Caddo Parish, LA: Haynesville Shale Update

By Andrea: http://oilshalegas.com

August 16, 2010: Cubic Energy Inc. (QBC) announced the drilling of their third well today in the Haynesville Shale, located in Caddo Parish, Louisiana:

Cubic energy Inc. (QBC) announces today that the Crow 8 No. 1 spud on August 10, 2010 and surface casing was set at 1,925 feet on August 11, 2010. The Crow 8 No. 1 is currently drilling its vertical portion of the well. This well is located in Section 8, Township 14 North ñ Range 15 West in Caddo Parish, Louisiana located in Cubicís Bethany Longstreet acreage. Cubic has a 24% working interest in this well.

Richard Sepulvado, Cubicís Vice President of Exploration and Production states, "This is the third well to be drilled under our existing drilling credit and we look forward to continued development of our Haynesville Shale acreage."

Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Companyís oil and gas assets and activity are concentrated primarily in Louisiana and Texas.

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Haynesville Shale Drilling to Increase in 2010

Natural Gas prices have been slowly creeping up in December 2009. The higher prices have been associated with the colder weather that has been hitting the northeast. Natural Gas inventories have been very weak as a result of this.

Comstock Resources Inc. (CRK) announced two weeks ago that they will be increasing their drilling budget in the Haynesville Shale for 2010. With Natural Gas currently around $5.75, I am expecting $7-$8 natural gas in 2010. Comstock has acreage in Desoto Parish Louisiana and East Texas.


Comstock Resources, Inc. Announces 2010 Exploration and Development Budget

Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) announced that it plans to spend approximately $385.0 million in 2010 for development and exploration activities. Comstock expects to add an additional drilling rig in the second quarter of 2010 to the six rigs which the Company is currently utilizing in its Haynesville shale drilling program.

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