HOUSTON, Aug. 3, 2011 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the "Company" or "Lucas"), today announced that the Company's operated wells had a gross production increase of approximately 20% from June 2011 to July 2011. For the month of July, gross production was almost 5,900 barrels (bbls) of oil. Gross sales of oil (in barrels) are anticipated to be up 26% in July versus June 2011. These figures do not include either the non-operated Hagen Ranch Eagle Ford wells or any production which may have been produced while drilling the Rainey Unit No.1H well.
Gross production for the first four months of fiscal year 2011-12 (April 1st through July 31st), is currently anticipated to be reported 80% higher than for the same period last year. Again, these figures do not include production from the non-operated Hagen Ranch Eagle Ford wells. The Rainey Unit No.1H well is anticipated to add another 100 barrels of oil per day (BOPD) or more to the gross production for this quarter; and the Milton Hines No.1 lateral re-drill is anticipated to add the same amount of gross production to next quarter's totals. For more information on this and other activities of the Company, see the Lucas Energy web site www.lucasenergy.com.
Company Website: www.lucasenergy.com
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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, as amended (the "Act") and Section 21E of the Securities Act of 1934, as amended (the "Exchange Act"). In particular, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements and are subject to the safe harbor created by these Acts. Any statements made in this news release about an action, projection, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration and development of oil and gas. These risks include, but are not limited to, completion risk, dry hole risk, price volatility, reserve estimation risk, regulatory risk, potential inability to secure oilfield service risk as well as general economic risks and uncertainties, as disclosed in the Company's SEC filings (including its Form 10-K and Form 10-Q's). Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements except as otherwise required by law, or those prepared by third parties that are not paid by the Company. The Company's SEC filings are available at http://www.sec.gov.