Wednesday, January 28, 2009

Haynesville Shale: Caddo Parish, Louisiana - Cubic Energy

Today, 1/28/09, Cubic Energy ( QBC ) has come out and given an updates on an additional well being drilled in the Haynesville Shale. This well is located in Caddo Parish, LA.

Cubic Energy (QBC) announces today it has accepted a proposal to participate in the horizontal drilling of Chesapeake Energy's ( CHK ) Clingman Acres 11H well. This well is located in the Johnson Branch Field of Caddo Parish, Louisiana, and will be horizontally drilled to a measured depth of 17,000 feet, followed by a Haynesville Shale completion.

The Clingman Acres 11H is located in Section 11, Township 15 North - Range 15 West in Caddo Parish, Louisiana, which is adjacent to the east side of Cubic's Johnson Branch Acreage. Cubic has an estimated 2.8% working interest in the well.

Cubic currently has 12 wells producing in its Johnson Branch acreage, and 10 wells producing in its more southern acreage position of Bethany Longstreet in DeSoto Parish, Louisiana.
Calvin Wallen III, Cubic's President and Chief Executive Officer stated, ``The Clingman Acres 11H will be located on the eastern edge of Cubic's Johnson Branch Acreage. This area has been proven, through Cubic's vertical drilling and Chesapeake's horizontal drilling, to be extremely prolific in the Haynesville Shale. We are very excited to have yet another opportunity for Horizontal Haynesville Shale development.''

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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