CUBIC ENERGY INC. SECOND AMENDED AND RESTATED WARRANT (2013-02-14)
This certifies that, for value received, Wells Fargo Energy Capital, Inc., a Texas corporation, or its registered assigns (Holder) is entitled, subject to the terms set forth below, to purchase from Cubic Energy, Inc., a Texas corporation (the Company), ** __** 2,500,000 shares of Common Stock, $0.05 par value per share, of the Company (such class of stock being referred to herein as Common Stock), as constituted on March 5, 2007 (the Issue Date), upon compliance with the exercise provisions set forth in _Section 1_ hereof, at the price of $0.20 **** per share (the Exercise Price). This Warrant must be exercised, if at all, prior to 5:00 p.m., Dallas, Texas time on December 1, 2017. The shares of Common Stock issued or issuable upon exercise of this Warrant are sometimes referred to as the Warrant ** __** Shares. The term Warrant as used herein shall include this Warrant and any warrants delivered in substitution or exchange therefor as provided herein.