Lucas Energy, Inc. Ervin et al No.1


HOUSTON, Sept. 9, 2009 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the "Company") based in Houston, Texas, today announced the commencement of drilling the Ervin et al No.1 well, Gonzales County, Texas, a deepening of a horizontal Austin Chalk well plugged back last year.

The well was spudded on August 24, 2009 and is expected to be drilled down to total depth within two weeks. The lateral in the Austin Chalk was plugged back last year in anticipation of this deepening. The well will be cleaned out to the top of the plug back cement plug and drilled straight down to the lower intervals (Austin Chalk, Eagleford Shale, and Buda). This well is a part of a joint venture program involving Lucas Energy, Inc., as operator, and two other non-operator working interest owners, one of which purchased an eighty percent BPO (before payout) working interest in the subject well.

Lucas operates twenty-two wells in Gonzales County, Texas. Lucas, recently, re-entered two other wells in this area, the Norris No.1 well and the Mills Oil Unit No.1 well. The Norris No.1 well has been completed and tested 99 BOPD flowing. The Mills Oil Unit No.1 well is awaiting installation of a pumping unit to test the well.

William A. Sawyer, President and CEO of Lucas Energy, said "Lucas Energy, Inc. has moved ahead in this quarter toward the completion of Phase I of our operational business plan. With oil prices at $67 per bbl now and headed into the $70 per bbls range for the next quarter, we are looking forward to a good fiscal 2nd quarter financially."

About Lucas Energy

Lucas Energy, Inc. (NYSE Amex:LEI) is a Texas based independent crude oil and gas company that indentifies, evaluates and acquires oil and gas property interests, primarily in the Austin Chalk formation of South Texas, that are underperforming or have been shut-in or plugged and abandoned. These properties are revitalized by undertaking extensive re-entry and work-over procedures, including clean-up, repairs and treatments of the existing well bores and lateral extensions, as well as extending or drilling new laterals into previously nonproducing areas of the formation. By utilizing tight field and operating management controls, together with having a comprehensive understanding of the production characteristics of the Austin Chalk, the Company believes that it can increase reserves, improve production and maximize cash flow while avoiding most of the high risks of typical exploration projects.

The Company's headquarters are located at 6800 West Loop South, Suite 415, Bellaire (a suburb of Houston), Texas 77401.

The Lucas Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4192

Forward-Looking Statement

This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans," "feels," "anticipates" and certain of the other foregoing statements may be deemed "forward-looking statements." Although Lucas Energy believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors. The Company's complete filings with the Securities and Exchange Commission are available at http://www.sec.gov



            

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