PRESS RELEASE

Date: November 19, 2007
Website: www.cubicenergyinc.com
E-mail: donna@cubicenergyinc.com

Information:

Cubic Energy, Inc. Accelerates New Drilling And Completion Work In Its Johnson Branch Acreage

DALLAS, TX -- Cubic Energy, Inc. (OTCBB:QBIK) ("Cubic" or the "Company") announces today the acceleration of new drilling and completion work in its Johnson Branch acreage.  Financed through its credit facility with Wells Fargo Energy Capital, Cubic plans to drill four new wells through the Cotton Valley formation in its Johnson Branch acreage in the next sixty days, with one well going deeper through the Bossier/Haynesville formation.

In addition, Cubic plans to immediately commence completion operations on up to eight wells in its Johnson Branch acreage, all drilled to total depth since the summer.  Cubic is finishing its infrastructure in Johnson Branch with approximately 12 miles of gathering lines and pipeline constructed for these completions.  Cubic has a 49% working interest in its Johnson Branch acreage.

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. There can be no assurance that the transactions discussed in this press release will be consummated.