Cubic Energy Extends Closing of Previous Purchase of Texas Assets

Cubic Energy, Inc. announced that the closing of the previously announced purchase of Gastar's East Texas properties has been extended to June 28, 2013 with a termination date of July 12, 2013 in order to allow additional time to finalize financing for the transaction. As compensation for the extension of the closing date, the parties have agreed to reduce certain identified due diligence negative adjustments to the purchase price by $350,000.

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