When you an Ubuntu Instance (On my specific case Ubuntu 12.04.5 Server) the network configuration is also cloned and your new server will not have networking. The typical error is upon boot you'll get the message: "waiting for network configuration” followed by "waiting up to 60 more seconds for network configuration."
The solution is:
sudo rm -f /etc/udev/rules.d/70-persistent-net.rules sudo reboot
Upon reboot problem should be resolved.