HOUSTON, Sept. 22, 2009 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the "Company") based in Houston, Texas, today announced the execution of a letter of intent to acquire approximately 2,700 acres of mineral leases in Wilson County, Texas. The mineral leases include acreage with shut in or abandoned wells in the Austin Chalk and Eagleford Shale trends.
William A. Sawyer, President and CEO of Lucas Energy, said, "Lucas Energy, Inc. is making this acquisition in anticipation of a new joint venture in the Fall 2009." Additional information will be posted on the Lucas web site (www.lucasenergy.com) within the next few days.
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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 Company's complete filings with the Securities and Exchange Commission are available at http://www.sec.gov