News | February 8, 2010

Lucas Energy Continues Joint Venture For Development Of Oil And Gas Properties In Texas

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Houston, TX (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the "Company") based in Houston, Texas, today announced that it is continuing its joint venture with a previous partner to develop four additional oil and gas properties in Texas. The Company did a $2.7 million joint venture in September 2009 with the same joint venture partner.

The new joint venture was agreed upon in principal in November 2009 but was recently funded with approximately $3.9 million that is earmarked for development of four wells in the new joint venture and further development of two wells in the earlier program. Three of the new program wells are in Wilson County, Texas. The other well is in Gonzales County, Texas.

William A. Sawyer, President and CEO of Lucas Energy, said, "We are pleased that the previous joint venture partner has decided to continue investing with Lucas." For more information on this and other activities of the Company, see the Lucas Energy web site www.lucasenergy.com.

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

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SOURCE: Lucas Energy

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