Cubic Energy finds gas in Louisiana

Cubic Energy, Inc. announces results of three new wells delineating large impact reserves in the Cotton Valley interval. Preliminary log analysis performed by The Scotia Group, Inc. for the three wells drilled in Cubic’s Johnson Branch acreage (T15N R15W) of Caddo Parish, Louisiana, has determined the following results:

The Tabor 4-1 well drilled to a total depth of 10,550’ and logged 163 feet of net pay in the Cotton Valley between depths of 8,901’-9,798’. The McDonnell 8-1 drilled to a total depth of 10,500’ and logged 142 feet of net pay in the Cotton Valley between depths of 8,907’-9,803’. The Luttrell 7-1 drilled to a total depth of 10,522’ and logged 113 feet of net pay in the Cotton Valley between depths of 8,880’-9,648’. The aggregate net pay thickness in the three wells is 418 feet.

Cubic’s aforementioned wells are located 5 miles southeast of the Nelson Oil and Gas Alfred #1 which completed in 1989 and since that time has produced 4.2 Bcf of gas and 75,000 barrels of condensate from 112 feet of perforations in the Cotton Valley (8,552’-8,664’).

Seven miles to the south in the Bethany Longstreet acreage, Cubic has drilled a total of 8 wells and is currently producing approximately 4000 Mcf per day from the Cotton Valley in 5 wells and from the Hosston in 5 wells. Work is ongoing at the Bethany Longstreet acreage to complete and fracture stimulate additional zones and to install gas lift and compression to significantly increase the average daily production from this area. Cubic has a 25% working interest in these producing wells.