DALLAS, April 16, 2007 (PRIME NEWSWIRE) -- Cubic Energy, Inc. (OTCBB:QBIK) ("Cubic" or the "Company") announces today that location has been staked for its 8th Cotton Valley well. After the Company has completed drilling on the Rushing 18 No. 1, the Company will then move forward with drilling on the J H Estes 8 No. 1.
The J H Estes 8 No. 1 is permitted to a total depth of 10,500 feet. This well is contiguous to our acreage where we have drilled previous wells but the company has a greater working interest (35%) in this well. We will be drilling for the Upper Hosston, Lower Hosston, and Cotton Valley gas sands, along with other potential shallow pays all of which have been encountered in the previous wells drilled by Cubic.
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
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 Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned.