AEE Anatolia Energy Corp

Cub Energy Inc. (TSX VENTURE:KUB) ("Cub") and Anatolia Energy Corp. (TSX
VENTURE:AEE) ("Anatolia") are pleased to announce that they have completed their
previously announced business combination whereby Cub acquired all of the issued
and outstanding common shares of Anatolia ("Anatolia Shares") in exchange for
common shares of Cub ("Cub Shares") pursuant to a plan of arrangement under the
Business Corporations Act (Alberta) (the "Arrangement").


On Monday, June 24, 2013, the Arrangement was approved at a special shareholder
meeting of Anatolia shareholders ("Anatolia Shareholders") by 98.64% of the
votes cast by the Anatolia Shareholders and 98.48% of the votes cast by the
Anatolia Shareholders, after excluding those required to be excluded by
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions. The Arrangement was also approved by the Court of Queen's
Bench of Alberta on June 26, 2013. 


Pursuant to the terms of the Arrangement, Anatolia Shareholders received 0.106
of a Cub Share for each Anatolia Share held (the "Exchange Ratio"), resulting in
the issuance of approximately 13.9 million Cub Shares. As a result of the
Arrangement, Anatolia became a wholly-owned subsidiary of Cub. Each of the
former officers and directors of Anatolia has resigned and was replaced by a Cub
nominee. Tim Marchant, the former Chairman of the board of Anatolia, was elected
to the board of directors of Cub on May 29, 2013 and will continue in this
capacity.


Pursuant to the terms of the Arrangement, outstanding Anatolia common share
purchase warrants ("Anatolia Warrants") now represent the right to subscribe for
such number of Cub Shares at such exercise as determined by the terms of the
Anatolia Warrants and the Exchange Ratio. As a condition to the completion of
the Arrangement, holders of all outstanding options to acquire Anatolia Shares
entered into option termination agreements with Anatolia.


It is anticipated that the Anatolia Shares will be de-listed from the TSX
Venture Exchange within three business days. 


Transaction Rationale

The combination of Cub and Anatolia is a strategic opportunity that is expected
to benefit both sets of shareholders. The combined assets of Cub will consist of
approximately 1,400,000 gross (760,000 net) acres in the Ukraine and Turkey. The
acquisition of Anatolia and another recently completed acquisition in the
Ukraine adds significant drilling prospects for both conventional and
unconventional resources. Cub's producing Ukraine assets (current production net
to Cub is approximately 1,600 boe/d) will now be underpinned by a larger
portfolio of exploration opportunities and a potentially significant shale oil
resource play.


The merger of Cub's and Anatolia's businesses is anticipated to provide
operating efficiencies through the consolidation of certain operating and
administrative functions. The merger of Anatolia and Cub provides Anatolia
Shareholders with equity ownership in a larger entity with proven production and
growth potential from a more diversified, resource-oriented asset base supported
by the financial resources available to Cub to develop such asset base. The
merger provides Anatolia Shareholders the opportunity to continue to participate
in the future growth of Anatolia's portfolio of assets and opportunities,
through the ownership of Cub Shares.


About Cub Energy Inc.

Cub is an upstream oil and gas company, with a proven track record of
exploration and production cost efficiency in the Black Sea region. Cub's
strategy is to implement western technology and capital, combined with local
expertise and ownership, to increase value in its undeveloped land base,
creating and further building a portfolio of producing oil and gas assets within
a high pricing environment. 


For further information on Cub please contact us or visit our website:
www.cubenergyinc.com. 


Reader Advisory

This news release contains certain "forward-looking information" within the
meaning of applicable securities law. All statements other than statements of
historical fact are considered forward-looking information. Forward-looking
information is frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or "will" occur.
Cub and Anatolia believe that the expectations reflected in the forward-looking
information are reasonable; however there can be no assurance those expectations
will prove to be correct. Cub and Anatolia cannot guarantee future results,
performance or achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as those set out
in the forward-looking information. 


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: general economic conditions in Ukraine and Turkey and
globally; industry conditions, including governmental regulation of the natural
gas industry, including environmental regulation; unanticipated operating events
or performance which can reduce production or cause production to be shut in or
delayed; failure to obtain industry partner and other third party consents and
approvals, if and when required; competition for and/or inability to retain
drilling rigs and other services; the availability of capital on acceptable
terms; failure to obtain approvals from regulatory authorities; stock market
volatility; volatility in market prices for natural gas; liabilities inherent in
natural gas operations; competition for, among other things, capital,
acquisitions of reserves, undeveloped lands, skilled personnel and supplies;
incorrect assessments of the value of acquisitions; geological, technical,
drilling, processing and transportation problems; changes in tax laws and
incentive programs relating to the natural gas industry; failure to realize the
anticipated benefits of acquisitions and dispositions; and the other factors.
Readers are cautioned that this list of risk factors should not be construed as
exhaustive.


This cautionary statement expressly qualifies the forward-looking information
contained in this news release. Cub and Anatolia undertake no duty to update any
of the forward-looking information to conform such information to actual results
or to changes in Cub's or Anatolia's respective expectations except as otherwise
required by applicable securities legislation. Readers are cautioned not to
place undue reliance on forward-looking information. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cub Energy Inc.
Lionel C. McBee
Director of Investor Relations
(713) 677-0439
lionel.mcbee@cubenergyinc.com


Cub Energy Inc.
Mikhail Afendikov
Chairman and Chief Executive Officer
(713) 677-0439
mikhail.afendikov@cubenergyinc.com
www.cubenergyinc.com

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