Lucas Energy Reports Successful Revitalization of Gonzales Kuntschik No. 2 Well.HOUSTON -- Lucas Energy, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : LUCE) announced the successful revitalization of Kuntschik No. 2 well which as of Sunday, June 25, 2006 is now producing 58 barrels of oil per day. Lucas Energy, Inc. acquired the well, along with the Kuntschik No. 1 well, in June 2005. At the time of purchase, the Kuntschik No. 2 well was producing low or minimal oil volume. Lucas Energy's revitalization team, headed by Lucas Energy Chief Operations Officer, William A. Sawyer, discovered the kick-off point (KOP n. 1. Hill; mountain. ) for the lateral was too high, and consequently ran into the shale above the Austin Chalk. The shale had swollen and sloughed into the lateral closing off the production flow to the main wellbore. The revitalization team cleaned out the lateral and put a liner in the upper part of the lateral to seal off the shale interval. Lucas Energy CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. James Cerna, Jr. previously stated, "Our expertise lies in our ability to identify and revitalize under performing properties. We expect the Kuntschik No. 2 well to match or exceed Kuntschik No. 1 within thirty days after the flush production is over." The Kuntschik No. 2 well is completed in the Austin Chalk formation See See also: Chalk and is located in Gonzales County, Texas Gonzales County is a county located in the U.S. state of Texas. In 2000, its population was 18,628. It is named for its seat, the city of Gonzales.6 Geography According to the U.S. Census Bureau, the county has a total area of 2,771 km² (1,070 mi²). . It has a vertical depth of approximately 8000 feet and a 1300 foot lateral extension. LUCAS ENERGY, Inc. (OTCBB: LUCE) (www.lucasenergy.com), trades on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . It is an oil and gas company with a growing portfolio of high value oil and gas assets in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Founded in 2004, Lucas Energy began by identifying underdeveloped oil and gas operations that represented strong potential for development. In May of 2005, the company completed its first acquisition, located in the Pilgrim Field, Gonzales County, Texas. The Company's headquarters are located at 3000 Richmond Avenue, Suite 400, Houston, Texas 77040. "Safe-Harbor" Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Lucas Energy to differ materially from those implied or expressed by such forward looking statements. This press release speaks as of the date first set forth above and Lucas Energy assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade. |
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