DALLAS, Sept. 5, 2006 (PRIMEZONE) -- Cubic Energy, Inc. (OTCBB:QBIK) ("Cubic" or the "Company") announced today the successful drilling of the S.E. Johnson 19 No. 1, the Company's 6th Cotton Valley well in the Company's Bethany Longstreet field. Preliminary well log analysis has identified numerous gas pay sands in the Cotton Valley and Upper and Lower Hosston formations. Casing has now been set and the Company is designing and planning completion operations. Cubic has a 25% working interest in the S.E. Johnson 19 No. 1 well.
Calvin A. Wallen III, CEO of Cubic Energy, Inc., stated, "Based on the review of the well logs and other data, the S.E. Johnson 19 No. 1 appears to be the best well we have drilled to date. This well, like the others before it, continues to prove our acreage position to be the kind of development opportunity that can add significant value to the Company and establish prolific reserves. We are very excited about our position in this play and our ongoing development opportunities."
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 Texas and Louisiana.
The Cubic Energy logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1243