Cubic Energy Inc.

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Richard M. Sepulvado accepted the position of Executive Vice President of Exploration and Production for Cubic Energy, Inc. on February 1, 2005. He received his undergraduate training at Trinity University, earning his Bachelor's degree in geology in 1974. Mr. Sepulvado spent the following eight years developing strong management and engineering skills as an officer in the U.S. Army Corps of Engineers. Following his tour of duty, he returned to school and earned his Master of Science degree in geology at Louisiana Tech University in 1985. Mr. Sepulvado has worked as an exploration geologist for Mobil Oil, Placid Oil, Phillips Oil, and various independent oil companies. While working at Sugar Creek Producing Company in Shreveport, Louisiana, Mr. Sepulvado's efforts were responsible for the discovery of West Benson Field as well as extensions to several producing fields. While employed at Tauren Exploration, Inc. in Dallas, he was responsible for the discovery of Tauren (Caddo, Upper) Field as well as extensions to various producing fields in District 7B. Mr. Sepulvado has over 20 years of full-time and consulting experience and is knowledgeable in many carbonate and clastic reservoirs in Alabama, Arkansas, Louisiana, New Mexico, and Texas. Mr. Sepulvado is an Active Member of the American Association of Petroleum Geologists (1989) and is a Certified Petroleum Geologist (CPG#5648). He is a Registered Geologist in the State of Missouri (License #0495) and is an active member of the Dallas Geological Society and the East Texas Geological Society.

WILLIAM L. BRUGGEMAN, JR. is the founder and controlling shareholder of Diversified Dynamics Corporation (founded in 1968) and its business divisions: Cat Pumps, a manufacturer of quality, industrial, positive displacement, triplex piston and plunger pumps and custom engineered pumping systems with over 40 years of experience in industrial high pressure systems; and HomeRight, a manufacturer of home improvement products. He is an entrepreneur and angel investor who has been involved in many successful start up businesses. He has been a significant investor in the oil and gas industries since the early 1990s. He continues to be a major shareholder of Cubic Energy, Inc. Mr. Bruggeman s former employers include McCullough Corporation, John Deere, L & A Products, and Minneapolis Moline. Mr. Bruggeman is a veteran who served thirty months in the U.S. Navy in World War II and one year in the U.S. Marine Corp in Korea. He has been a pilot for small engine planes and jets, for 62 years. Mr. Bruggeman graduated from Hamline University with a degree in Engineering.

Mr. Gene Howard is the Senior Partner of the law firm of Howard, Widdows & Bufogle, P.C. of Tulsa, Oklahoma and has been engaged primarily in the private practice of law over the past thirty-five years. Mr. Howard served in the Oklahoma State Senate from 1964 through 1982 and was the President Pro Tem from 1975 through 1981. In addition, he served as the Chairman of the Board of the Farmers and Exchange Bank from 1972 through 1991 and on the Board of Directors of the Local Federal Bank of Oklahoma. Mr. Howard is a Director of the Oklahoma State Education and Employment Group Insurance Board and presently acts as Chairman. Mr. Howard served as Director of EntreCap and Hinderliter Corporations from 1991 to August of 1992. He is also Chairman of the Board of Philadelphia Mortgage Trust ("PMT").

Mr. Jon S. Ross has served as the Secretary and as a director of Cubic Energy since April 1998. Mr. Ross is a practicing attorney in Dallas, Texas specializing in the presentation of over fifty corporate entities within the past nine years. He has served on several community and non-profit committees and Boards and has been asked to speak to corporate and civic leaders on a variety of corporate law topics. Mr. Ross graduated from St. Mark's School of Texas with honors in 1982 and graduated from the University of Texas at Austin in 1986 with a B.B.A. in Accounting. He then graduated from the University of Texas School of Law in 1989 attaining a Juris Doctorate degree.

PHYLLIS K. HARDING has worked as an executive advisor for Diversified Dynamics Corporation, a privately held corporation controlled by William L. Bruggeman, Jr., since 1990. From 2001 through 2008 she served on the Board of Directors of Dayport, a leader in video publishing, content, workflow and syndication solutions. Dayport was acquired by EntriQ in 2008. From 2001 to the present time she has served on the Board of Advisors of Geospan Corporation and Geospan.com, privately held industry leaders in spatial imaging and visual mapping solutions. She has worked with numerous corporations in various industries as the head of the consulting division for Grant Thornton LLP in Minneapolis from 1987 through 1988 and as a co-owner of Camelot Consultants, Inc. from 1989 through 1999. Ms. Harding has three decades of operational, manufacturing, turn-around and strategic leadership experience with various clients and direct employment at The Valspar Corporation (1986 through 1987) and Procter & Gamble (1975 through 1986). She is a graduate of the University of Wisconsin Green Bay.