Cub Energy Inc. has commenced drilling of the Makeevskoye-16 (M-16) well in Ukraine. Cub previously announced it was accelerating the Company's 2012 drilling program and had acquired, through contract, an additional rig from Burova Kompaniya Ukrburservice LLC to drill the M-16 well. The well is operated by KUB-Gas LLC (KUB-Gas), a subsidiary in which Cub has a 30% ownership interest.

The M-16 well, with a planned total depth (TD) of 3,850 metres, will evaluate stacked potential reservoir targets in Moscovian, Bashkirian and Serpukhovian aged rocks and is expected to take 90 days to reach TD.

Tags: CUB Energy Inc.