Last €0.47 EUR
Change Today -0.02 / -4.05%
Volume 0.0
As of 1:53 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

lucas energy inc (58L) Snapshot

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€0.45
Previous Close
€0.49
Day High
€0.47
Day Low
€0.45
52 Week High
07/9/13 - €1.18
52 Week Low
04/17/14 - €0.45
Market Cap
14.2M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
30.0M
EX-Date
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P/E TM
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Current Stock Chart for LUCAS ENERGY INC (58L)

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lucas energy inc (58L) Details

Lucas Energy, Inc. operates as an independent oil and gas company in Texas. The company engages in the acquisition and development of crude oil and natural gas from various formations, including the Austin Chalk, Eagle Ford, and Buda formations located primarily in Gonzales, Wilson, Karnes, and Atascosa counties south of the city of San Antonio; and the Eaglebine, Buda, and Glen Rose formations located in Leon and Madison counties north of the city of Houston, Texas. As of March 31, 2013, its estimated net proved reserves were 5.6 million barrels of oil equivalent comprising 5.1 million barrels of crude oil reserves and 2.6 billion cubic feet of natural gas reserves. The company was formerly known as Panorama Investments Corp. and changed its name to Lucas Energy, Inc. in June 2006. Lucas Energy, Inc. was incorporated in 2003 and is based in Houston, Texas.

12 Employees
Last Reported Date: 02/13/14
Founded in 2003

lucas energy inc (58L) Top Compensated Officers

Chief Executive Officer, President, Interim C...
Total Annual Compensation: $150.8K
Compensation as of Fiscal Year 2013.

lucas energy inc (58L) Key Developments

NYSE MKT Grants Extension To Lucas Energy, Inc. To Regain Compliance

Lucas Energy, Inc. announced that the NYSE MKT (exchange) which accepted the company's plan of compliance dated March 28, 2014, and granted the company until April 14, 2014 to regain compliance under its plan of compliance with Section 1003(a)(iv), extended the date the company is required to regain compliance by to July 31, 2014. Based on information provided by the company, the exchange has determined that, in accordance with Section 1009 of the Company Guide, Lucas has made a reasonable demonstration of its ability to regain compliance by the end of the extended period. Therefore, at this time, the exchange is prepared to continue the listing of the company subject to certain conditions. The company will be subject to periodic review by Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the company being delisted from the NYSE MKT. By July 31, 2014, the company must be in compliance with the exchange's continued listing standards.

NYSE MKT Grants Lucas Energy, Inc. An Extension To Regain Compliance With Continued Listing Standards

Lucas Energy, Inc. announced that the NYSE MKT (Exchange) has accepted the company's plan of compliance and granted the company a conditional extension to regain compliance with the continued listing standards. The determination is contingent upon the completion of the recently-announced participating agreement with an independent operator in the Eagle Ford shale and achieving other milestones outlined in the plan. On February 28, 2014, Lucas received notice from the Exchange, indicating the company was below certain of the Exchange's continued listing standards related to its existing financial resources or financial condition as set out in Part 10 of the NYSE MKT Company Guide. The company was afforded the opportunity to submit a plan of compliance to the Exchange, and on March 14, 2014, Lucas presented its plan to the Exchange. On March 31, 2014, the Exchange notified the company that it had accepted the company's plan of compliance and granted the company a conditional extension until April 14, 2014 by which the company is required to regain compliance with Section 1003(a)(iv) of the NYSE MKT Company Guide and/or demonstrate adequate progress to that end. The company will be subject to periodic review by Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the company being delisted from the NYSE MKT.

Lucas Energy, Inc. Announces the Joint Drilling Agreement

Lucas Energy, Inc. announced a Letter of Intent ("LOI") for a Participation Agreement with a private independent operator to farm out approximately 400 acres on its Karnes County Eagle Ford leasehold. Under the LOI, Lucas will receive a payment of $1 million, payable in four monthly installments of $250,000, and the operator will drill an initial horizontal well in exchange for a 75% working interest. Also, Lucas will retain a 25% carried working interest, under which the operator will bear 100% of the drilling costs, estimated at $2 million. In the remaining acreage, Lucas will retain a 75% working interest and the operator will have a 25% working interest. The final terms and conditions are currently being negotiated and are subject to the final signed Joint Operating Agreement.

 

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