Cubic Energy, Inc. (Cubic) is an energy company engaged in the development, production and exploration of crude oil, natural gas and natural gas liquids. The Company’s oil and gas assets are in Texas and Louisiana. Its Texas properties are situated in Palo Pinto, Eastland and Callahan Counties. Louisiana properties are situated in Caddo Parish and in DeSoto Parish. The Company’s net production for the fiscal year ended June 30, 2009 (fiscal 2009) for all of the Company’s wells averaged approximately 766 million cubic feet (Mcf) of natural gas per day, 5 barrels of oil per day (BOPD) and 213 gallons of natural gas liquids per day as compared to approximately 624 Mcf of natural gas per day, 5 barrels of oil per day and 122 gallons of natural gas liquids per day in the fiscal year ended June 30, 2008 (fiscal 2008).