Cubic Energy Inc.

Cubic Energy Inc., Dallas, (Amex: QBC) has retained RBC Richardson Barr Securities Inc. to seek strategic alternatives for the company's assets in northwestern Louisiana. Cubic's assets in Caddo and DeSoto parishes include the Rodessa, Pettet, Upper and Lower Hosston, Cotton Valley and the Haynesville shale, including gathering and pipeline systems. Substantially all of its acreage is held by production. Cubic reported in June that it controlled 12,000 gross acres (6,326 net) in northwestern Louisiana with 300 identified drilling locations. Cubic president and chief executive Calvin Wallen III says, "The company has reached the natural point in its development where it needs to explore all options. Everyone needs to understand that this is not a product of the market or global financial conditions, but an effort of management to better serve its shareholders. Despite some of the economic conditions currently existing, the interest in the assets of the company grows ever stronger." Contact Scott Richardson, 713-585-3300.