Cubic Energy Appoints James L. Busby as CFO

Cubic Energy, Inc., announces today that effective August 15, 2005, it has appointed James L. Busby as its new Chief Financial Officer. The Company anticipates that all of the functions of the office of CFO will be performed by Mr. Busby no later than October 1, 2005.

Mr. Busby joins the Company from Aviva Petroleum Inc., where he served as the Chief Financial Officer from February 2000 to August 2005. He also served as Aviva's treasurer from May 1994 through August 2005, and secretary from June 1996 through August 2005. Mr. Busby originally joined Aviva in November 1993 as its controller. Prior to joining Aviva, he spent more than 10 years with the public accounting firm KPMG, serving in several capacities including senior audit manager. Mr. Busby graduated from the University of Texas at Dallas with a Bachelor of Science degree in accounting in May 1984.

Calvin Wallen III, President and CEO of Cubic Energy, Inc., stated, “Mr. Busby has filled a much needed position with the Company. We are confident that he has the ability to be an important contributor to our business pursuits.”

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.