0001010549-06-000063 Sample Contracts

and
Registration Rights Agreement • February 9th, 2006 • Cubic Energy Inc • Drilling oil & gas wells • Texas
AMONG
Credit Agreement • February 9th, 2006 • Cubic Energy Inc • Drilling oil & gas wells • Texas
Exhibit 10.2 PROMISSORY NOTE CUBIC ENERGY, INC.
Cubic Energy Inc • February 9th, 2006 • Drilling oil & gas wells • Texas

FOR VALUE RECEIVED, the undersigned, CUBIC ENERGY, INC., a Texas corporation ("Maker"), promises to pay to the order of PETRO CAPITAL V, L.P., a Texas limited partnership (herein called "Payee", which term shall herein in every instance refer to any owner or holder of this Note) the sum of SEVEN MILLION DOLLARS ($7,000,000.00), or so much thereof as may be actually advanced to Maker by Payee, together with interest on the principal hereof outstanding until maturity, said principal and interest being payable in lawful money of the United States of America as more particularly provided in that certain Credit Agreement of even date herewith, between Maker and Payee (as such may be amended or restated from time to time, the "Credit Agreement"). Capitalized terms used, but not otherwise defined, herein shall have the meaning given such terms in the Credit Agreement.