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Have nor seen any numbers to know yet.....have you.?
Maybe , I really thought with the area they are in this would have done better than it has
Do you think Calvin is getting close to reporting some
production #'s ?
Need some eyes on this again.
Anyone go to the Dallas mtg. on June 6th ?
Giving notice to shareholders that they are taking a vote to authorize increasing the number of authorized shares by 100%.
About time for some News from the Team in TX. ?!
Quicksilver Resources Inc. (NYSE:KWK) announced that Scott Pinsonnault has been elected to its board of directors effective April 14, 2014. Pinsonnault, 43, is currently the Chief Financial Officer of Cubic Energy, Inc. in Dallas, Texas. He has over 17 years of experience in the energy sector, including through previously held roles with Deloitte Financial Advisory Services, SFC Energy Partners, Bridge Associates, LLC, and UniCredit Bank, A.G.
Waiting on something they can Report right now.
Get-er done guys !
GL all
Hawk
anybody out there?? anybody hearing anything?? I sent an email today, waiting a reply???
Prices are now at level to help.
Hope to see some PR's soon from TX.
Drill baby !
i sure hope so....i have been in this stock way too long and would sure like to finally make some cash....
Going to see some Action this Q ?!
Keep an eye on here.......JMO
New 8-k out. Any thoughts on details ??
Well now that the deal is finalizes how high do you think this will go? How many days in a row can we go up multiple pennies?
CBNR @ .45 slowly goin higher each day now
Can someone explain the Warrants/value and other details please.
A lot here.....
Cubic Energy, Inc. Announces the Closing of the Acquisition of the Gastar East Texas Assets, the Closing of an Additional Acquisition for Complementary East Texas Assets, the Procurement of Approximately $101,000,000 of New Financing, and the Partial Extinguishment and Re-Structuring of Pre-Existing Financing GlobeNewswire "Press Releases"
DALLAS , Oct. 2, 2013 (GLOBE NEWSWIRE) -- Cubic Energy, Inc. (OTCQB:CBNR) ("Cubic" or the "Company" or the "Buyer") announced today that it has closed and funded the previously announced acquisition of all of the East Texas assets of Gastar Exploration, Texas, LP ("Gastar"), paying to Gastar a net purchase price cash balance of $39,188,830 . The Company also announced that it has closed on an additional transaction to acquire a minority working interest position in leases, and their associated well bore and infrastructure interests, in the same properties the Company has acquired from Gastar, for $19,400,000 from a third-party. This additional acquisition includes approximately 6,400 net acres in Leon and Robertson Counties, Texas . The Company also has closed on the acquisition of Northwest Louisiana assets from Tauren Exploration, Inc. ("Tauren"), an affiliate of the Company's CEO, Calvin Wallen III ("Wallen"), which includes approximately 5,600 net acres, well bores, infrastructure and production. As consideration for the acquisition of these Tauren assets, the Company is paying $4,000,000 in cash and delivering 2,000 shares of a new Series B Convertible Preferred Stock with a stated value of $1,000 per share ("Series B"). The Series B is entitled to dividends at a rate of 9.5% per annum and, subject to certain limitations, is convertible into the Company's common stock at a conversion rate of $0.50 per common share.
The purchased assets in aggregate are being contributed to Cubic Asset, LLC , a wholly owned subsidiary of Cubic Asset Holding, LLC . Cubic Asset Holding, LLC is a wholly owned subsidiary of the Company. The Company's legacy assets are being contributed to Cubic Louisiana, LLC , a wholly owned subsidiary of Cubic Louisiana Holding, LLC . Cubic Louisiana Holding, LLC is a wholly owned subsidiary of the Company.
To fund some of the above acquisitions, the Company has entered into financing transactions with funding parties ("Lenders"), collectively, for $66,000,000 in cash. As consideration for funding this $66,000,000 , (i). the Company has issued notes payable to the Lenders, paying interest at a rate of 15.5% per annum with 8.5% of the interest to be paid in kind for the first six months of the Lenders' financing, with those notes maturing in thirty six months, (ii) the Company has issued two classes of warrants to the Lenders (and certain affiliates of the Lenders) (collectively, the "Investors"), one issued for the right to purchase an aggregate of 30% of the common stock of the Company on a fully diluted basis, at an exercise price of $0.01 per common share, and another for the right to purchase an aggregate of an additional 15% of the common stock of the Company on a fully diluted basis, at an exercise price of $0.50 per common share. Both series of warrants expire on October 2, 2019 . The Investors will have immediate voting rights equal to the voting power, in the aggregate, of the common shares underlying each class of warrants, as a result of the issuance by the Company of a new class of Series C Voting Preferred Stock with nominal economic rights. All of the assets of Cubic Asset, LLC are being pledged as collateral for the notes, with the Lenders having a first lien position on the assets of Cubic Asset, LLC , its parent Cubic Asset Holding, LLC and assets of the Company. The Lenders will also have a second lien position on the assets of Cubic Louisiana, LLC and its parent, Cubic Louisiana Holding, LLC . Imperial Capital, LLC served as financial advisor to the Company in connection with the financing transactions.
The Company, through its subsidiary Cubic Asset, LLC , has also entered into a Call Option Structured Derivative payment with a third party that will result in an upfront payment at closing of approximately $35,000,000 . In addition, this third party has entered into agreements with Cubic Asset, LLC and Cubic Louisiana, LLC contemplating the hedging of hydrocarbons. This third party will have a junior lien position on both the assets of Cubic Asset, LLC and Cubic Louisiana, LLC .
Wells Fargo Energy Capital, Inc. ("WFEC"), the pre-existing senior lender of the Company, is receiving $5,000,000 at closing to extinguish the pre-existing Convertible Term Note originally issued by the Company to WFEC in 2007. Further, Cubic Louisiana, LLC and WFEC are entering into a new credit facility arrangement in which the balance under the pre-existing revolving note of $20,865,110 is being transformed into a term note, with interest being charged at the prime rate plus 2% and maturing in thirty six months; and, for the development of the Cubic Louisiana, LLC assets and upon certain other conditions, WFEC has agreed to extend up to $10,000,000 , in the sole discretion of WFEC, in a revolving credit line to Cubic Louisiana, LLC , with such revolving credit line bearing interest at the prime rate plus 2% and maturing in thirty-six months.All of the assets of Cubic Louisiana, LLC are being pledged as collateral, and WFEC will have the first lien position on the Cubic Louisiana, LLC assets.
As noted above, Tauren is receiving 2,000 shares of Series B related to the sale of Northwest Louisiana assets to Cubic Asset, LLC . Wallen has converted his pre-existing subordinate note due of $2,000,000 , plus $114,986 in accrued interest into 2,115 shares of Series B, and another Wallen affiliate, Langtry Mineral & Development, LLC , is converting its pre-existing Series A Convertible Preferred Stock into 12,047 shares of Series B.
The Investors also have entered into a Voting Agreement with Wallen, pursuant to which the parties to that agreement have agreed to vote for the election of three Directors nominated by the Investors and certain other matters.
Calvin Wallen III , commenting on the transactions and financing, said, "These acquisitions immediately improve Cubic Energy's financial structure by providing the Company with an improved asset base and exposure to the potential of higher liquids production in the future, and give management the opportunity to provide steady growth in shareholder value. The Company's board of directors and management have worked diligently for over two years to create this strategic diversity that focuses on growth in the short-term and long-term. With the help of our new financing partners, WFEC and others, management has forged a strong financial and operational relationship. We appreciate the patience and understanding on the part of our shareholders and those that stood with the company through this time."
Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. Prior to the foregoing acquisitions, the Company's oil and gas assets and activity were concentrated primarily in the Cotton Valley and Haynesville Shale Play located in Northwest Louisiana . Additional information can be found on Cubic's website at:
www.cubicenergyinc.com.
If you would like to be added to Cubic's email distribution list, please email your name and email address to Donna Luedtke , Investor Relations at donna@cubicenergyinc.com. This email distribution list is notified of all news events (including press releases and scheduled investor conference calls).
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "intend", "estimate"', "project"', "expect", or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in oil and natural gas prices, the ability to close the purchase of desirable oil and/or natural gas assets, the availability of capital for development of mineral projects and other projects, the availability of capital to satisfy debt obligations, dependency on pipelines in which to sell the Company's natural gas it produces, reliance on third party operators for wells in which the Company maintains a working interest, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission . By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic cannot guarantee the timing of the drilling or any level of production from its wells.
CONTACT: Donna Luedtke Investor Relations Email: donna@cubicenergyinc.com Website: www.cubicenergyinc.com Phone: (972) 686-0369
Source: Cubic Energy, Inc.
sure does...been saying that a long time
Anticipation of a deal closing soon I suspect, Had news just the other day as well. This play just has not really been seen yet that much
CBNR @ .42 now
Agreed, the chart looks great.
chart is sweet..if they sell their property today look out
CBNR @ .39 now I hope it can see Half my other Oil play price
been here for a while...chart says it all..tiny SS
ll that I do not know, Oil companies never hurry about anything. I am not sure that a lower entry level will not present itself soon if the Company doesnt stop these extensions
Will this deal get Done any time soon ??!!!
Hawk
CBNR
Contact Info
9870 Plano Road
Dallas, TX 75238
Website: http://www.cubicenergyinc.com
Phone: 972-686-0369
CBNR last News
Cubic Energy, Inc. Obtains Commitments for Up to $107MM of Financing for Acquisition of East Texas Assets
DALLAS, Aug 30, 2013 (GLOBE NEWSWIRE via COMTEX) -- Cubic Energy, Inc. (OTCQB:CBNR) ("Cubic" or the "Company" or the "Buyer") announces today that the Company obtains non-binding commitments for up to $107,000,000 of financing. Such financing is subject to satisfactory diligence and documentation at the potential investors' discretion, and the closing of an additional acquisition. This financing is intended for the acquisition of the Gastar Exploration Texas, LP ("Gastar") East Texas properties, drilling and working capital, potential additional acquisitions, and payment toward existing debt.
In consideration of the above, Gastar has agreed to extend the closing date of the purchase of the Gastar East Texas properties until September 20, 2013. In consideration for such extension, Cubic has agreed to increase the purchase price to be paid for the Gastar East Texas assets by One Million Dollars ($1,000,000). This additional payment results in a final purchase price of $47,000,000 for the Gastar East Texas properties.
Once closing occurs, the aggregate amounts previously deposited which equal Four Million Six Hundred Thousand Dollars ($4,600,000.00) will be deducted from the purchase price to be paid at closing resulting in a net amount due of Forty Two Million Four Hundred Thousand Dollars ($42,400,000).
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 currently concentrated primarily in the Cotton Valley and Haynesville Shale Play located in Northwest Louisiana. Additional information can be found on Cubic's website at: www.cubicenergyinc.com.
If you would like to be added to Cubic's email distribution list, please email your name and email address to Donna Luedtke, Investor Relations at donna@cubicenergyinc.com. This email distribution list is notified of all news events (including press releases and scheduled investor conference calls).
CBNR just needs some attention, I was approached recently by a company wanting to lease minerals from me in Walker County Texas, The Eaglebine is there
As the Eaglebine play matures maybe CBNR will mature with it
What is your take on this series of extensions? It looks like to me that their is a problem in the financing. Who would finance this unless there was going to be a lot of equity raised. Does Cal have the resources to put a lot of additional equity into this company?
As of May 8, 2013, the registrant had 77,360,908 shares of common stock, $0.05 par value, outstanding.
we always like when someone gets kicked off a big exchange and goes OTCQB...this one has done well since it started trading on the 17th...lots of accumulation going on in the last 6 months...the daily looks sweet with a possible break coming...very low share structure! 35 break can send this...weekly seems to be pointing towards the 200 day since it above that on the daily...
http://stockcharts.com/h-sc/ui?s=CBNR&p=W&yr=3&mn=0&dy=0&id=p57185738805
http://stockcharts.com/h-sc/ui?s=CBNR&p=D&yr=3&mn=0&dy=0&id=p48418125709
Lucky it is not on the pink sheets. Just my opinion.
QBC delisted from Amex to OTCQB. New ticker CBNR:
http://www.otcbb.com/asp/dailylist_detail.asp?d=07/16/2013&mkt_ctg=NON-OTCBB
Cubic Energy, Inc. Enters Into Another Extension to Close Previously Announced Acquisition of East Texas EagleBine Assets
http://ih.advfn.com/p.php?pid=nmona&article=58206915&symbol=QBC
Date : 06/28/2013 @ 7:30AM
Source : GlobeNewswire Inc.
Cubic Energy, Inc. (NYSE MKT:QBC) ("Cubic" or the "Company") announces today that the closing of the previously announced purchase of Gastar's East Texas properties has been extended to July 12, 2013.
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 currently concentrated primarily in the Cotton Valley and Haynesville Shale Play located in Northwest Louisiana. Additional information can be found on Cubic's website at: www.cubicenergyinc.com.
If you would like to be added to Cubic's email distribution list, please email your name and email address to Donna Luedtke, Investor Relations at donna@cubicenergyinc.com. This email distribution list is notified of all news events (including press releases and scheduled investor conference calls).
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "intend", "estimate"', "project"', "expect"', or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in oil and natural gas prices, the ability to close the purchase of desirable oil and/or natural gas assets, the availability of capital for development of mineral projects and other projects, the availability of capital to satisfy debt obligations, the ability to maintain the listing of the Company's common stock on NYSE MKT, dependency on pipelines in which to sell the Company's natural gas it produces, reliance on third party operators for wells in which the Company maintains a working interest, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic cannot guarantee the timing of the drilling or any level of production from its wells.
CONTACT: Donna Luedtke
Investor Relations
Website: www.cubicenergyinc.com
Phone: (972) 686-0369
Email: donna@cubicenergyinc.com
http://ih.advfn.com/p.php?pid=nmona&article=58206915&symbol=QBC
Cubic Energy, Inc. Enters Into an Extension to Close Previously Announced Acquisition of East Texas EagleBine Assets
Date : 06/05/2013 @ 1:09PM
Source : GlobeNewswire Inc.
Cubic Energy, Inc. Enters Into an Extension to Close Previously Announced Acquisition of East Texas EagleBine Assets
Cubic Energy, Inc. (NYSE MKT:QBC) ("Cubic" or the "Company") announces today that the closing of the previously announced purchase of Gastar's East Texas properties has been extended to June 28, 2013 with a termination date of July 12, 2013 in order to allow additional time to finalize financing for the transaction. As compensation for the extension of the closing date, the parties have agreed to reduce certain identified due diligence negative adjustments to the purchase price by $350,000.
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 currently concentrated primarily in the Cotton Valley and Haynesville Shale Play located in Northwest Louisiana. Additional information can be found on Cubic's website at: www.cubicenergyinc.com.
If you would like to be added to Cubic's email distribution list, please email your name and email address to Donna Luedtke, Investor Relations at donna@cubicenergyinc.com. This email distribution list is notified of all news events (including press releases and scheduled investor conference calls).
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "intend", "estimate"', "project"', "expect"', or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in oil and natural gas prices, the ability to close the purchase of desirable oil and/or natural gas assets, the availability of capital for development of mineral projects and other projects, the availability of capital to satisfy debt obligations, the ability to maintain the listing of the Company's common stock on NYSE MKT, dependency on pipelines in which to sell the Company's natural gas it produces, reliance on third party operators for wells in which the Company maintains a working interest, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic cannot guarantee the timing of the drilling or any level of production from its wells.
CONTACT: Donna Luedtke
Investor Relations
Website: www.cubicenergyinc.com
Phone: (972) 686-0369
Email: donna@cubicenergyinc.com
http://ih.advfn.com/p.php?pid=nmona&article=57866641&symbol=QBC
Completion Report--Isabelle Well # 1H 04/21/2013
Posted by Clint Liles on May 12, 2013 at 3:57pm in Robertson County, TX - Oil & Gas Discussion
Back to Robertson County, TX - Oil & Gas Discussion Discussions
http://webapps.rrc.state.tx.us/CMPL/viewPdfReportFormAction.do?method=cmplW2FormPdf&packetSummaryId=69891
This is what QBC bought in a nutshell. I will mention that QBC did not buy a dry hole area for exploration. There is existing production with proved reserves for starters. Going forward has not been released as far as I know.
"The assets to be sold include approximately 31,800 gross (16,300 net) acres in the Hilltop area of East Texas in Leon and Robertson Counties. For the three months ended December 31, 2012, net production from the Hilltop area averaged approximately 12.4 MMcfe/d. At December 31, 2012, proved reserves attributable to the Hilltop area were approximately 27.4 Bcfe, of which 100% are classified as proved developed and represented approximately 15% of Gastar's total proved reserves."
http://ih.advfn.com/p.php?pid=nmona&article=57269946
Finally, we have Halc?n Resources (NYSE: HK ) , a small company that is worth mentioning here because it is targeting the East Texas section of the Eagle Ford. The company has seven producing wells and 50,000 net acres in the Eaglebine section of the play; it aims to eventually bring that number up to 150,000 acres and drill an additional 15-20 wells this year. Halc?n estimates that its reserves may be in the neighborhood of 350,000-400,000 barrels of oil equivalent, though it is worth mentioning that average production so far has turned out to be 94% oil.
http://www.fool.com/investing/general/2013/05/14/yes-the-eagle-ford-is-really-this-good.aspx
Note: Some major reserves being mentioned in the above article.
Halcon Resources (HK) has a lot of activity in the area of East Texas area of concern.
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http://www.cubicenergyinc.com/home.html
Cubic Energy, Inc. is an independent upstream energy company engaged in the development and production of, and exploration for, crude oil and natural gas. Our oil and gas assets and activity are concentrated primarily in Louisiana and Texas. Our office is located at 9870 Plano Road, Dallas, Texas 75238, and our telephone number is (972) 686-0369.
Cubic's philosophy is synonymous with its name and represents the Company's multi-dimensional focus on the integration of earth sciences, engineering and financial management in oil and gas exploration and development.
The corporate strategy with respect to our asset development efforts was to position the company in a low risk opportunity while building main stream high yield reserves. This was accomplished with the acquisition of our Cotton Valley acreage in northwest Louisiana. Our position in DeSoto and Caddo Parishes, Louisiana not only puts us in a low risk environment with the Cotton Valley formation, but also gives us the potential to discover additional commercial horizons that can add value to the bottom line.
We predicted and have had serendipitous success on our acreage with wells drilled by finding not only the Cotton Valley, but also the Upper and Lower Hosston, Pettet and Rodessa formations. Our internal geologic and engineering efforts have positioned the Company's acreage over subsurface structures which have enhanced our drilling success.
Further, the discovery of the Bossier Shale and Haynesville Shale beneath Cubic's core Louisiana acreage position provides the platform to take the Company to another level. We are excited about the possibilities for our future as we move forward with this resource play and our exploration efforts.
OPERATIONS UPDATE - July 6, 2012
Cubic maintains its acreage position in Northwest Louisiana, and is in the established epicenter of the Haynesville Shale play.
The Company's acreage consists of Cotton Valley and the shallower formation of the Hosston (upper and lower), Pettit, Gloyd, and Mooringsport, and the deeper Bossier Shale and Haynesville Shale formations. Our acreage is located in Caddo and Desoto Parishes, Louisiana.
ACREAGE POSITION APPROX. GROSS APPROX. NET Cotton Valley 23,000 4,800 Haynesville Shale 21,000 3,800 Cubic has developed industry E&P company relationships that operate its properties, and that join as partners in the development of its Haynesville Shale acreage. Cubic shares its Haynesville Shale acreage with the following companies: EXCO Operating Company, LP; BG Group; Chesapeake Energy Corp.; Goodrich Petroleum Company; and El Paso Corp.
Click HERE for a map of Cubic's Haynesville Shale Acreage Position in Caddo Parish and DeSoto Parish, Louisiana.
Click HERE for a map of Cubic's Cotton Valley Acreage Position in Caddo Parish and DeSoto Parish, Louisiana
Presentations
2013
May 22, 2013 - Cubic Annual Shareholder Meeting Presentation
2012
June 8, 2012 - Cubic Annual Shareholder Meeting Presentation
2011
May 25, 2011 - QBC Annual Shareholder Meeting Presentation May 25, 2011 and Natural Gas in the News
APRIL 11, 2011 - QBC Management Presentation April 2011 and Natural Gas in the News
FEBRUARY 22. 2011 - Audio of Investor Conference Call
FEBRUARY 4. 2011 - IPAA Webcast Link and QBC Management Presentation IPAA OGIS 2-4-11
2010
November 2010 - QBC Management Presentation November 2010
November 2010 - QBC Management Presentation November 2010
October 2010 - QBC Management Presentation October 2010
September 2010 - QBC Investor Conference Call Transcript from September 29, 2010
August 2010 - QBC Management Presentation August 2010
June 2, 2010 - QBC - Investor Conference Call Transcript from June 2, 2010 at 9:30am
June 2, 2010 - QBC - Investor Conference Call Audio from June 2, 2010
May 7, 2010 - QBC - Shareholder Meeting Presentation May 7, 2010
April 2010 - QBC - Management Presentation April 2010
March 25, 2010 - QBC - Howard Weil Energy Conference Presentation
February 2010 - CORPORATE PRESENTATION
Investor Relations & SEC Filings
Press Releases 2013
Archived News:
2001 Press Releases
Market Value1 | $23,981,881 | a/o Sep 17, 2013 |
Shares Outstanding | 77,360,908 | a/o May 08, 2013 |
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