PRESS RELEASE

CUBIC ENERGY, INC.
QBIK:OTC:BB

For Immediate Release:
August 12, 2003

Information: (972) 686-0369
E-mail: ir@cubicenergyinc.com


Cubic Energy Inc. is Named One of the Largest Metroplex Public Companies

Dallas, Texas, August 12, 2003 – Cubic Energy, Inc. (“Cubic”) announced today that it has been named one of the Largest Metroplex Public Companies in the Dallas Fort Worth area by the Dallas Business Journal. Cubic was one of only 200 companies chosen for this award. The companies were ranked by net sales for the most recent fiscal year. Some of the companies named were Exxon Mobil Corp., TXU Corp. and Perot Systems Corp.. The article is available in the July 2003 edition of the Dallas Business Journal or online at dallas.bizjournals.com. The award is viewable on Cubic’s home page at www.cubicenergyinc.com

If you wish to request additional information regarding Cubic Energy, Inc., please call our Shareholder Relations department at (972) 686-0369 or email us at ir@cubicenergyinc.com


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 companies undertake no obligation to update these statements for revision or changes after the date of this release.