Lucas Energy (LEI +7.9%) strikes a JV with a U.S. player backed by Chinese investors to pump...

|About: Lucas Energy, Inc. (LEI)|By:, SA News Editor

Lucas Energy (LEI +7.9%) strikes a JV with a U.S. player backed by Chinese investors to pump $100M into exploitation of Texas oil assets. Milestone Energy agrees to fund 80% of the cost of the properties to be developed in the Austin Chalk and Eagle Ford trends, as well as all drilling and completion expenses plus project generation fees.