HOUSTON, Sept. 20, 2006 (PRIMEZONE) -- Lucas Energy, Inc. (OTCBB:LUCE) announced its acquisition of two oil and gas properties covering 127 acres: the Zavadil and the Canion Unit, located in Gonzales County, Texas. The leases contain two shut in wellbores that reach the Austin Chalk formation. Lucas Energy intends to recomplete the existing wells and bring them back to production using its proven revitalization process.
"These acquisitions complement Lucas Energy's existing producing assets and are in close proximity to the heart of our operations. I am pleased with our progress in growing our net acreage portfolio at such a fast rate," stated CEO James Cerna, Jr., Lucas Energy, Inc.
About Lucas Energy
Lucas Energy, Inc. 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 meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its asset base and cash flow, while significantly reducing the risk of traditional exploration projects. Lucas Energy's financial structure allows it to minimize the high overhead of traditional E&P companies. For more information, visit http://www.lucasenergy.com.
"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.