Cubic Energy Accelerates Drilling Program

Cubic Energy will accelerate the new drilling and completion work in its Johnson Branch acreage. Financed through its credit facility with Wells Fargo Energy Capital, Cubic plans to drill four new wells through the Cotton Valley formation in its Johnson Branch acreage in the next sixty days, with one well going deeper through the Bossier/Haynesville formation.

In addition, Cubic plans to immediately commence completion operations on up to eight wells in its Johnson Branch acreage, all drilled to total depth since the summer. Cubic is finishing its infrastructure in Johnson Branch with approximately 12 miles of gathering lines and pipeline constructed for these completions. Cubic has a 49% working interest in its Johnson Branch acreage.