Cub Energy Inc. Reports Year-End Reserves for 2013

HOUSTON, TEXAS--(Marketwired - March 26, 2014) - Cub Energy Inc. ("Cub" or the "Company") (TSX VENTURE:KUB) announces the results of its independent reserves evaluation as at December 31, 2013 on its oil and gas properties. The evaluation was conducted by RPS Energy Consultants LLC ("RPS"), an independent qualified reserves evaluator and auditor, on the Company's properties in Ukraine in its report dated March 20, 2014 ("The RPS Report").

All evaluations were prepared using guidelines outlined in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and are in accordance with Canadian Securities Administrators National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Cub's NI 51-101 disclosure is contained in its Annual Information Form for the year ended December 31, 2013 filed on SEDAR (www.sedar.com) and posted on the Company's website at www.cubenergyinc.com.

HIGHLIGHTS:

• Proved developed producing ("PDP") oil and natural gas reserves of 1,142 Mboe or 6,852 MMcfe with PV-10 (as defined herein) of $51.4 million
• Proved ("1P") oil and natural gas reserves of 2,267 Mboe or 13,602 MMcfe with PV-10 of $76.9 million
• Proved and probable ("2P") oil and natural gas reserves of 4,545 Mboe or 27,270 MMcfe with PV-10 of $150.8 million

Total Company Reserves Summary

The following tables summarise total Company reserves and associated net present value discounted at 10% before tax at December 31, 2013 using forecast prices.

Table 1 Total Company Reserves Volumes ⁽¹⁾⁽²⁾

Reserves Category	Natural Gas (MMcf)	NGLs (Mbbls)	Mboe	MMcfe
Developed producing	6,736	20	1,142	6,852
Developed non-produced	1,137	7	196	1,176
Undeveloped	5,517	9	928	5,568
Total Proved (1P)	13,388	35	2,267	13,602
Total Proved plus Probable (2p)	26,697	96	4,545	27,270

Note: