Haynesville Shale - Cubic Energy Update QBIK

Cubic Energy has reached total depth of 11,950 feet on its Estes 7 No. 1. 7 5/8” casing was set at 10,208 feet and 4 ½” liner was set at 11,950 feet. The Estes 7 No. 1 is Cubic’s fourth Haynesville Shale well in its northwest Louisiana acreage. With the 7 5/8” casing, the Company will be able to drill horizontally in the Haynesville Shale at a later date, after being vertically completed in the Haynesville Shale. The Estes 7 No. 1 is Cubic’s first Haynesville Shale well to be drilled in the Company’s southern acreage position of Bethany Longstreet.
Log analysis identified Pettit, Cotton Valley and Hosston zones in addition to two Shale zones in the Estes 7 No. 1 The lower Shale zone is located between 11,420 feet and 11,890 feet in depth and calculates an estimated 186 BCF of Total Shale Gas and 173 BCF of Free Shale Gas per square mile of reservoir. The upper Shale zone is located between 10,730 feet and 11,150 feet in depth and calculates an estimated 100 BCF of Total Shale Gas and 93 BCF of Free Shale Gas per square mile of reservoir. This is comparable to the Free Shale Gas in the Company’s Johnson Branch acreage.
Immediately following the drilling of the Estes 7 No. 1, the Company will rig down and move to the Red Oak Timber 5 No. 1 also located in Cubic’s southern acreage of Bethany Longstreet. The Company will vertically drill to the Haynesville Shale at approximately 11,950 feet and will use the same casing program as used on the Estes 7 No. 1. Cubic has a 35% working interest in the Estes 7 No. 1 and the Red Oak Timber 5 No. 1.
The Company also announced the last of its pipeline construction in Cubic’s northern acreage of Johnson Branch should be finished in the next few weeks. Additionally, the Company has scheduled completions for the last of the wells in this area. Cubic has a 49% working interest in the Johnson Branch acreage.
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.

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