Cubic Energy considers strategic options

By Lisa Kerner

Charlotte, N.C., Oct. 14 - Cubic Energy, Inc. said it has engaged RBC Richardson Barr Securities, Inc., an affiliate of Royal Bank of Canada Capital Markets, to explore strategic alternatives on behalf of the company and its shareholders.

The move is in reaction to "ever increasing unsolicited interest in the company's assets in North Louisiana," according to a Cubic Energy news release.

Cubic Energy, a Dallas independent energy company, said there is also "significant interest" in its gathering and pipeline systems.

"The company has reached the natural point in its development where it needs to explore all options," Cubic Energy president and chief executive officer Calvin Wallen III said in the release. "Everyone needs to understand that this is not a product of the market or global financial conditions, but an effort of management to better serve its shareholders."

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