CUB Energy Inc.
TSX VENTURE : KUB

CUB Energy Inc.

June 27, 2012 04:30 ET

CUB Energy Inc. Announces New Chief Financial Officer

HOUSTON, TEXAS--(Marketwire - June 27, 2012) - CUB Energy Inc. ("CUB", or the "Company") (TSX VENTURE:KUB) is pleased to announce, subject to regulatory approval, it has appointed Alyson Patrick Beicker as its new Chief Financial Officer. Ms. Patrick Beicker has over 16 years' experience in oil and gas accounting and finance, both in the public and private sector. Prior to joining CUB, Ms. Patrick Beicker was Vice President of Finance and Treasury for Cal Dive International. Ms. Patrick Beicker earned her Bachelor of Business Administration degree from North Carolina Wesleyan College and her Master's in Business Administration from DeVry University's Keller Graduate School of Management.

"We are delighted by the addition of Ms. Patrick Beicker as CFO. We believe Alyson's experience in corporate finance, corporate governance and compliance is a strong addition to our management team," said Mr. Mikhail Afendikov, Chairman and CEO.

CUB also announces that Wally Rudensky resigned as the CFO of CUB effective 25 June 2012. Mr. Rudensky joined CUB in August of 2010.

"On behalf of CUB's board of directors and all of its employees, we would like to thank Mr. Rudensky for his contribution to the Company. We wish to congratulate Wally on his successful career and extend our best wishes for his future endeavours," said Mikhail Afendikov, Chairman and CEO.

About CUB Energy Inc.

Cub Energy Inc. is a TSX Venture Exchange company focused on the exploration and development of oil and gas in Ukraine. The company is headquartered in Houston, Texas with offices in Kyiv, Ukraine. Cub has 110,000 net acres, in nine fields, in the two major producing basins within Ukraine. The Corporation'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. Cub shares are traded under the stock symbol KUB.

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

Reader Advisory 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.

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