Exhibit 31.2
                                  CERTIFICATION
                    Pursuant to Rule 13a-14(a) and 15d-14(a)

I, James L. Busby, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Cubic Energy, Inc.

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report.

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.

4. I am responsible,  as C.F.O.,  for  establishing  and maintaining  disclosure
controls and procedures (as defined in Exchange Act Rules 13(a) - 15(e)) for the
registrant and I have:
         (a) designed such disclosure  controls and  procedures,  or caused such
         disclosure controls and procedures to be designed under my supervision,
         to  ensure  that  material  information  relating  to  the  registrant,
         including its consolidated subsidiaries,  is made known to me by others
         within  those  entities,  particularly  during the period in which this
         quarterly report is being prepared;
         (b) evaluated the effectiveness of the registrant's disclosure controls
         and procedures  and presented in this report my  conclusions  about the
         effectiveness of the disclosure controls and procedures,  as of the end
         of the period  covered by this report based on such  evaluation  and; I
         disclosed  in this  quarterly  report  any  change in the  registrant's
         internal  control over  financial  reporting  that occurred  during the
         registrant's  most recent fiscal quarter that has materially  affected,
         or is reasonably likely to materially affect, the registrant's internal
         control over financial reporting.

5. I have disclosed, based on my most recent evaluation of internal control over
financial reporting, to the registrant's auditors and the Audit Committee of the
registrant's Board of Directors (or persons performing the equivalent function):
         (a) all significant  deficiencies and material weaknesses in the design
         or operation of internal  control over  financial  reporting  which are
         reasonably  likely to  adversely  affect  the  registrant's  ability to
         record, process, summarize and report financial information; and
         (b) any fraud,  whether or not material,  that  involves  management or
         other  employees  who  have a  significant  role  in  the  registrant's
         internal control over financial reporting.


         Date: November 13, 2006                   Signature: /s/ James L. Busby
                                                             -------------------
                                                             James L. Busby, CFO