Cubic Energy, Inc. Announces Engagement of Wells Fargo Securities, LLC

Press Release: Cubic Energy, Inc. – 11 minutes ago
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DALLAS, May 14, 2012 (GLOBE NEWSWIRE) -- Cubic Energy, Inc. (NYSE Amex:QBC) ("Cubic" or the "Company") announces that the Company has engaged Wells Fargo Securities, LLC ("Wells Fargo Securities") to serve as the exclusive financial advisor of the Company to explore certain strategic alternatives on behalf of the Company and its shareholders, including a merger, consolidation, business combination, or a disposition of the Company or a substantial portion of its assets.

Calvin Wallen III, CEO and Chairman of the Board commented, "Our engagement with Wells Fargo Securities is a significant first step in pursuing various strategic options that can enable us to reposition the Company and shareholder value in a stronger financial structure going forward. The Wells Fargo Securities group is a highly respected and experienced M&A franchise with a proven track record and we welcome the partnership."

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 the Haynesville Shale Play located in Northwest Louisiana. Additional information can be found on Cubic's website at: www.cubicenergyinc.com.