Lucas Energy, Inc. (LUCE.OB), an independent oil and gas company, reported that it has begun its workover program of the wells acquired from the Delphic Oil and Gas company in December of 2006. The Delphic assets represent 4 properties and 6 wells with a total of 1172.29 acres.
Testing on two of the wells has shown “virgin pressure” at depth. This is a good indication that production can be increased with further drilling and stimulation techniques. The company is also encouraged by recent engineering indicating future development locations.
The company plans to include these proved undeveloped locations in its fiscal 2008 drilling program which began April 1, 2007.
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