Cubic Energy, Inc. Receives a Six Month Extension of the Due Date of Its Wells Fargo Energy Capital Debt
Cubic Energy, Inc. (NYSE: QBC) announces that it received an extension until December 31, 2012 as to the due date of its Wells Fargo Energy Capital, Inc. debt. In the extension, the borrowing base under the Company's revolving credit facility with WFEC shall be reduced by seventy-five percent (75%) of the total amount of cash or other readily available funds received by the Company as part of the arbitration award involving EXCO Operating Company, L.P. and BG US Production Company LLC.
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