HOUSTON, Dec. 9, 2008 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSEAlternext:LEI) ("the Company), based in Houston, Texas announced today that as a result of the merger between the American Stock Exchange (AMEX) and the New York Stock Exchange (NYSE) its common stock began trading on the New York Stock Exchange (NYSE Alternext US) effective Monday, December 1, 2008. The Company's stock continues to be listed under the stock ticker symbol of LEI and the Kellogg Specialist Group continues to act as the designated Market Maker for Lucas Energy, Inc.
Management Comments
W.A. Sikora, President and CEO of Lucas Energy, Inc., said; "Lucas Energy will continue to be listed along with a prestigious group of U.S. and international companies which trade on the New York Stock Exchange Alternext US. As an internationally recognized exchange, an NYSE Alternext US listing favorably positions us to reach a broad investment audience, including greater access to institutional investors, while increasing our liquidity and transparency. Our transition to trading under the NYSE's next generation market model has been seamless. As part of this move, our AMEX Specialist, who has been trained in the new trading technology, will also move to the NYSE Alternext US, and along with NYSE Specialists, will be called a Designated Market Maker. This new platform has important market structure enhancements, resulting from significant investments in technology and ensuring the highest quality trading systems in terms of reliability and flexibility. It is expected to result in faster and more robust trading, enhanced opening and closing processes, streamlined access to the marketplace via a new trading-license model and overall improved functionality and customer experience. We are confident the NYSE will provide an excellent platform for trading our shares."
New Office Location
In addition, the Company announces it will be relocating the corporate headquarters. Effective December 15, 2008 the Company will be located at 6800 West Loop South, Suite 415, Houston, Texas, 77401. The phone and fax numbers remain the same.
About Lucas Energy
Lucas Energy, Inc. (NYSEAlternext:LEI) 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 an intensive process of evaluation, application of contemporary operating methods, and tight management procedures. This process allows the Company to increase its reserve base and cash flow while significantly reducing the risk of typical exploration projects.
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 complete filing is available at http://www.sec.gov