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Lucas Energy, Inc. (LEI)

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  • Mon, May 18, 2:58 PM
    • A deal that would have provided a financial lifeline to cash-strapped Lucas Energy (LEI -10.1%) is terminated after proposed merger partner Victory Energy (OTCQX:VYEY -24.1%) backs out of the agreement.
    • Victory also says it will not extend further credit to Lucas.
    • The companies say they are working to finalize the terms of a mutual settlement and release agreement.
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  • Wed, Mar. 4, 2:42 PM
    • Lucas Energy (LEI +10.9%) regains compliance with credit covenants after signing collaboration and funding agreements with Victory Energy (OTCQX:VYEY +31.2%).
    • The collaboration deal transfers rights to seven Eagle Ford wells to Victory, which will fund development of the wells.
    • In the funding agreement, all loans made by Victory under this agreement are secured by a pledge of LEI treasury stock.
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  • Wed, Feb. 4, 12:43 PM
    • Lucas Energy (LEI +68%) says it is working toward a merger with west Texas operator Victory Energy and will seek capital to drill in the Eagle Ford Shale.
    • The two companies have not yet signed a definitive merger agreement but say any deal likely would not involve cash payments; LEI probably would issue equity to Victory shareholders.
    • They say they are negotiating terms of a funding agreement for Victory to provide the capital LEI needs for wells in the Eagle Ford Shale in south Texas and other costs.
    | 1 Comment
  • Mar. 7, 2014, 7:55 AM
    • Lucas Energy (LEI) -4.2% premarket after receiving notification from NYSE MKT that the company is not in compliance with the exchange's continued listing standards.
    • LEI says it is reviewing various proposals relating to proposed transactions to help increase liquidity.
    | 1 Comment
  • Jun. 13, 2013, 11:48 AM
    Lucas Energy (LEI +2.4%) reports FY 2013 estimated proved and probable reserves of 7.2M boe, of which 5.6M are proved reserves. LEI says the pre-tax present value of estimated future net cash flows from its proved and probable reserves, discounted at PV-10, was $168M, a 62% Y/Y increase.
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  • Dec. 26, 2012, 3:38 PM
    Lucas Energy (LEI +19%) soars after saying it recently completed the sale of it Baker Deforest Unit, located in Gonzales and Dewitt Counties, Texas, for $4M. The company on Friday also announced the appointment of Ryan J. Morris as its chairman of the board of directors and amended and restated its bylaws, including the reduction of the required ownership percentage of stockholders required to call a special meeting to at least 10% of all shares entitled to vote, which is down from 30%.
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  • Dec. 26, 2012, 12:45 PM
    Midday top 10 gainers: SGOC +78%. DQ +32%. LEI +17%. CT +13%. SPMD +13%. GOL +11%. CSUN +11%. SOL +10%. ALIM +10%. SPWR +10%.
    Midday top 10 Losers: MED -13%. AERL -8%. AMPL -10%. BNSO -10%. BOSC -8%. MOC -8%. KORS -7%. RWC -7%. PSMI -6%. SDIX -6%.
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  • Dec. 18, 2012, 3:06 PM
    Lucas Energy (LEI -16.4%) says its $22M senior secured promissory note due to Nordic Oil USA I is past due, and Nordic has filed a lawsuit to seek repayment of the note and a judicial foreclosure of properties acquired from Nordic.
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  • Dec. 18, 2012, 12:45 PM
    Midday top 10 gainers: BOSC +83%. OPXA +31%. MEIP +30%. ARB +24%. RNIN +21%. VNDA +21%. III +18%. NVGN +16%. SNFCA +14%. GDP +14%.
    Midday top 10 Losers: AWRE -23%. CNH -18%. LEI -17%. GALE -17%. LIVE -16%. CIS -14%. GTAT -13%. MNGA -12%. RCMT -12%. SWHC -10%.
    | Comment!
  • Oct. 5, 2012, 10:31 AM
    Lucas Energy (LEI -12.9%) shares are slammed following the addition of two new board members. Through their affiliates, Meson Capital and Young Capital, the two additions are LEI's largest shareholders with a combined stake of more than 4M shares representing ~6% of total shares outstanding.
    | 2 Comments
  • Oct. 2, 2012, 10:44 AM
    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.
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  • Jul. 23, 2012, 3:14 PM
    An internal review of Lucas Energy’s (LEI +11.1%) Eagle Ford properties shows as much as 14.5M bbl/day of oil, a big boost from its previous estimate of 3.7M bbl/day. The new estimate would take LEI’s Eagle Ford value to more than $275M, a useful number to evaluate offers by potential buyers or to assist in any decision of whether to develop or sell properties.
    | 3 Comments
  • Jan. 4, 2012, 10:20 AM
    Lucas Energy (LEI +3.7%), a small but growing player in in the massive Eagle Ford Shale field, says it's acquired all of Hall Phoenix Energy's interest in its oil, gas, and mineral leases in the Eagle Ford Trend for $6.4M.
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  • Jun. 24, 2011, 10:36 AM
    Samson Oil (SSN +6.85%) acquires 90K acres of oil and gas leases in Montana from Fort Peck Energy. The purchase will be made in 3 tranches, with the first 20K parcel set to operate immediately with two wells.
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Company Description
Lucas Energy Inc is an oil and gas company. It is engaged in the development and acquisition of onshore properties in Texas. The Company operations are located in the Eagle Ford and Austin Chalk trends in Wilson and Gonzales counties.