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All Penny News: Conflict in Eastern Ukraine Causes Shutdown of Cub Energy Exploration as Production Increases


Mississauga, ON -- (SBWIRE) -- 06/27/2014 -- Media, Inc. ( announces its latest article titled “Conflict in Eastern Ukraine Causes Shutdown of Cub Energy Exploration as Production Increases.”

Companies mentioned in this article include Cub Energy Inc. (TSX-Venture:KUB).

Article Excerpt:

According to Ukrainian President Petro Poroshenko at a European Union summit in Brussels on Friday, pro-Russian separatists aren’t exactly concerned by a unilateral agreement for a ceasefire between Russia and Ukraine. Poroshenko told reporters that Ukrainian soldiers have remained targets in more than 150 attacks since the so-called ceasefire began on June 20, including five soldiers being killed on Friday. The website reports that Ukrainian authorities also continue their assault, despite the truce.

Russian President Vladimir Putin wants a long-term ceasefire to conduct substantive talks between Kiev and representatives of Ukrainian rebels, but Poroshenko says that he is not going to lengthen the ceasefire’s deadline if the separatists are simply going to use the time to re-stock ammunition.

By large, the markets are ignoring the war in Ukraine at this point, but it is going to have at least a minor impact on Cub Energy Inc. (TSX-Venture:KUB), due to the Houston, Texas-based oil and gas company’s interest in KUB-Gas. Cub owns 30 percent of KUB-Gas through a 30-percent ownership of KUBGAS Holdings Ltd. Cub has 244,000 gross acres in two prospective basins located on the eastern (Dnieper-Donets Basin) and western (Transcarpathian Basin) boundaries of Ukraine.

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