$25m deal for 10bcf 2c ukraine gas field

http://www.naturalgaseurope.com/ukraine-cub-makes-strategic-company-acquisition

$25m for net 2C 9.6 Bcf, best estimate prospective resources of 82.6 bscf."
No well drilled until June 2015

HOG has much more than that!

"Ukraine-focused American explorer Cub Energy has announced today that it has made a "strategic" acqusition with the purchase of Ukrainian explorer PrivateCo. Cub Energy will pay $25 million for the company, which will be paid to two shareholders.

The deal, announced today, will see Cub take control of three 100% working licences, located in close proximity to Cub's core producing fields. These three licences, the Krutogorovskoye, the Oskolonovskaya and East Vergunskaya licences, contain 70,000 acres of undeveloped land. This addition will increase Cub's current acreage in Ukraine from 174,000 gross acres to 244,000 gross acres and from 110,000 net acres to 180,000 acres.

In addition to the increased acreage secured in the deal, Cub Energy says it will also gain access to estimated net 2C contingent gas resources of 9.6 billion standard cubic feet (bscf) and net best estimate prospective resources of 82.6 bscf."