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Home > (LEI, MJGCF.PK, BLKB, ,SHLM, ALKS) Stocks Report by BestOtc.com

(LEI, MJGCF.PK, BLKB, ,SHLM, ALKS) Stocks Report by BestOtc.com

September 23rd, 2011 at 03:12 pm
















Lucas Energy, Inc. (NYSE:LEI) an independent oil and gas company, announced that the Company has completed the Rainey Unit No.1H well in Gonzales County, Texas as a pumping horizontal oil well in the Austin Chalk formation. The well tested 107 barrels of oil per day (BOPD) and 36 barrels of water per day (BWPD) (load water or drilling water, not formation water) pumping. Lucas has approximately a 25% working interest in this well.

The Rainey Unit No.1H well is a new horizontal well drilled with a 3,535 foot lateral through the Austin Chalk "C" zone. The well was put on pump after swabbing and flowing the well for several days. The well has cumulative production of 1,755 barrels (bbls) of oil. Although an Austin Chalk completion, the Rainey Unit No.1H well is on acreage which is located in the newly developed oil leg of the Eagle Ford trend.

William A. Sawyer, President and Chief Executive Officer of the Company said, "The Rainey Unit No.1H horizontal Austin Chalk well completion provides growth to the production and revenues of the Company."

Lucas Energy, Inc. operates as an independent oil and gas company in Texas. It has interests in approximately 12,500 gross acres of oil and gas leases in South Texas, primarily in the Gonzales County and Wilson County, Texas. The company also holds oil and gas interests in the Austin Chalk formation, Buda formation, and Eagle Ford Shale formation. In addition, it operates 30 producing wells. The company is based in Houston, Texas.

For more information on this and other activities of the Company, visit the Lucas Energy web site at www.lucasenergy.com.

Read full artical and disclimar at : http://bestotc.com/18369/stock-alerts/lei-mjgcfpk-blkb-shlm-alks-stocks-report-by-bestotccom/

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