Wednesday, September 1, 2010

Caddo Parish, LA : Haynesville Shale Update

By Andrea:

Cubic Energy Inc. (QBC) announced today that they spud their 4th horizontal well today in the Haynesville shale:

Cubic Energy Inc. (QBC) announced that the Red Oak Timber 7-1 ALT spud on August 6, 2010 with surface casing set at 1,903 feet. This well is located in Section 7, Township 14 North Range 15 West in Caddo Parish, Louisiana located in Cubic s Bethany Longstreet acreage. Cubic has an estimated 29% working interest in this well.

Calvin Wallen III, Cubic’s CEO and President, stated, "This is Cubic’s fourth Horizontal Haynesville Shale well to be drilled under our existing drilling credit and the sixteenth Horizontal Haynesville Shale well in which Cubic has a working interest."

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 Louisiana and Texas.

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