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
          13a-15(e)-15d-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
               (c)  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: May 14, 2007                                 Signature: /s/ James L. Busby
                                                             -------------------
                                                             James L. Busby, CFO


                             Exhibit 31.2 - Page 1