DALLAS, Jan. 7, 2005 (PRIMEZONE) -- Cubic Energy, Inc. announced today that Alexander G. Montano has joined the Company's Board of Directors.
Mr. Montano is the Managing Director of the Oil & Gas Group at C. K. Cooper & Company, a full service investment banking and brokerage firm. In this capacity, Mr. Montano has been involved in the financing of numerous smaller exploration and production companies and providing valued added strategic advice. In 2003, when Mr. Montano was an oil and gas equity analyst, he was named in the Wall Street Journals "Best on the Street" as the top oil analyst, and was further recognized by Starmine Research as raking 2nd in the nation for analysts that follow under-followed stocks. Mr. Montano is very active in the oil and gas industry as a member of IPAA and a frequent speaker at industry conferences.
Commenting on this appointment, Calvin Wallen, III stated, "We anticipate that Cubic Energy has embarked on a period of rapid growth in the development of our Bethany-Lonsgstreet play in Northern Louisiana. In gearing up for this growth, we believe that strengthening our Board of Directors is necessary. We believe that the addition of Mr. Montano to our Board of Directors reflects one, his level of confidence in what we are doing, but also strengthens the ability of Cubic to obtain broader investor awareness or capital in the future through his experience and relationships."
C. K. Cooper & Company of Irvine, California recently served as Placement Agent on a financing transaction for Cubic Energy, Inc.
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.
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe," "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 mineral prices, the availability of capital for development of mineral projects and other projects, acceptance of the Companies' products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Companies' periodic report filings with the "Securities and Exchange Commission". By making these forward-looking statements, the companies undertake no obligation to update these statements for revision or changes after the date of this release.
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