Stock Review: Lucas Energy, Inc., profiled on Wall Street News Hour
PROGRAM ANNOUNCEMENT:
The Wall Street News Hour profiles Lucas Energy, Inc. a publicly traded oil & gas company trading on the NYSE/Amex under the stock symbol LEI. Lucas Energy has been producing oil in Southern Texas since 2004. Listen and learn how to profit from the increase in oil prices instead of just paying higher prices at the pump. Lucas Energy is based in Houston and has approximately 15,000 acres of land in 4 counties, including Gonzales County. They are building a different kind of oil & gas company by avoiding most of the typical exploration risk by acquiring properties in proven areas where management has prior experience. They are acquiring previously producing wells which were abandoned or shut-in due to low commodity prices in the early 1990’s.
Seeking producing property acquisitions will significantly increase the size of the company by growing reserves, production and cash flow accretive to shareholders. Currently, Lucas Energy operates 28 producing wells which collectively amount to 125 BOPD. The company also controls another 16 shut-in or plugged well bores. Production has steadily increased over the past three years from work-over’s and new lateral drilling. In their 2008-2009 fiscal year, Lucas produced 52,585 BBL’s of oil from its operating wells in the Austin Chalk trend, primarily in Gonzales County, Texas. This was a 7% incrase in production over the previous year.
The Wall Street News Hour brings you news you can use to make money in any market.
This show aired live on Thursday, July 2, 2009 on internet talk radio station Global Talk Radio at http://www.globaltalkradio.com, and archives are available for on-demand streaming at http://www.globaltalkradio.com/shows/wallstreetnewshour.
One Response to “Stock Review: Lucas Energy, Inc., profiled on Wall Street News Hour”
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Comment from Josh Maxwell
Time July 2, 2009 at 5:00 pm
Great Blog post. I am going to bookmark and read more often. I love the Blog template