Last C$0.06 CAD
Change Today 0.00 / 0.00%
Volume 15.3K
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As of 9:30 AM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

cub energy inc (KUB) Snapshot

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52 Week High
12/30/13 - C$0.25
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Market Cap
18.7M
Average Volume 10 Days
41.7K
EPS TTM
C$-0.06
Shares Outstanding
311.7M
EX-Date
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cub energy inc (KUB) Details

Cub Energy Inc., a junior oil and gas company, explores for and develops oil and gas in Ukraine. The company holds 12 licenses with approximately 180,000 net acres in Ukraine. Cub Energy Inc. is headquartered in Houston, Texas.

65 Employees
Last Reported Date: 03/26/14

cub energy inc (KUB) Top Compensated Officers

Executive Chairman and Chief Executive Office...
Total Annual Compensation: --
Chief Financial Officer
Total Annual Compensation: $115.5K
Chief Operating Officer and Executive Vice-Pr...
Total Annual Compensation: $270.0K
Chief Compliance Officer, General Counsel and...
Total Annual Compensation: $74.0K
Consultant
Total Annual Compensation: $170.0K
Compensation as of Fiscal Year 2013.

cub energy inc (KUB) Key Developments

CUB Energy Inc. Announces Earnings and Operating Results for the Third Quarter and Earnings Results for the Nine Months Ended September 30, 2014

CUB Energy Inc. announced earnings and operating results for the third quarter and earnings results for the nine months ended September 30, 2014. For the quarter, the company reported petroleum and natural gas revenue of $1,444,000 against $627,000 a year ago. Net loss was $19,399,000 or $0.06 per basic and diluted share against net profit of $875,000 a year ago. Funds generated from operations were $2,873,000 against funds used in operations of $515,000 a year ago. Capital expenditures were $2,671,000 against $4,833,000 a year ago. For the nine months, the company reported petroleum and natural gas revenue of $4,838,000 against $2,505,000 a year ago. Net loss was $18,122,000 or $0.06 per basic and diluted share against net profit of $1,477,000 or $0.01 per basic and diluted share a year ago. Funds generated from operations were $5,249,000 against $1,792,000 a year ago. Capital expenditures were $6,779,000 against $6,062,000 a year ago. Production averaged 2,174 barrels of oil equivalent a day (boe/d) (95% natural gas) for the three months ended September 30, 2014 for an increase of 44% over 1,513 boe/d in the same period in 2013. Netback of $29.64/Boe or $4.94/Mcfe for the quarter ended September 30, 2014, which decreased as a result of the temporary increase in royalty rates as compared to a netback of $41.46/boe or $6.91/Mcfe for the quarter ended June 30, 2014.

Cub Energy's RK-23 Well Tests 2.3 MMcf/D

CUB Energy Inc. announced that the shallow L Sands in the Rusko-Komarovske 23 (RK-23) well tested gas at a rate of over 2.3 million cubic feet per day (MMcf/d) through an eight millimetre choke. The well has been shut in for a pressure build up, after which the recorders will be retrieved and the well will be tied in for production on or around December 1, 2014. The RK-23 well is 100% owned and operated by Cub in western Ukraine. The RK-23 vertical well is the third well for Cub to drill on the RK licence and was drilled to total depth of 850 metres. Four apparent gas sands were logged, with the lower two zones being perforated and tested.

Cub Energy Inc. Commences Drilling on Rusko-Komarovske Well

Cub Energy Inc. announced the Rusko-Komarovske 23 (RK-23) well has commenced drilling. The RK-23 well is 100% owned and operated by Cub in western Ukraine. The RK-23 vertical well is the third well for Cub to drill on the RK licence and has a planned total depth of 900 metres measured depth (MD). The RK-23 well is to target the Miocene Lukovskaya sands, locally known as the L Sands. The RK-23 location is approximately 500 metres south of the RK-22 well, which is producing from the L Sands in an adjacent fault block. The company has contracted with Esta Well Services LLC, the same drilling company used in the drilling of RK-21. The well is expected to take approximately 20 days to reach the planned MD.

 

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