Cubic Energy Announces Settlement With EXCO/BG

Cubic Energy, Inc. QBC ("Cubic" or the "Company") announces today that it has reached a settlement with EXCO Operating Company, LP and BG US Production Company, LLC. Later today, the Company will be filing with the SEC a Current Report on Form 8-K. 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 and Cotton Valley Sands located in Northwest Louisiana. Additional information can be found on Cubic's website at:  www.cubicenergyinc.com.