Subject: Hello-- Burisma and Cub Energy now business partners
From: <[email-masked]>
To: <[email-masked]>
Cc: <[email-masked]>
Date: Mon, 8 Feb 2016 09:19:10 -0500

Hello Hunter

Hope all is well with you.  It has been awhile since we last got together -- I believe it was to discuss the onerous royalty tax rate the Ukrainians had imposed on gas production.  Am still on the Board of Cub Energy.  We are now business partners.  Am sure you are aware of the below.  
Would welcome meeting up in the next few weeks to speak about this.  Vadym Pozharskyi has been in contact with Mikhail Afendkov, Chairman/CEO of Cub Energy and is encouraging Board members of our respective companies to meet up now that we are business partners.
Let me know what might work for this week or early next.
All the best,
Frank 

Burisma acquiring 70% in KUB-Gas for $30 mln
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Burisma Holdings is acquiring 70% of shares in KUB-Gas LLC from Serinus Energy, the press service of Burisma has reported.
"Resano Trading LLC, Burisma’s affiliate, has already signed an agreement and is in the process of closing a deal with Canadian public company Serinus Energy Inc. on the acquisition of 70% of KUB-Gas LLC," the company said.
According to information posted on the website of Serinus, the company will receive total cash consideration of $30 million plus working capital and inter-company adjustments.
Cub Energy Inc. (U.S., holds 30% in KUB-Gas LLC) decided not to use its priority right to buy shares, Serinus said.
The deal could be finalized by February 8.
As reported, KUB-Gas is developing the Olhivske, Makiyivske, Pivnichno-Makiyivske, Verhunske and Krutohorivske gas fields in Luhansk region.
Burisma Holdings owns Ukraine's Esko-Pivnich, Pari, First Ukrainian Oil and Gas Company and Naftogaz Garant.
Burisma has permits to develop fields in Dnipro-Donets, Carpathian and Azov-Kuban basins.