Cubic Energy Kicks Off New Year with Drilling and Well Completions in LA

Cubic Energy, Inc. announces that, within the past week, fracture stimulation and completions began on the first three of the Johnson Branch wells. The Tabor 4 No. 1, the Gloria's Ranch 9 No. 1, and the McDonnell 8 No. 1 have been successfully fractured and are currently flowing back completion fluids.

Three additional wells, the Barlow 11 No. 1, the Luttrell 7 No. 1, and the Gloria's Ranch 16 No. 1 are scheduled for completion operations later this month.

The Company's compression and gas stripping system has been constructed and is ready for deliverability from the Johnson Branch wells, allowing for immediate post-completion production and revenue.

Cubic has recently drilled and successfully run casing on the Rye 34 No. 1, the Bonomo 35 No. 1, and the Wilbanks 36 No. 1. Drilling operations are currently underway on the Hudson 10 No. 1 which has a permitted drilling depth of 11,800 feet to examine and collect data on the Bossier/Haynesville Shales.

Cubic has a 49% working interest in its Johnson Branch acreage.