Cubic to Join SMH Capital Program

Cubic Energy, Inc. has entered into a formal agreement with SMH Capital Inc., the broker-dealer subsidiary of Sanders Morris Harris Group, to participate in the SMH Capital Market Services program designed to provide high-quality, small-cap companies with access to critical market making and advisory services.

Cubic Energy, Inc., the oil and gas exploration company, is among the first corporations to benefit from the new SMH Capital program which will provide market making, coordination of information flow, capital-markets advice, a research following and monitor Cubic's shareholder base. Calvin A. Wallen III, CEO of the Cubic Energy, said, "This relationship with SMH Capital will be a great benefit to the shareholders of the Company, and will accelerate the achievement of the Company's goals.''

The Market Services Group works with each client and its investor-relations firm to facilitate and communicate information to the investor community, and disseminate relevant information through the SMH institutional and retail sales forces as well as its retail affiliate network. SMH Capital (SMH) also arranges non-deal road shows to communicate each client's story. "The market-support plan that we have introduced will lead to small-cap stocks with broader ownership, better valuations and more active trading,'' stated Managing Director William W. Sprague, who heads SMH's investment banking group.

The SMH Capital Markets Services Group is emulating an already-successful model in the U.K. where the London Stock Exchange's AIM (Alternative Investment Market) provides marketing and investor relations for its small- and mid-cap companies to help them grow.

SMH Capital's work with small-cap and micro-cap energy companies is recognized nationally. It is one of the few elite firms selected by OTCQX to be an Investment Bank Designated Advisor for Disclosure (DAD). As a DAD, SMH Capital provides advice with respect to clients' OTCQX listing requirements and public disclosure obligations.

Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company's oil and gas assets and activity are concentrated primarily in Texas and Louisiana.

The SMH Capital Market Services Group is a dedicated group within SMH Capital that offers an integrated suite of services to help small cap companies communicate with the institutional community. SMH Capital Market Services Group offers clients market making services, a broad research following, capital-markets advice, monitoring of the client's shareholder base and coordination of information flow.


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