Press Releases
LUCAS ENERGY, INC.
| June 13, 2013 |
Lucas Energy Announces Fiscal Year 2013 Estimated Proved and Probable Reserves |
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HOUSTON, June 13, 2013 /PRNewswire/ — Lucas Energy, Inc. (NYSE MKT: LEI), an independent oil and gas company with its main operations in Texas, today provided summary estimates of its total proved and probable Securities Exchange Commission (“SEC”) reserves and future net revenues as of April 1, 2013. |
| Apr. 9, 2013 |
Lucas Energy Completes Its Final Settlement Eliminating $1.3 Million in Related Obligations |
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HOUSTON, April 9, 2013 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE MKT:LEI) (“Lucas Energy” or the “Company”), an independent oil and gas company with main operations in Texas, today announced that it has completed the previously announced Settlement Agreement with Seidler Oil & Gas, L.P. Effective April 8, 2013, the Company received all of the required private investor releases; paid Seidler related legal fees; and returned approximately $1.3 million in prior investments to its investors. |
| Apr. 8, 2013 |
Lucas Energy Completes $2.75 Million Bridge Loan |
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HOUSTON, April 8, 2013 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE MKT:LEI) (“Lucas Energy” or the “Company”), an independent oil and gas company with main operations in Texas, today announced that it has completed a $2.75 million bridge loan with an investor group led by two Lucas Energy Directors to fund its current working capital needs. The Company has conducted fundraising efforts recently in anticipation of providing capital for the payments required in connection with the legal settlements previously announced. The Company received a number of term sheets of varying amounts and it became evident that the terms and conditions proposed to the Company were based more on the Company’s recent history of net losses instead of the future value and operating plans of the Company. As such, the Company decided to accept the more favorable terms of the bridge loan proposed by the investor group led by two of its Directors. |
| Apr. 8, 2013 |
Lucas Energy Names Oil and Gas Finance Executive William J. Dale as Chief Financial Officer |
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HOUSTON, April 8, 2013 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE MKT:LEI) (“Lucas Energy” or the “Company”), an independent oil and gas company with main operations in Texas, today announced the appointment of William J. Dale as Chief Financial Officer, Treasurer and Secretary of the Company. Mr. Dale replaces Anthony C. Schnur in those posts, which Mr. Schnur has held on an interim basis since being named CEO of Lucas Energy in December 2012. |
| Apr. 2, 2013 |
Lucas Energy Settles Legal Lawsuit, Eliminating $24M in Related Obligations |
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HOUSTON, April 2, 2013 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company with main operations in Texas, today announced that it has entered into a Settlement and Release Agreement with Nordic Oil USA 1, LLLP in which the parties have agreed to terminate their October 13, 2011 purchase and sale agreement. The amicable settlement resolves litigation filed by Nordic seeking payment of the principal, accrued interest, attorney’s fees and other damages relating to a $22 million, 6% promissory note due November 17, 2012 that had been issued by Lucas. |
| Feb 14, 2013 |
Lucas Energy Announces Third Quarter 2013 Financial and Operating Results |
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HOUSTON, Feb. 14, 2013 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE MKT:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced third quarter results ending December 31, 2012 for fiscal year 2013. For the quarter, Lucas reported a net loss of $2.7 million, or $0.10 per diluted share, versus a net loss of $2.2 million, or $0.11 per diluted share, for the same quarter last year. Average production increased 37 percent to 215 net barrels of oil equivalent per day (“boe/d”) compared to the same quarter last year of 157 net boe/d. Revenue increased 48 percent to $1.9 million compared to $1.3 million the same period last year. |
| Jan 30, 2013 |
Lucas Energy Announces Recent Results of Production and Settlement of Previously Announced Litigation |
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HOUSTON, Jan. 30, 2013 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that over the past 45 days it has conducted a series of work overs on its operated wells and has increased total production from an average of 260 barrels of oil per day in December 2012 to approximately 330 barrels of oil per day as of the end of January 2013. |
| Dec 21, 2012 |
Lucas Energy Announces Completion of $4 Million Asset Sale and Provides Updates on Previous Announcements |
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HOUSTON, Dec. 21, 2012 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE MKT:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that the Company has completed the sale of a 0.77% net royalty interest in certain assets owned by the Company within the Baker Deforest Unit, located in Gonzales and Dewitt Counties, Texas, for $4 million. |
| Dec 17, 2012 |
Lucas Energy Announces Status of Note Payable |
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HOUSTON, Dec. 17, 2012 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE MKT:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that the Company’s $22 million senior secured promissory note due to Nordic Oil USA I, LP (“Nordic”), is past due and Nordic has filed a lawsuit against the Company to seek repayment of the note and a judicial foreclosure of the properties acquired from Nordic. |
| Dec 14, 2012 |
Lucas Energy Announces Resignation of Co-Founder and CEO and Appointment of New CEO and Director |
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HOUSTON, Dec. 14, 2012 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE MKT:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that Co-Founder, Chief Executive Officer and Director William A. Sawyer has resigned effective December 12, 2012 to pursue other endeavors. |
| Nov 14, 2012 |
Lucas Energy Files 10-Q for 2nd Quarter of Fiscal Year 2013 |
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HOUSTON, Nov. 14, 2012 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that the Company has filed its Form 10-Q Quarterly Report for the 2nd Quarter of fiscal year 2013. Key elements of activity for the 2nd Quarter of the 2013 fiscal year include: (1) increases of 182% and 102% in net operating revenues for the three and six months ended September 30, 2012, respectively, to $2.7 million and $4.5 million for the three and six months ended September 30, 2012, compared to $1.0 million and $2.2 million for the three and six months ended September 30, 2011, respectively; (2) $7.1 million of cash provided by financing activities for the six months ended September 30, 2012; and (3) increases of 155% and 103% in net barrels of crude oil sales for the three and six months ended September 30, 2012, respectively, compared to the same periods for the previous fiscal year. The entire copy of the Form 10-Q filing is available on the SEC’s Edgar website. |
| Nov 13, 2012 |
Lucas Energy Announces Annual Meeting Date |
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HOUSTON, Nov. 13, 2012 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE:LEI) an independent oil and gas company (the “Company” or “Lucas”), today announced that its Annual Meeting of stockholders will be held on December 12, 2012 at 10 a.m. Central Standard Time at 2000 Bering Drive, Suite 909, Houston, Texas 77057. Company stockholders as of the close of business on November 9, 2012, will be entitled to notice of the annual meeting and to vote upon matters considered at the meeting. |
| Nov 1, 2012 |
Lucas Energy Announces Appointment of New Chief Financial Officer |
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Lucas Energy, Inc. (NYSE:LEI) an independent oil and gas company (the “Company” or “Lucas”), today announced that the Board of Directors has appointed Anthony C. Schnur as CFO (“Chief Financial Officer”), Treasurer, and Secretary of the Company effective November 1, 2012. The new appointment was at the request of the current CFO, Andrew Lai, who has stepped down due to family medical issues. Current plans are for Mr. Lai to remain with Lucas in another capacity. |
| Oct 4, 2012 |
Lucas Energy Announces Election of New Members to the Board of Directors |
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Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that the Board of Directors has unanimously elected Ryan Morris and Josh Young to serve on the Board of Directors of the Company. Through their respective affiliates, Meson Capital Partners and Young Capital Management, Mr. Morris and Mr. Young are the largest shareholders of Lucas with a combined stake of over 4 million shares (including 337,500 shares underlying warrants) representing more than 16% of the total outstanding shares. These affiliates participated in full in the recent 800,000 share private placement of Lucas common stock. |
| Oct 3, 2012 |
Lucas Energy Provides Update on Request for Special Shareholders Meeting |
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Lucas Energy, Inc. (NYSE:LEI) an independent oil and gas company (the “Company” or “Lucas”), today announced that the various shareholders of the Company who had previously filed a press release requesting that the Board of Directors call a special meeting of the shareholders have not, as of this date, provided to the Company sufficient shareholder support to require the Board to call such meeting. Furthermore, the President and Board of Directors of Lucas do not feel that a special shareholders’ meeting would be economical in light of the fact that the annual shareholders’ meeting is upcoming. |
| Oct 2, 2012 |
Lucas Energy Announces Execution of Joint Venture Term Sheet With Milestone Energy, LLC |
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Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that the Company has executed a term sheet for a Participation Agreement (commonly called a “joint venture” in the industry) with Milestone Energy, LLC (“Milestone”) for the development of oil and gas properties located in the Gonzales, Wilson, and Karnes Counties, Texas area of the Eagle Ford/Austin Chalk Trend. The binding provisions of the term sheet call for Milestone to contribute 80% of the cost or value of the acreage to be developed and the Company to contribute 20%, and Milestone will be responsible for 100% of the drilling and completion cost, as well as project generation fees. The Company anticipates Milestone contributing from between $40 million and $100 million to the joint venture pursuant to the terms of a final Participation Agreement. |
| Sept 14, 2012 |
Lucas Energy Announces Production Update for 2nd Quarter Fiscal Year 2013 |
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Lucas Energy, Inc. (NYSE MKT:LEI) an independent oil and gas company (the “Company” or “Lucas”), today announced that for the first two months of the 2nd quarter of fiscal year 2013, the Company had average gross production from operated wells of 439 BOPD (barrels of oil per day). This was a 22% increase in gross production over the 1st Quarter of fiscal year 2013 which was 360 BOPD. These numbers do not include oil and gas production from the two Eagle Ford wells operated by an affiliate of Marathon Oil Company.
The increase in gross operated production has been due to the improvement of older wells and not new drilling. Lucas plans to workover additional wells in the 3rd quarter of fiscal year 2013. For more information on this and other activities of the Company, see the Lucas web site www.lucasenergy.com. |
| Sept 12. 2012 |
Lucas Energy Closes $1.32 Million Equity Offering |
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Lucas Energy, Inc. (NYSE MKT:LEI), an independent oil and gas company (the “Company” or “Lucas Energy”), today announced that on September 11, 2012, it closed its previously announced registered offering to certain institutional investors of $1.32 million in equity. In total, the Company sold 800,000 units at a price of $1.65 per unit. Each unit consisted of one share of the Company’s common stock and 0.25 of a warrant to purchase one share of the Company’s common stock. Each warrant can be exercised to purchase one share of the Company’s common stock at an exercise price of $2.00 per share at any time during the one-year period following the closing of the offering. A total of 800,000 shares and 200,000 warrants were sold in connection with the offering. |
| Sept 11, 2012 |
Lucas Energy Announces $1.32 Million Equity Offering |
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Lucas Energy, Inc. (NYSE MKT:LEI), an independent oil and gas company (the “Company” or “Lucas Energy”), today announced that it has undertaken a registered offering to certain institutional investors to raise up to $1.32 million in gross proceeds from the sale of 800,000 units at a price of $1.65 per unit. Each unit consists of one share of the Company’s common stock and 0.25 of a warrant to purchase one share of the Company’s common stock. Each warrant can be exercised to purchase one share of the Company’s common stock at an exercise price of $2.00 per share at any time during the one-year period following the closing of the offering. It is anticipated that a total of 800,000 shares and 200,000 warrants will be sold in connection with the offering. The Company plans to use the proceeds from the offering to pay down expenses related to drilling, lease operating, and workover activities and for general corporate purposes, including general and administrative expenses. |
| August 23, 2012 |
Lucas Energy Announces Execution of Joint Venture Development Agreement With Dolphin Oil Partnership, LP |
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Lucas Energy, Inc. (NYSE MKT:LEI) an independent oil and gas company (the “Company” or “Lucas”), today announced that the Company has entered into a Participation Agreement (commonly called a Joint Venture in the industry) with Dolphin Oil Partnership, LP (“Dolphin” or the “Participant”) for the development of Austin Chalk properties located in the Gonzales, Wilson, and Karnes Counties, Texas area of the Eagle Ford/Austin Chalk Trend. The Participation Agreement calls for the Participant to contribute 100% of the acreage, drilling, and completion cost as well as an overhead contribution and project generation fees. Dolphin may contribute as much as $50 million in capital to the joint venture. continued… |
| August 17, 2012 |
Lucas Energy Files 10-Q for 1st Quarter of Fiscal Year 2013 |
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Lucas Energy, Inc. (NYSE MKT:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that the Company has filed its Form 10-Q for the 1st Quarter of fiscal year 2013. Key elements of the activity of the 1st Quarter of the 2013 fiscal year include: (1) a 39% increase in the net operating revenues over the same period for the previous fiscal year; (2) $5.5 million from financing activities; and (3) a 57% increase in the net barrels of crude oil sales over the same period for the previous fiscal year. The entire copy of the Form 10-Q filing is available on the SEC’s Edgar website. continued… |
| August 8, 2012 |
Lucas Energy Announces Production Update for 1st Quarter Fiscal Year End 2013 |
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Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company (the “Company” or “Lucas”), today announced that for the Company’s 2013 first fiscal quarter, i.e., the quarter ended June 30, 2012, gross operated production was over 30,000 bbls (barrels) of oil. This is a 70% increase in the production over the 1st Quarter of fiscal 2012 which was just over 18,000 bbls of oil. These numbers do not include oil and gas production from the two Eagle Ford wells operated by an affiliate of Marathon Oil Company. continued… |
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The following press releases provided by 
http://www.globenewswire.com/newsroom/headlines.html?cmd=search;searchby=sym;string=lei
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