- Upfront cash should sustain LEI until well is drilled.
- EOG has recently applied for four drilling permits right next to this acreage.
- 25% WI on an 800 BOPD well would double current net production.
- I think LEI is a cautious buy here.
Lucas Energy, Inc., is an independent oil and gas company engaged in the development and acquisition of onshore properties in Texas. Its operations are located in the Eagle Ford and Austin Chalk trends in Wilson and Gonzales counties.
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