PRESS RELEASE

For Immediate Release: November 2, 2005
Website: www.cubicenergyinc.com
E-mail: admin@cubicenergyinc.com

Information:

CUBIC ENERGY, INC. INITIATES RE-COMPLETIONS

DALLAS, TX – November 2, 2005 - Cubic Energy, Inc., (NASDAQ:OTC:BB:QBIK) announced today that it will initiate additional completion work for behind pipe reserves in the Moseley 25#1 well and the Moseley 26#1 well in the Bethany Longstreet Field, DeSoto Parish, Louisiana.

Calvin A. Wallen III, President and CEO of Cubic Energy, Inc., stated, “We anticipate that these additional completions in the Cotton Valley formation will increase PDP reserves and daily production.”

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 Texas and Louisiana.

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.