CUBIC ENERGY, INC.

CUBIC ENERGY, INC.

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Company Overview
Cubic Energy Inc. (OTC BB: QBIK), incorporated in the State of Texas in 1980, is a publicly quoted independent energy company engaged in the development and production of, and exploration for, crude oil and natural gas. The company’s oil and gas assets are concentrated mostly in Texas and Louisiana. Its principal executive office is located in Dallas, TX.
Cubic Energy’s corporate strategy, with respect to its asset development efforts, was to position itself in a low-risk opportunity while building major stream high-yield reserves. This was accomplished with the acquisition of its Cotton Valley acreage in North Louisiana. Cubic Energy’s position in Desoto and Caddo Parishes, Louisiana not only puts the company in a low-risk environment with the Cotton Valley formation, but also gives itself the potential to discover additional commercial horizons that can add value to the bottom line.
In June of 2006, Cubic Energy’s total proved reserves were approximately 2,850,078 thousand cubic feet of natural gas equivalent. The company’s Texas properties are situated in Palo Pinto, Eastland and Callahan counties. Its Louisiana properties are situated in Caddo Parish and in Desoto Parish. During that time, the Louisiana properties contained the vast majority of its proved reserves. The company’s net production for the fiscal year ended June 2006 (fiscal 2006), for all of the Cubic Energy wells averaged approximately 147 thousand cubic feet of natural gas per day and three barrels of oil per day.
Business Summary
Cubic Energy, Inc. (Cubic) is an independent energy company engaged in the development and production of, and exploration for, crude oil, natural gas and natural gas liquids. The Company’s oil and gas assets are concentrated in Texas and Louisiana. As of June 30, 2010, its total proved reserves were 29,209,160 Thousand Cubic Feet Equivalent (Mcfe). Its Texas properties are situated in Eastland and Callahan Counties. These properties consist of wells acquired in several transactions between 1991 and 2002. These wells produce limited amounts of natural gas and oil condensate. The Company owns a 35% working interest in approximately 2,400 acres and a 49% working interest in approximately 8,500 acres in DeSoto and Caddo Parishes, Louisiana. Cubic’s net production for the fiscal year ended June 30, 2010 for all of the Company’s wells averaged approximately 2171 Mcf of natural gas per day,four barrels of oil per day and 105 gallons of natural gas liquids per day.
Description and history
Cubic Energy, Inc. (Cubic), incorporated in 1999, is an independent energy company engaged in the development and production of, and exploration for, crude oil, natural gas and natural gas liquids. The Company’s oil and gas assets are concentrated in Texas and Louisiana. As of June 30, 2010, its total proved reserves were 29,209,160 Thousand Cubic Feet Equivalent (Mcfe).

The Company’s Texas properties are situated in Eastland and Callahan Counties. The Texas properties consist of wells acquired in several transactions between 1991 and 2002 and through overriding royalty interests reserved in farm-out agreements in 1998 and 1999. These wells produce limited amounts of natural gas and oil condensate. The Company owns a 35% working interest in approximately 2,400 acres and a 49% working interest in approximately 8,500 acres in DeSoto and Caddo Parishes, Louisiana. Cubic’s net production for the fiscal year ended June 30, 2010 for all of the Company’s wells averaged approximately 2171 Mcf of natural gas per day, four barrels of oil per day and 105 gallons of natural gas liquids per day.

Business Line
Development and production of, and exploration for, crude oil and natural gas
Subsidiary

Advisor
PHILIP VOGEL & CO., P.C.
IPO date
1/1/1980
US SIC Code
1311
Company Address
9870, Plano Road

City province or state postal code
75238, DALLAS, TX
Phone: +1 972 686 0369
Fax: +1 972 681 9687
Country address: UNITED STATES OF AMERICA
Website url: www.cubicenergyinc.com