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The well was spudded on September 28, 2009 and is expected to be completed within two weeks. The well was originally drilled in 1991 and plugged and abandoned in 2005. Lucas will re-enter the well and clean out the horizontal leg acidizing the lateral in stages to restore production.
William A. Sawyer, President and CEO of Lucas Energy, said, "With oil prices at $65 per bbl, the cost of the workover should payout in less than 6 months." For more information on this and other activities of the Company, see the Lucas Energy web site www.lucasenergy.com.
The Lucas Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4192
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. The Company's complete filings with the Securities and Exchange Commission are available at http://www.sec.gov
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Lucas Energy
CONTACT: Lucas Energy, Inc. (713) 528-1881 Michael Brette,J.D. mikebrette@gmail.com Mike King mike@princetonresearch.com
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