Cub Energy: Makeevskoye-16 Well Cased to TD With Numerous Potential Gas-Bearing Zones Identified

Cub Energy Inc. (TSXV:KUB), a Ukraine-focused upstream oil and gas company, has announced the Makeevskoye-16 exploration well in Ukraine has been cased to its total depth of 4,300 metres after discovering multiple potential gas-bearing zones. The well is operated by KUB-Gas LLC, a subsidiary in which Cub has a 30% ownership interest.

As quoted in press release:

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.

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