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/A 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: March 22, 2006                      Signature: /s/ James L. Busby
                                                             -------------------
                                                             James L. Busby, CFO