Cubic Energy Moving Forward with Louisiana Development Plans

Cubic Energy has negotiated and executed a farmout agreement allowing the Company to move forward with its plans to complete the Hosston and Cotton Valley zones in the S.E. Johnson 20 No. 1 and S.E. Johnson 29 No. 1 wells in DeSoto Parish, Louisiana. The Company expects to complete the wells later in November, subject to equipment and contractor availability.

Calvin A. Wallen III, CEO of Cubic, stated, "We look forward to the increased production and cash flow that is expected from the completion of these wells."

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.