Gastare will close the sale in September

[dan_s]

This is bullish for GST. GST balance sheet will be in great shape after this sale and they can focus on ramping up production.

DALLAS, TX -- 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).