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| QBC > SEC Filings for QBC > Form 8-K on 20-Jun-2012 | All Recent SEC Filings |
20-Jun-2012
Entry into a Material Definitive Agreement, Other Events, Financial Statements a
On June 18, 2012, Cubic Energy, Inc. (the "Company") entered into a Fourth Amendment to Credit Agreement (the "Fourth Amendment") with Wells Fargo Energy Capital, Inc. providing for, among other things, an extension of the required repayment date to December 31, 2012. The Fourth Amendment also provides that the borrowing base under the Company's revolving credit facility with Wells Fargo Energy Capital, Inc. shall be reduced by seventy-five percent (75%) of the total amount of cash or other readily available funds received by the Company as part of the arbitration award in connection with the arbitration involving the Company, EXCO Operating Company, L.P. and BG US Production Company LLC. The Fourth Amendment also limits the Company's ability to pay certain general and administrative expenses and to make certain dividends on its capital stock.
On June 20, 2012, the Company issued a press release announcing that it had entered into the Fourth Amendment. A copy of the press release is filed herewith as Exhibit 99.1.
(d) Exhibits.
10.1 Fourth Amendment to Credit Agreement, dated June 18, 2012, by and
between Cubic Energy, Inc. and Wells Fargo Energy Capital, Inc.
10.2 Convertible Promissory Note, dated as of June 18, 2012, by Cubic
Energy, Inc. payable to Wells Fargo Energy Capital, Inc. in the
principal amount of $5,000,000
10.3 Promissory Note, dated as of June 18, 2012, by Cubic Energy, Inc.
payable to Wells Fargo Energy Capital, Inc. in the maximum principal
amount of $40,000,000
99.1 Press release, dated June 20, 2012
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