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Cub Energy Inc. (TPNEF)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.01520.0000 (0.00%)
At close: 3:23PM EDT
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  • W
    Wonne
    Time
  • R
    Rod
    Ukraine natural gas prices are back to $7.50 an MCF as per the link below.

    https://www.ueex.com.ua/eng/exchange-quotations/natural-gas/medium-and-long-term-market/

    If you look at past prices and profitability, Cub Energy was making good money when pricing was over $7 an MCF. Add in the cost cut measures put in place this year and the RK field about to go into production, there is some good upside coming.

    January 2021 7 540,06 7 443,85 7 573,23
    December 2020 6 329,75 5 943,76 6 344,48
    November 2020 6 101,31 6 186,71 6 039,92
    October 2020 5 983,81 6 051,61 5 555,96
    September 2020 4 702,90 4 521,84 4 853,50
  • R
    Rod
    $165,000 USD profit for Q4. This is with lower natural gas pricing compared to 2021 and without the RK producing, which is currently awaiting government approval.

    Cub Energy Announces 2020 Results

    http://www.cubenergyinc.com/_resources/news/nr_2021-03-31.pdf

    Houston, Texas – March 31, 2021 – Cub Energy Inc. (“Cub” or the “Company”) (TSX-V: KUB), a Ukraine-focused upstream oil and gas company, announced today its audited financial and operating results for the year ended December 31, 2020. All dollar amounts are expressed in United States Dollars unless otherwise noted. This update includes results from Kub-Gas LLC (“Kub-Gas”), which Cub has a 35% equity ownership interest, Tysagaz LLC (“Tysagaz”), Cub’s 100% owned subsidiary and CNG LLC (“CNG”), which Cub has a 50% equity ownership interest. Patrick McGrath, Interim CEO of Cub said: “We are pleased to report the two Jenbacher power units arrived on site on the RK field in Q4 2020 and were successfully installed and tested during Q1 2021 and just awaiting final regulatory approval to start selling into the local power grid. While the commercialization has taken longer than expected, we look forward to the commencement of power production. Due to stronger gas trading margins in the fourth quarter of 2020, the Company reported net income of $165,000 during the three months ended December 31, 2020.” Operational Highlights

    • Achieved average natural gas price of $3.79/Mcf and condensate price of $41.07/bbl during the year December 31, 2020 as compared to $5.36/Mcf and $49.51/bbl for 2019. The decrease in gas price is in large part due to the impact of COVID-19. To date in 2021, the Company has seen the price of natural gas in Ukraine rebound to the $5/Mcf-$6/Mcf range.

    • Production averaged 619 boe/d (97% weighted to natural gas and the remaining to condensate) for the year December 31, 2020 as compared to 784 boe/d for 2019.

    • In 2020, the Company has signed a contract for the purchase of two Jenbacher gas power generation engines that should convert the natural gas produced from the RK field into power that can be sold in western Ukraine at local market rates. The two units were manufactured and delivered to the RK Field in the fourth quarter of 2020 to begin installation and commissioning. Each power generation unit will have the capacity to produce as much as 1.5 megawatts (“MW”) of power or 3 MW in total.

    Financial Highlights

    • The gross profit on the Company’s gas trading business increased to $1,523,000 during the year ended December 31, 2020 as compared to $825,000 in gross profit in 2019.

    • The Company reported net income of $165,000 or $0.00 per share during the three months ended December 31, 2020 as compared to a net loss of $11,320,000 or $0.04 per share during 2019. The Company reported a net loss of $2,109,000 or $0.01 per share during the year December 31, 2020 as compared to a net loss of $11,060,000 or $0.04 per share during 2019. Excluding the one-time impairment and provision charges in 2019, the Company would have had net income of $262,000.

    • Netbacks of $8.55/boe or $1.43/Mcfe were achieved for the year December 31, 2020 as compared to netback of $15.88/Boe or $2.65/Mcfe for 2019.

    • The Company has implemented certain cost-cutting initiatives during 2020, including the layoff of eleven team members, salary and director fee reductions, the signing of office leases at lower rent levels and a general decrease in the use of external consultants.
  • E
    Eric
    The volume remains extremely thin. Is this tightly held?
  • R
    Rod
    EU To Label Gas to Electricity Plants As "Green"

    https://www.euractiv.com/section/energy-environment/news/eu-to-offer-gas-plants-a-green-finance-label-under-certain-conditions/

    EU to offer gas plants a green finance label, under certain conditions

    The European Union plans to label some gas power plants as sustainable investments, after an initial proposal to deny them a green label faced a backlash from a group of 10 EU member states.

    The European Commission’s new proposal, shared with EU countries on Saturday, would class gas-fuelled plants that generate power plus heating or cooling as a green investment if strict conditions on emissions are met and they are operating by 2025.

    The EU’s updated proposal for gas plants is part of its Sustainable Finance Taxonomy, which defines what economic activities can be marketed in Europe as sustainable investments from next year. The full text of the proposal was published online by specialised news site Contexte.

    The Commission declined to comment on the draft proposal. It plans to finalise the sustainable finance rules by April 21.

    The EU’s aim is to steer more capital into environmentally friendly projects to help it deliver on its plan to rapidly slash the greenhouse gas emissions causing climate change.

    But the taxonomy has become mired in disputes between EU countries over how to treat investments in natural gas, forcing the Commission to rewrite its original proposal from November.

    Natural gas, a fossil fuel, produces roughly half the carbon dioxide (CO2) emissions of coal when burned in a power plant and countries such as Poland and Germany plan to use gas to wean themselves off the more polluting fuel.

    However, gas is not emissions-free and there are growing concerns that leaks of potent planet-warming methane from gas infrastructure could cancel out the benefits of switching to gas from coal.

    Strict conditions

    Under the draft plan, gas plants that generate power and also provide heating or cooling can be classed as a green investment if they replace a high-emitting fossil fuel-based facility and result in a cut in greenhouse gas emissions of at least 50% per kilowatt hour (kWh) of energy produced.

    The gas plant must be operating by 2025, have the potential to use low-carbon fuels in future, and emit no more than 270 grams of CO2 equivalent per kWh of energy.

    For plants only producing power, or those that also provide heating or cooling but do not replace a more polluting plant, the Commission stuck to its plan to restrict the green label to plants with life-cycle emissions below 100g of CO2 equivalent per kWh, according to the draft document.

    That means gas power plants operating now would need to add technology to capture their emissions to qualify.

    Sean Kidney, chief executive of the Climate Bonds Initiative, said it was a major win for climate action that the Commission had not weakened this 100g emissions limit.

    “That is a key marker for electricity generation that we need to spread globally,” said Kidney, a member of the EU’s advisory group on the sustainable finance taxonomy.

    James Watson, secretary general of gas industry group Eurogas, declined to comment on the draft proposal but said the 100g limit was a barrier to switching to gas from coal.

    “The taxonomy must leverage all viable technology, including highly efficient gas-fired solutions and renewable and low-carbon gas-ready units,” Watson said.

    The new proposal aims to placate countries split over the finance rules, as it would take a majority of the bloc’s 27 members to veto them.

    A group of 10 EU countries, including Bulgaria and Poland, had urged the Commission to label gas power as green by giving plants a feasible threshold they could meet.

    States including Denmark and Spain, however, have warned Brussels not to weaken its initial plan to deny gas a green label.
  • R
    Rod
    Year end reserves also came out in a press release. Will be re-evaluated this year once RK is producing. Also, new company presentation for April. Tried to post, but glitchy Yahoo won't allow it.
  • E
    Eric
    The mojo is back? I don’t think I’ve ever seen it that high!
  • R
    Rod
    Update on generators out today. But Yahoo won't allow me to post it. Please check Sedar.
  • R
    Rod
    Cub Energy Inc. April 2021 Company Presentation & Natural Gas Pricing In Ukraine

    http://www.cubenergyinc.com/_resources/corporate-presentation.pdf

    https://www.ueex.com.ua/eng/exchange-quotations/natural-gas/medium-and-long-term-market/#

    Based on the natural gas pricing in Ukraine, which was substantially lower in 2020 compared to 2021, Cub Energy should have much larger profitable quarters going forward, especially when the RK field begins producing.
  • L
    Lost it
    Kub really has a huge potential this next year or 2. I have my stock tucked away for the growth. It is tough to find information on Kub. I appreciate the posts stocksearch55.
    Seems news comes with the quarterly reports.
  • R
    Rod
    Cub Energy news today, sale of a non producing asset. See Sedar for the news since Yahoo doesn't work.
  • R
    Rod
    Cub Energy Inc. May 2021 Company Presentation - http://www.cubenergyinc.com/_resources/corporate-presentation.pdf
  • E
    Eric
    Every day higher. Volume seems to be increasing... me liking this!
  • R
    Rod
    Cub Energy News, RK field in production now. Again, Yahoo dropping the ball on posting abilities.
  • M
    M.A.
    Come KUB need some good news on well 07
  • E
    Eric
    It’s happening!
  • E
    Eric
    I have the feeling if this goes to 0.06 then we are on!
  • E
    Eric
    When do they publish ER? This is already mid-may!
  • L
    Lost it
    Yahoo stats are 2 cents a share in cash. So for 2 cents you get the business.
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