Lucas Energy, Inc. LEI Archives

TuesdayMay 15, 2007 4:28 am

Lucas Energy, Inc. (LUCE.OB) – Independent Firm Confirms the Company’s 1.5 Million Barrels of Oil in Reserves

Forrest A. Garb and Associates, Inc., an independent licensed petroleum engineering firm, reported that Lucas Energy has approximately $67,363,580, or a discounted PV-10 of $35,941,320, in undiscounted future net revenue existing in their reserves. The total net reserves are 1,582,540 barrels of crude oil and 41.53 MMCF of natural gas. The CEO of Lucas Energy stated he is pleased with the report and believes the verification will help the company accelerate its growth in the future. The Chief Operations Officer of Lucas Energy, William A. Sawyer, said, "The reserve volumes are reflective of the successful business plan and effort to…

TuesdayMay 15, 2007 4:24 am

Estimated Proved Reserves for Lucas Energy, Inc. (LUCE.OB) Exceed 1.5 Million Barrels of Crude Oil

Lucas Energy, Inc. (LUCE.OB), an independent oil and gas company, reported the results of an independent study of the Company's oil and gas reserves performed by Forrest A. Garb and Associates, Inc., an independent licensed petroleum engineering firm based in Dallas. The report estimates the undiscounted future net revenue (FNR) from these reserves at $67,363,580 or a discounted PV-10 of $35,941,320 which is commonly known as the SEC PV-10 figure. The reserve report which is based on interests owned by Lucas Energy, Inc. in certain oil and gas properties located in Gonzales, Baylor, Karnes, and Wilson counties, Texas. The total net reserves…

TuesdayMay 01, 2007 5:59 am

Independent Research Firm Upgrades its Equity Rating for Lucas Energy, Inc. (LUCE.OB)

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. Let us hear your thoughts…

TuesdayMay 01, 2007 5:05 am

Lucas Energy, Inc. (LUCE.OB) Impresses Respected Research Firm

Lucas Energy is pleased to announce that TRI-STATE Capital has upgraded their equity rating on the company. The recent acquired well in Wilson County, Texas is the principle reason for the upgrade; while Lucas Energy’s work over program, on the wells acquired from Delphic Oil and Gas Company, also contributed. The President of Lucas Energy, James Cerna Jr. commented that he is honored to have a quality research firm review the company’s operations and progress. He believes that the strong upgrade encourages the shareholders and reinforces that they are headed in the right direction. In closing, he stated, “We will continue to…

TuesdayApr 24, 2007 7:51 am

Lucas Energy, Inc. (LUCE.OB) Starts Re-Work Program on Six Wells

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…

TuesdayApr 24, 2007 5:56 am

Lucas Energy, Inc. (LUCE.OB) Receives Positive Results From Initial Testing

Lucas Energy announced that they have begun its Workover Program on the wells acquired from Delphic Oil and Gas Company in December of 2006. The asset includes 6 wells and 4 properties adding up to a total of 1,172 acres. Two of the wells have already been tested and have shown ‘virgin pressure’ at depth. This means that production can be increased by drilling deeper and through stimulation techniques. Let us hear your thoughts below:

WednesdayApr 18, 2007 7:32 am

Lucas Energy, Inc. (LUCE.OB) has been Rapidly Gaining Properties; 5,000 Plus Acres over the Last Seven Months

Lucas Energy, Inc. (LUCE.OB) continues on an aggressive growth track. The U.S.-based independent oil and gas company, announced recently that it has added the Team Bank No.1-H well, Wilson County, Texas to its portfolio. 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.The Team Bank property is a 240 acre lease in an area that has not been fully developed. Lucas Energy, Inc. plans to boost production by cleaning out the current lateral and drilling an additional lateral from the current…

WednesdayApr 18, 2007 5:08 am

Lucas Energy (LUCE.OB) Adds a New 240 Acre Property to Its Assets

Before the bell, Lucas announced that it has acquired the Team Bank No.-H well in Wilson County, Texas. The horizontal well has produced 35,159 bbls of oil and is currently producing from the Austin Chalk Formation. The land has not yet been fully developed. Lucas Energy plans to clean out the current lateral, and drill an additional lateral from the current well bore. Furthermore, they plan to explore the potential for the Wilcox and Poth formations on the lease. Lucas Energy has been aggressively acquiring new properties and has succeeded in receiving over 5,000 acres of leased assets in the…

TuesdayApr 10, 2007 7:25 am

Lucas Energy, Inc. (LUCE.OB) Appoints New Chief Financial Officer

Malek A. Bohsali has joined Lucas Energy as a Chief Financial Officer. He brings over 15 years of experience in the energy sector, including a background in engineering and fiscal governance. Bohsali has had positions in management of engineering activities, construction activities, negotiating major vendor contracts, and implementing financial controls. He has a remarkable history of identifying, analyzing and negotiating acquisitions in sizes of $50 Million to $1.45 Billion for fortune 200 companies. James Cerna, CEO of Lucas Energy, stated that Mr. Bohsali’s experience will bring a significant amount of knowledge to Lucas Energy. He is excited to have a…

ThursdayApr 05, 2007 2:36 pm

Lucas Energy Inc. (LUCE.OB) Up 4% Today, as the Company Benefits from the Competitive Advantages of Size of Operations, Experience, and Management

Investors sent the shares of Lucas Energy Inc. (LUCE.OB) up a solid 4% in value today. It is clear to savvy investors, that the Company has several distinct competitive advantages in the industry. These critical areas are size of operations, experience, and contacts. These competitive advantages are brought to the company in the form of its technical and management personnel, and the dedicated business focus established by management. As to size, it forms two important guidelines for the company. First, being a small company looking for small acquisitions is a decided advantage in the oil and gas industries today. Larger companies, and…

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