HOUSTON, TEXAS -- (Marketwire) -- 07/05/12 -- Cub Energy Inc. ("Cub", or the "Company") (TSX VENTURE: KUB), is pleased to announce, subject to regulatory approval, that it has appointed Frank Mermoud as a director of the Company. Mr. Mermoud has extensive and high profile international experience in policy-making, international business, trade and investment. He is currently the President of Orpheus International, a Washington D.C. based private advisory firm.
Mr. Mermoud has served as the Secretary of State's Special Representative for Commercial and Business Affairs at the U.S. Department of State. With nearly 30 years experience in the public and private sectors, Mr. Mermoud has exhibited a pro-active nature to business development, identifying investment and trade opportunities and facilitating capital in both the private equity and debt markets.
"I am excited to be joining the team of Directors at Cub. I look forward to contributing in whatever way I can to assist management in meeting its future objectives in Ukraine," stated Mr. Mermoud.
Mr. Mermoud received a B.S. degree from the School of Foreign Service at Georgetown University, is fluent in French, and has worked extensively throughout his career in Europe, Asia, Latin America, and Africa.
"We are delighted by the addition of Mr. Mermoud to the Cub board. Frank brings a wealth of experience to the table and I look forward to working with him at the board level," said Mr. Mikhail Afendikov, Chairman and CEO.
About Cub Energy Inc.
Cub Energy Inc. is focused on the exploration and development of oil and gas in Ukraine. The Company is headquartered in Houston, Texas with offices in Kyiv, Ukraine. Cub has 110,000 net acres, in nine fields, in the two major producing basins within Ukraine. The Company's strategy is to use western technology and capital, combined with local expertise, to create value in its undeveloped land base, building a portfolio of high margin producing oil and gas assets. Cub shares are traded on the TSX Venture Exchange under the stock symbol KUB.
For further information please visit our website at 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.
Cub Energy Inc.
Lionel C. McBee
Director of Investor Relations
(713) 677-0439 or (713) 702-6628