Cub Energy - Highlights, The 71st Oilbarrel Conference, Thursday 12th March 2015
VKUB
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OIL
Fri, 13 Mar 2015, 03:15pm GMT
Mikhail Afendikov, Chairman and Chief Executive Officer
Houston-based Cub Energy, which is listed on the TSX-Venture Exchange, is focused on Ukraine, where it produces over 2,000 boepd. Despite lower commodity prices and higher taxes, Cub expects to remain cash flow positive in 2015. As a result of the current political and economic turmoil in the region, the company has curtailed its budget for the year ahead and is curbing its exploration plans until conditions improve when it will drill up its significant prospect inventory.