On June 8, 2012, the annual meeting of shareholders of Cubic Energy, Inc. (the "Company") was held. Six directors were elected to serve until the Company's next annual meeting and until their respective successors have been elected and qualified. The vote for such directors was as follows:

Nominee                 Votes For    Votes Withheld   Broker Non-Votes
Calvin A. Wallen, III   23,130,310     17,338,450        30,453,489
Gene C. Howard          23,130,296     17,338,464        30,453,489
Bob L. Clements         23,127,396     17,341,364        30,453,489
Jon S. Ross             23,110,130     17,358,630        30,453,489
David B. Brown          22,660,206     17,808,554        30,453,489
Paul R. Ferretti        22,880,396     17,588,364        30,453,489

In addition, the shareholders approved an amendment to the Company's Amended and Restated Certificate of Formation to increase the authorized number of shares of common stock from 120,000,000 to 200,000,000, by the following vote:

Votes For Votes Against Votes Abstained Broker Non-Votes 67,301,424 3,503,706 117,119 -0-

Finally, the shareholders ratified the appointment of Philip Vogel & Co., PC as the Company's independent registered public accountant for the Company's fiscal year ending June 30, 2012, by the following vote:

Votes For Votes Against Votes Abstained Broker Non-Votes 46,690,133 24,199,170 32,946 -0-