The Largest producer of Slovakia buys 50% in Cub Energy (the Ukraine)

Cub Energy Inc. It has announced the sale of 50% of its subsidiary CNG Holdings Netherlands, which holds the license of the Uzhgorod site, to Slovak company Nafta International BV. This was said in the company’s message.

The deal price is 1.5 million euro. According to the shareholder agreement, the companies shall carry out 3D seismic at the area of 100 square km during 20 months after the closing of the transaction, to drill three wells in the next 4 years and to finance their connection, which will cost $0.2 million per well.

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