HOUSTON, July 18, 2006 (PRIMEZONE) -- Houston based Lucas Energy, Inc. (OTCBB:LUCE), an independent oil and gas company building a diversified portfolio of valuable assets in the United States, today announced financial community road show luncheons on July 25th in San Francisco, and July 26th in Los Angeles, CA (Irvine). Both road show luncheons will start at 1:00 PM.
The San Francisco luncheon will be held at McCormick & Kuleto's, 900 Northpoint Street, and the Orange County luncheon will be held in Irvine at Prego Ristorante, 18420 Von Karman Avenue.
Lucas Energy's presentation by senior management will include a review of current operations, and most importantly the Company's plans for the future.
Commenting on the Company's participation at the Road Show Luncheon, James J. Cerna, Chief Executive Officer of Lucas Energy stated, "I am excited about this opportunity to present our story to key members of the California financial community. Lucas Energy is making tremendous progress towards its goal to become a low risk, high margin expert in the revitalization of underperforming and shut in wells."
Members of the financial community who are interested in attending the road show luncheons, or who would like additional information should contact Seana Harvey, Friedland Investment Events, Tel. (303) 355-4369, seana@friedlandcapital.com.
About Lucas Energy
Houston based Lucas Energy, Inc. (OTCBB:LUCE), is an independent 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 strict process of evaluation, application of modern well technology, and meticulous management controls. This process allows the company to increase its asset base and cash flow, while avoiding the risk of traditional exploration projects. Lucas Energy's financial structure allows it to minimize the high overhead that traditional E&P companies usually have.
Lucas Energy began business in 2004 with the Company's founders identifying underdeveloped oil and gas operations that were believed to have significant upside potential. In May of 2005, the Company completed its due diligence and acquired a 100% working interest in two unit wells (670+acres) located in the Pilgrim Field, in Gonzales County, Texas. In August of that year, the company acquired a 100% working interest in the Green field lease in Baylor County, Texas. This lease consists of 880.7 acres and has two producing wells. In March of 2006, the company completed an acquisition and revitalization program of the Wright No. 1, a 160 acre lease in Gonzales, Texas, increasing production by 700%. Since then the company has acquired five more leases with several operating and shut in wells in need of revitalization. The Company is currently conducting due diligence on several other high value opportunities.
"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. This press release speaks as of the date first set forth above and 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 to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.