DALLAS, Oct. 10, 2008 (GLOBE NEWSWIRE) -- Cubic Energy, Inc. (AMEX:QBC - News) (``Cubic'' or the ``Company'') announces today that it has appointed Larry Badgley as the Company's new Chief Financial Officer effective Monday, October 13, 2008. This announcement is supplemental information to our Form 8-K filed with the Securities and Exchange Commission on October 9, 2008.

Mr. Badgley has worked for Cubic since August 2008, as a consultant. Prior to joining Cubic Energy, Inc., Mr. Badgley worked over 11 years in the venture capital market and has been responsible for Financial Planning and Analysis, SEC, SOX technical training and practice development, and served as the national practice leader for merger and acquisitions with a heavy focus on due diligence and post acquisition integration. Mr. Badgley was also instrumental in National Energy Group's initial public offering and S-1 filing. Larry Badgley received a BBA in Finance from Hardin-Simmons University in 1978, and is a certified public accountant.

Mr. Badgley's predecessor, Scott Guffey, was hired in August 2007 and was instrumental in both Cubic's move to the American Stock Exchange and in implementation of SOX 404(a) compliance. Mr. Guffey will continue to serve Cubic as a consultant.

Calvin A. Wallen, CEO and President of Cubic states, ``Larry has over 11 years of experience in the oil and gas industry. We are confident that he has the ability to be an important contributor to our business pursuits.''

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.

The Cubic Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1243

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, dependency on pipelines in which to sell the Company's natural gas it produces, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic can not guarantee any level of production from its wells.

          Cubic Energy, Inc. 
          Investor Relations
          Donna Luedtke
          (972) 686-0369
          donna@cubicenergyinc.com
          www.cubicenergyinc.com