Lucas Energy

Lucas Energy Completes Its Final Settlement Eliminating $1.3 Million in Related Obligations

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.

Lucas Energy

Lucas Energy Completes $2.75 Million Bridge Loan

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.

Lucas Energy

Lucas Energy Names Oil and Gas Finance Executive William J. Dale as Chief Financial Officer

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.

Lucas Energy

Lucas Energy Settles Legal Lawsuit, Eliminating $24M in Related Obligations

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.

Lucas Energy

Lucas Energy Announces Third Quarter 2013 Financial and Operating Results

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.

Lucas Energy

Lucas Energy Announces Recent Results of Production and Settlement of Previously Announced Litigation

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.

Lucas Energy

Lucas Energy Announces Completion of $4 Million Asset Sale and Provides Updates on Previous Announcements

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.

Lucas Energy

Lucas Energy Announces Status of Note Payable

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.

Lucas Energy

Lucas Energy Announces Resignation of Co-Founder and CEO and Appointment of New CEO and Director

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.

Lucas Energy

Lucas Energy Files 10-Q for 2nd Quarter of Fiscal Year 2013

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.