Lucas Energy CEO William Sawyer will appear on Tuesday’s broadcast of the Business Talk Radio TV and News program – The Bill Chippas Show – to give insight on production in Eagle Ford Shale, Eaglebine and Austin Chalk Crude Oil formations along corporate actvities.
Lucas Energy http://www.lucasenergy.com) is an Independent oil & gas company with oil properties in the Austin Chalk, Eagle Ford Shale and Eaglebine formations. Lucas has shown steady improvement over the past 3 years, has little or no debt and has plans to increase its production by 50 % for the 2012 to 2013 period from its more than 27,000 gross acres, included in that figure are 9000 acres in the Eagleford Shale/ Eaglebine trends. It’s gross production during the first 10 days February beat the entire month of January 2012.
Lucas energy retained Global Hunter Securities and Knight Capital in January ; While Lucas Energy‘s business plan in part is to; acquire wells at low cost, develop the underlying potential of leases by improving production in the wells, and working with joint venture partners, this month it has retained Global Hunter Securities and Knight Capital to advise the Company in selling certain properties in the Eaglebine and Eagle Ford trend in Texas.
Lucas Energy anticipates soliciting bids for the properties and hopes to close on a transaction in the next three months. Each of these areas has seen similar transactions closed in 2011, and it’s likely that 2012 will see similar transactions especially with elevated oil prices and a stable economy, for Lucas Energy this could be significant considering relatively similar acres sold for between $14,000-$21,000/acre in 2011. Lucas Energy stock current share price is $3.10.
Lucas Energy CEO William Sawyer is a proven hands-on energy executive with over 35 years of diversified experience in the energy industry with firms such as ARCO, Houston Oil & Minerals, The Superior Oil Company, and Energy Resources Company (ERCO). He founded the petroleum consulting firm of Exploitation Engineers, Inc. in 1980; The firm of Plantation Petroleum Corporation in 1981; and Lucas Energy, Inc. in 2004. As a registered professional engineer (now called a licensed professional engineer), Mr. Sawyer has provided petroleum consulting services to private investors, independent oil companies, banking institutions, major energy and chemical companies, and the US government.
For more information and insight on Eagle Ford Shale, Eaglebine and Austin Chalk formations, listen to the show or watch our Tuesday February 28 broadcast of the business talk radio program ‘The Bill Chippas Show ‘with William Sawyer CEO of Lucas Energy at 10:05 AM WPSLTV (http://www.wpsltv.com ) or visit http://www.billchippasshow.com and http://princetonresearch.com .
Rule 17B Requirements — Disclosure of Payment for Investor Relations– Princeton Research receives about $2,500 per month from Lucas Energy (LEI) for investor releations.
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