Brief: Cub Energy Inc posts quarterly EPS of $0.00

Hemlo Mining

24/05/2016 21:45

May 25 (Reuters) - Cub Energy Inc  KUB.V  
    * Production averaged 1,644 boe/d for quarter ended march 
31, 2016, which is flat compared to 1,644 boe/d in comparative 
2015 quarter 
    * Qtrly earnings per share $0.00 
    * Company is evaluating 2016 work programs in light of 
recently reduced royalty rate of 29 pct effective January 1, 
2016 
    * May not have sufficient cash to continue exploration and 
development activities 
    * Says continues to explore solutions to gas blending 
contract at RK field at Tysagaz 
    * Says company hopes to resume production at RK field in 
July 2016 
    * Uncertainty about sufficient cash to continue exploration, 
development activities creates doubt about ability to continue 
as going concern 
    * Announces Q1 2016 financial and operational results 
 
Source text for Eikon:  ID:nMKW1hYSca  
Further company coverage:  KUB.V  
 
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