HOUSTON, April 10, 2007 (PRIME NEWSWIRE) -- Lucas Energy, Inc. (OTCBB:LUCE), a U.S.-based independent oil and gas company, today announced that Malek A. Bohsali has joined the Company as the new Chief Financial Officer. Mr. Bohsali brings over 15 years of experience in the energy sector, which includes a distinguished background in both engineering and fiscal governance.
Mr. Bohsali has over 15 years of experience in the energy industry, including positions in management and oversight of engineering and construction activities, negotiating major vendor contracts, and implementing financial controls. Mr. Bohsali also has strategic business development, competitive analysis and financial structuring experience. He has identified, analyzed and negotiated acquisition and development targets ranging in size from $50 million to $1.45 billion for Fortune 100 and Fortune 200 companies.
"Malek Bohsali's addition to our executive management team will bring a significant depth of knowledge to our fast-growing company, making him a perfect fit to oversee and monitor the quality of our asset portfolio. He will also be responsible for corporate governance commensurate with listing protocols required for a national exchange," said James Cerna, Lucas Energy CEO.
Mr. Bohsali is also a member of the Board of Directors of Dynamic Health Strategies, Inc. a data-mining and reporting company, where he was responsible for the company's financing efforts. Mr. Bohsali received an MBA from The University of Houston, and a BS from in Civil Engineering from Texas A&M University.
The complete financial results for the Company are available on Form 10-QSB at http://www.sec.gov.
Lucas Energy, Inc. (OTCBB:LUCE) (www.lucasenergy.com) is an independent crude oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying underperforming oil and gas assets, which are revitalized through a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its asset base and cash flow, while significantly reducing the risk of traditional exploration projects. The Company's headquarters are located at 3000 Richmond Avenue, Suite 400, Houston, Texas 77040.
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Lucas Energy to differ materially from those implied or expressed by such forward-looking statements. Lucas Energy assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability of potential customers to pay, and political and economic risks inherent in international trade.