HOUSTON, TEXAS--(Marketwired - Sept. 5, 2013) - Cub Energy Inc. ("Cub" or the "Company") (TSX VENTURE:KUB), Patrick McGrath, B.Comm., CGA, has joined the Company as the Chief Financial Officer ("CFO") effective 1 September 2013, and will be based in the Houston corporate office.
Mr. McGrath has over 15 years experience, of which the last ten years have been in senior management positions, in international oil and gas exploration, mineral exploration and development. Most recently, Mr. McGrath was CFO of Anatolia Energy Corp. ("Anatolia"), an oil and gas exploration company focused on southeast Turkey. Anatolia was acquired by the Company in June 2013 and is now a wholly-owned subsidiary of Cub.
"We are delighted by the addition of Mr. McGrath as CFO. We believe Patrick's experience in corporate finance, corporate governance and financing 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 1 September 2013. 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. (TSX VENTURE:KUB) is an upstream oil and gas company, with a proven track record of exploration and production cost efficiency in the Black Sea region. The Company's strategy is to implement western technology and capital, combined with local expertise and ownership, to increase value in its undeveloped land base, creating and further building a portfolio of producing oil and gas assets within a high pricing environment.
For further information please contact us or visit our website www.cubenergyinc.com.
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.
- Commodity Markets
Chairman and Chief Executive Officer
Cub Energy Inc.
Lionel C. McBee
Director of Investor Relations