The Houston-based player is spending $25 million on thepurchase of privately-owned Ukrainian explorer PrivateCo in an all-shares deal.
The move will put another 70,000 gross acres on Cub’sUkrainian acreage portfolio which will move up to 180,000 net acres.
The three licences, which are 100%-owned by PrivateCo, beingassumed are Oskolonovskaya, Kryakovskaya and East Vergunskaya.
“(The) licences are strategically situated in the producingfairway near the majority of Cub''s current production and cash flow and vastlyincreases prospective drilling inventory,” Cub said on Friday.
Chairman
