Lucas Energy, Inc. (LUCE.OB) has reported that the independent research firm, TRI-STATE Capital, has upgraded their equity rating on LUCE.
The news comes as Lucas Energy has been moving aggressively forward on two key projects. First, the Company has recently acquired the Team Bank No.1-H well, Wilson County, Texas. The well was drilled in 1992 and has cumulative production of 35,159 bbls of oil. The well is a horizontal that is currently producing from the Austin Chalk formation.
Secondly, LUCE is beginning their work over program on six wells which where acquired from the Delphic Oil and Gas Company.
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