IRVINE, Calif., Nov. 18, 2009 (GLOBE NEWSWIRE) -- SectorWatch.biz announces the availability of a commentary of interest to investors in Lucas Energy, Inc. (NYSE Amex:LEI) and other oil & gas-related equities making news and driving markets today. Investors can view our free commentaries at: www.SectorWatch.biz -- in association with FiSpace.net, a dynamic social networking site for investors.
As crude oil prices hover below $79 per barrel, traders are trying to anticipate the strength of the global economic recovery and how much crude demand may grow during the next 12 months. Some analysts expect stronger demand and a weakening U.S. dollar will help push prices higher.
This bodes well for independent oil companies such as Lucas Energy, focused on maintaining lower operating expenses on its leases. By utilizing tight field and operating management controls and having a comprehensive understanding of the production characteristics of the Austin Chalk formation in Texas' gulf, the Company believes that it can increase reserves, improve production and maximize cash flow while avoiding most of the high risks of typical exploration projects.
In its recent announcement William Sawyer, CEO of Lucas Energy, said, "We are happy to announce the return to positive EBITDA for the fiscal second quarter. The current quarter returns this trend to positive EBITDA and positive cash flow from operations and we are seeing higher production and strong oil prices. This combined with our focus on keeping lease operating expenses down will result in an even better third quarter."
A fact sheet on Lucas Energy is available FREE at this link: http://www.smallcapvoice.com/lei/factsheet.html
Austin, Texas-based Lucas Energy, Inc. identifies, evaluates and acquires leasehold property interests, primarily in the Austin Chalk formation of the middle Gulf Coast of Texas, that are underperforming or have been shut-in or plugged and abandoned. Learn more here: www.lucasenergy.com.
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