DALLAS, Feb. 14, 2005 (PRIMEZONE) -- Cubic Energy, Inc. (OTCBB:QBIK) announced today that it has recently completed the Taylor Sand of the Cotton Valley in the Moseley 26 No. 1 well in DeSoto Parish, Louisiana. The well was successfully fracture treated by Schlumberger and is currently cleaning up and flowing back. A test will be run on the well later this month.
This is the third well for Cubic in its 8 section land position and in which the Company owns a 25% working interest.
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 Alabama, Texas, Louisiana and New Mexico.
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital for development of mineral projects and other projects, acceptance of the Companies' products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Companies' periodic report filings with the "Securities and Exchange Commission". By making these forward-looking statements, the companies undertake no obligation to update these statements for revision or changes after the date of this release.
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