Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Cub Energy Inc: Krutogorovskoye-7 Well Tests 5.9 MMcf/d

HOUSTON, TEXAS -- (Marketwire) -- 02/01/13 -- Cub Energy Inc. ("Cub" or the "Company") (TSX VENTURE:KUB), a Ukraine-focused upstream oil and gas company, announces the discovery of commercial volumes of natural gas in the Krutogorovskoye-7 ("K-7") exploration well in Ukraine. The K-7 well is operated by KUB-Gas, a partially-owned subsidiary in which Cub has a 30% ownership interest.

The K-7 well commenced drilling in September 2012 and was cased to a total depth ("TD") of 3,206 metres in early November 2012. Wireline logging of the well indicated up to 5 potential gas zones in the Bashkirian and Serpukhovian sands between depths of approximately 2,390 metres and 2,760 metres. A 10 metre section of the Bashkirian B12 zone, from a depth of 2,395 to 2,398 metres and from 2,400 to 2,407 metres, was selected for testing.

The well was flow tested for a period of 14 hours using the various choke sizes listed in the table below and achieved a maximum rate of 5.914 MMcf/d through a 9 mm choke. Average production through the 9 mm choke was 5.896 MMcf/d at an average flowing pressure of 14,435 kPa.


                                                                            
----------------------------------------------------------------------------
Choke Size                       Flow Rate (MMcf/d)   Flowing Pressure (kPa)
----------------------------------------------------------------------------
5mm                                           2.274                   17,826
----------------------------------------------------------------------------
6mm(1)                                        3.356                   18,331
----------------------------------------------------------------------------
7mm                                           4.020                   16,148
----------------------------------------------------------------------------
8mm                                           4.877                   15,009
----------------------------------------------------------------------------
9mm                                           5.896                   14,435
----------------------------------------------------------------------------
6mm(2)                                        3.241                   17,700
----------------------------------------------------------------------------
1 first flow                                                                
2 second flow                                                               

During the test the well was slugging condensate and analysis of well data indicates a calculated rate of 33 barrels of condensate per MMcf of gas.

The well, which has now been shut-in to observe pressures, is expected to be on production in the third quarter of 2013 after the construction of 1.7 kilometres of new pipeline.

Notes to Editor:

Krutogorovskoye is a 1,100 hectare exploration licence granted to KUB-Gas in 2004. It is located near the city of Lugansk, approximately 105 kilometres to the southeast of the KUB-Gas licences at Olgovskoye, North Makeevskoye and Makeevskoye and 12 kilometres northwest of the KUB-Gas licence at Vergunskoye.

About Cub Energy Inc.

Cub Energy Inc. (TSX VENTURE:KUB) is a Ukraine-focused upstream oil and gas company with 110,000 net acres, in nine exploration and production licences, in the two major producing basins within Ukraine. The Company's strategy is to use western technology and capital, combined with local expertise to create value in its undeveloped land base, building a portfolio of high margin producing oil and gas assets. The Company has offices in Houston, Toronto and Kyiv and trades in Toronto on the TSX Venture Exchange under the stock symbol KUB.

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 the Ukraine 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 realize 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.

Contacts:
Cub Energy Inc.
Lionel C. McBee
Director of Investor Relations
(713) 677-0439
lionel.mcbee@cubenergyinc.com

Cub Energy Inc.
Mikhail Afendikov
Chairman and Chief Executive Officer
(713) 677-0439
mikhail.afendikov@cubenergyinc.com
www.cubenergyinc.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Cloud Developer Stories
14th International Cloud Expo, held on June 10–12, 2014 at the Javits Center in New York City, featured three content-packed days with a rich array of sessions about the business and technical value of cloud computing, Internet of Things, Big Data, and DevOps led by exceptional s...
People often ask how Qubell is different from Chef, Puppet, OpenShift, Docker, Heat, Ansible, Mesos, Kubernetes or some other hip product du jour. Like any comparison of apples to oranges, the answer involves a surprisingly deep investigation into botanical conventions, differenc...
Qubell, an innovator in application deployment and configuration management, empowers online companies to do what they have never been able to do before: put into consumers' hands innovative new features and services, almost as fast as they can conceive them, without sacrificing ...
BlueBox bridge the chasm between development and infrastructure. Hosting providers are taking standardization and automation too far. For many app developers it does nothing but spawn mayhem and more work. They have to figure out how their creations live on a pre-fab infrastructu...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the “Internet of Things” (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve c...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE