Issue link: http://resourceworld.uberflip.com/i/99312
OIL A N D G AS Cub Energy cases Ukrainian well Cub Energy Inc. [KUB-TSXV] has cased the Makeevskoye-16 (M-16) exploration well in Ukraine to its total depth (TD) of 4,300 metres after encountering multiple potential gas-bearing zones. The well is operated by KUB-Gas LLC, a subsidiary in which Cub has a 30% ownership interest. The M-16 exploration well reached its revised total depth of 4,300 metres on Nov. 28, 2012, and has now been cased to TD. Completion and testing of the well will occur in the first quarter of 2013. The well encountered multiple zones which appear to be gas bearing based upon drilling information and interpretation of wireline logs. Potential gas zones were encountered in the Moscovian, Bashkirian and Serpukhovian sections of the well. At 4,300 metres TD, the M-16 well targeting the Serpukhovian and Visean stratigraphic intervals is the deepest well drilled to date by the company. The discovery of potential pay in these intervals, if supported by production tests, continues to support the company's belief that significant value yet remains to be found in the Olgovskoye and Makeevskoye areas. Mikhail Afendikov, chairman and chief executive of Cub Energy, commented: "We are quite pleased with M-16's preliminary results and are especially glad to see the potential pay zone in the deeper Serpukhovian interval. If proven to be productive by testing, it will open up a significant part of the O and M area to lower risk development drilling. This deeper potential, together with the shallower potential, if proven to be productive through testing, will give us multiple development locations for future drilling." n Booking Stories for BTV! "The exposure we've had has been phenomenal, lots of feedback from our shareholders and other investors." – Charles Page, CEO Queenston Mining TMI:TSX TELL YOUR STORY TO OVER 100 MILLION HOUSEHOLDS! www.b-tv.com www.ceoclips.com DECEMBER 2012/JANUARY 2013 Profiling Publicly Traded Companies on TV and Financial Portals www.resourceworld.com 71