PRESS RELEASE

NASDAQ: OTC:BB/QBIK

CUBIC ENERGY INC. ENGAGES C. K. COOPER & COMPANY

Dallas, Texas, August 19 - Cubic Energy, Inc. (OTCBB: QBIK) announced today that it has engaged C. K. Cooper & Company, Inc. of Irvine, California, to provide investment banking services on behalf of the Company related to the evaluation of its exploration assets and the further growth of the Company to enhance shareholder value. C. K. Cooper & Company may also advise and assist Cubic Energy with potential mergers and acquisitions or in evaluating or raising capital for the development of its properties.

C. K. Cooper & Company, headquartered in Irvine, California, is a full service investment-banking firm with a solid research presence following "Micro-Cap" oil and natural gas producers within the United States. The firm has advised or raised capital in excess of $300 million for smaller exploration and production issues in the past eighteen (18) months. The firm is well recognized for its quality research product and investment banking services, through dedicated personnel in its investment banking, investment research and institutional sales and trading activities.

"We are very pleased to have the C. K. Cooper & Company team join us," stated Calvin Wallen III, President of Cubic Energy, Inc. "C. K. Cooper & Company understands our business and the potential value present within our extensive exploration portfolio. We anticipate that their assistance will be critical in transferring this value into our share price through effective monetization of this potential asset base. I look forward to a long and mutually beneficial relationship with C. K. Cooper & Company," concluded Mr. Wallen.

ABOUT CUBIC ENERGY, INC.

Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. Our oil and gas assets and activity are concentrated primarily in Texas, Louisiana and New Mexico. Our principal executive office is located at 1720 Northwest Highway, Suite 320, Garland, Texas 75041, and our telephone number is (972) 686-0369.
We are currently pursuing additional opportunities in areas where we have a high concentration of activity. These efforts are part of advanced geologic studies utilizing 2-D and 3-D seismic data, AVO analysis and/or vast sub-surface control databases. Prospects have been developed from 4,000-17,500

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.