HOUSTON, Nov. 14, 2012 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company (the "Company" or "Lucas"), today announced that the Company has filed its Form 10-Q Quarterly Report for the 2nd Quarter of fiscal year 2013. Key elements of activity for the 2nd Quarter of the 2013 fiscal year include: (1) increases of 182% and 102% in net operating revenues for the three and six months ended September 30, 2012, respectively, to $2.7 million and $4.5 million for the three and six months ended September 30, 2012, compared to $1.0 million and $2.2 million for the three and six months ended September 30, 2011, respectively; (2) $7.1 million of cash provided by financing activities for the six months ended September 30, 2012; and (3) increases of 155% and 103% in net barrels of crude oil sales for the three and six months ended September 30, 2012, respectively, compared to the same periods for the previous fiscal year. The entire copy of the Form 10-Q filing is available on the SEC's Edgar website.
About Lucas Energy, Inc.
Lucas Energy, Inc., a Nevada corporation, is an independent oil and gas company based in Houston, Texas. The Company acquires underdeveloped oil and gas properties, restores production to the properties, and looks for underlying value. Currently, the Company is active in the Austin Chalk, Eagle Ford, Eaglebine, and Buda trends. Our goal for the current year is production and revenue growth, and expansion of our asset base using joint ventures.
For more information on this and other activities of the Company, please visit the Lucas Energy web site at www.lucasenergy.com.
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This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Act") and Section 21E of the Securities Act of 1934, as amended (the "Exchange Act"). In particular, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements and are subject to the safe harbor created by these Acts. Any statements made in this news release about an action, projection, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration and development of oil and gas. These risks include, but are not limited to, completion risk, dry hole risk, price volatility, reserve estimation risk, regulatory risk, potential inability to secure oilfield service risk as well as general economic risks and uncertainties, as disclosed in the Company's SEC filings including its Form 10-K and Form 10-Q's. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company's SEC filings are available at http://www.sec.gov.