Cubic Energy, Inc. Announces Receipt of Additional Extension of Time From Wells Fargo...

Cubic Energy, Inc. Announces Receipt of Additional Extension of Time From Wells
Fargo Energy Capital

DALLAS, Oct. 29, 2009 (GLOBE NEWSWIRE) -- Cubic Energy, Inc. (NYSE Amex:QBC)
("Cubic" or the "Company") announces the Company has received an additional
extension of time until December 1, 2009 from Wells Fargo Energy Capital, Inc.
(the "Lender") to comply with the terms of that letter dated June 30, 2009. That
June 30, 2009 letter informed the Company that the Lender made a borrowing base
redetermination and waived any failure of the Company to comply with its
obligations under the Credit Agreement as a result of such redetermination until
September 1, 2009, first extended to October 1, 2009 and extended thereafter to
November 1, 2009.

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 the Haynesville Shale
Play located in Northwest Louisiana. Additional information can be found on
Cubic's website at: www.cubicenergyinc.com.

The Cubic Energy logo is available at
http://www.globenewswire.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, the
availability of capital for development of mineral projects and other projects,
dependency on pipelines in which to sell the Company's natural gas it produces,
reliance on third party contractors to aid in developing the production
infrastructure and in the performance of well completion work, and other risks
detailed in the Company's 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. Cubic can not guarantee any level of production from its wells.

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CONTACT: Cubic Energy, Inc.
Investor Relations
Donna Luedtke
(972) 686-0369
donna@cubicenergyinc.com
www.cubicenergyinc.com