REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

  • The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
  • Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
  • Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
  • Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
  • Closed bridge financing for $150,000 and went public in 2011.
  • Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
  • Plans to acquire and develop $200 MILLION in proven reserves.

Wednesday, September 7, 2011

Lucas Energy to buy Nordic Oil assets


Houston-based Lucas Energy Inc . said it intends to buy Texas oil and gas assets from Nordic Oil USA I LLP, in Gonzales, Karnes and Wilson counties.
Lucas (NYSE: LEI) will purchase the assets for $22 million, payable as a convertible senior secured promissory note. Terms include a 12-month period at a 6 percent annual interest rate to be converted into Lucas common stock at a price to be set in the final agreement, pending approval by shareholders and regulators. The definitive agreement is expect before Jan. 1, 2012.

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