Cub Energy’s Makeevskoye-16 Well Cased to Total Depth of 4,300 metres, Reveals Multiple Gas-Bearing Zones

Cub Energy Inc.(TSXV:KUB) announced that the Ukraninan Makeevskoye-16 exploration well has been cased to its total depth of 4,300 metres after encountering multiple potential gas-bearing zones.

As quoted in the press release:

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.

Cub’s Chairman and CEO, Mikhail Afendikov, said:

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.

To view the full press release, click here.