium)
? Modest back-end capital commitment over a 5-year period

Compared To KUB:

cubenergyinc.com

Transcarpathian Sedimentary Basin (West)
? 3 licenses 100% and 50% owned by Cub
? 108,000 gross acres (70,500 net)

Dnieper-Donets Sedimentary Basin (East)
? 6 licenses 35% owned by Cub
? 203,000 gross acres (71,000 net acres)

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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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From: JRod7711/18/2019 1:24:07 PM
   of 48
 
Kremlin Confirms Putin to Take Part in Ukrainian Peace Summit in Paris

nytimes.com

Kremlin Confirms Putin to Take Part in Ukrainian Peace Summit in Paris

By Reuters
Nov. 18, 2019
Updated 6:28 a.m. ET

MOSCOW — The Kremlin confirmed on Monday that Russian President Vladimir Putin would take part in a four-way international summit in Paris on Dec. 9, an attempt to advance efforts for a peaceful resolution to the conflict in eastern Ukraine.

The French presidency said on Friday that the leaders of France, Germany, Russia and Ukraine would take part. But until Monday the Kremlin had failed to publicly confirm its attendance.

Kremlin spokesman Dmitry Peskov told reporters on Monday that Putin would attend, but declined to discuss what Moscow's expectations for the event were.

(Reporting by Alexander Marrow and Maria Kiselyova; Editing by Andrew Osborn)

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