Cub Energy Inc. Commences Drilling of the RK-21 Well in Ukraine

Cub Energy Inc. ("Cub", or the "Company") (TSX VENTURE:KUB) announces it has
commenced drilling of the Rusko-Komarovske-21 ("RK-21") development well on the
Rusko-Komarovske ("RK") licence in western Ukraine. The RK-21 well is operated
by Cub's wholly-owned subsidiary, JSC Tysagaz. 


RK-21 Well 

The RK-21 directional well is the second well for Cub to drill on the RK licence
and has a planned total depth of 1,825 metres measured depth ("MD") and 1,750
metres total vertical depth. The main objective of the RK-21 well is to target
the middle Miocene Dorobratovskaya and Badenian sands, which are locally
referred to as the D-1 through D-5 and B-1 through B-5 sands as seen in the
Company's RK-2 and RK-6 legacy wells. 


The RK-21 location is approximately 450 metres southwest of the RK-6 well, in
which both wireline logs and tests through casing have indicated gas in both the
D and B series of sands. The RK-21 well location was identified by 3-D seismic
acquired by Cub in early 2013. The Company has contracted with Esta Well
Services LLC to drill the RK-21. The well is expected to take approximately 35
days to reach the planned MD. 


About Cub Energy Inc. 

Cub Energy Inc. (TSX VENTURE:KUB) is an upstream oil and gas company, with a
proven track record of exploration and production cost efficiency in the Black
Sea region. The Company's strategy is to implement western technology and
capital, combined with local expertise and ownership, to increase value in its
undeveloped land base, creating and further building a portfolio of producing
oil and gas assets within a high pricing environment.


For further information please contact us or visit our website www.cubenergyinc.com 

Reader Advisory

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. Cub believes that the expectations reflected in the forward-looking
information are reasonable; however there can be no assurance those expectations
will prove to be correct. We cannot guarantee future results, performance or
achievements. Consequently, there is no representation that the actual results
achieved will be the same, in whole or in part, as those set out in the
forward-looking information. 


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: general economic conditions in Ukraine, the Black Sea Region
and globally; industry conditions, including fluctuations in the prices of
natural gas; governmental regulation of the natural gas industry, including
environmental regulation; unanticipated operating events or performance which
can reduce production or cause production to be shut in or delayed; failure to
obtain industry partner and other third party consents and approvals, if and
when required; competition for and/or inability to retain drilling rigs and
other services; the availability of capital on acceptable terms; the need to
obtain required approvals from regulatory authorities; stock market volatility;
volatility in market prices for natural gas; liabilities inherent in natural gas
operations; competition for, among other things, capital, acquisitions of
reserves, undeveloped lands, skilled personnel and supplies; incorrect
assessments of the value of acquisitions; geological, technical, drilling,
processing and transportation problems; changes in tax laws and incentive
programs relating to the natural gas industry; failure to realise the
anticipated benefits of acquisitions and dispositions; and the other factors.
Readers are cautioned that this list of risk factors should not be construed as
exhaustive. 


This cautionary statement expressly qualifies the forward-looking information
contained in this news release. We undertake no duty to update any of the
forward-looking information to conform such information to actual results or to
changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information. 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mikhail Afendikov
Chairman and Chief Executive Officer
(713) 677-0439
mikhail.afendikov@cubenergyinc.com


Lionel C. McBee
Director of Investor Relations
(713) 577-1955
lionel.mcbee@cubenergyinc.com
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