CUB Energy Inc.

CUB Energy Inc.

April 23, 2012 21:40 ET

CUB Energy Inc. Announces Receipt of Final Bulletin for Reverse Takeover Transaction With Gastek LLC

HOUSTON, TEXAS--(Marketwire - April 23, 2012) - CUB Energy Inc. ("CUB", or the "Company") (TSX VENTURE:KUB) is pleased to announce that, further to its press release dated March 29, 2012, the TSX Venture Exchange (the "TSXV") has issued its final bulletin in connection with the completion of the Corporation's previously announced reverse take-over transaction with Gastek LLC (the "Transaction"). The common shares of CUB will be listed on Tier 1 of the TSXV and will continue to trade under the symbol "KUB".

About CUB Energy Inc.

CUB Energy Inc. is a Canadian listed public company focused on the exploration and development of oil and gas in Eastern Europe. With offices in Houston and Kyiv, CUB is one of the five largest oil & gas operators in energy-rich Ukraine, with access to domestic markets as well as markets across Europe. CUB has a large land base in two major producing basins within Ukraine made up of nine fields with 110,000 net acres, and a growing inventory of drill locations with 8 permitted today to be drilled in 2012. In the Transcarpathian Basin, CUB is the 100% owner and operator of four fields totaling approximately 80,000 acres. In the Dnieper-Donets Basin CUB is the 30% owner and joint-operator of five fields totaling 30,000 net acres. The Corporation's strategy is to use western technology, capital, and expertise to grow its proven undeveloped reserves and build a portfolio of low cost gas production assets in Eastern Europe to capitalize on high regional gas prices. CUB shares are traded on the TSXV under the stock symbol KUB.

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The TSX Venture Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release. 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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