Last €0.41 EUR
Change Today +0.006 / 1.50%
Volume 0.0
58L On Other Exchanges
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As of 2:02 AM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

lucas energy inc (58L) Snapshot

Open
€0.43
Previous Close
€0.40
Day High
€0.43
Day Low
€0.41
52 Week High
07/25/13 - €1.09
52 Week Low
05/22/14 - €0.33
Market Cap
13.6M
Average Volume 10 Days
600.0
EPS TTM
--
Shares Outstanding
33.4M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
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. It is engaged 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, 2014, the company had leasehold interests in approximately 17,628 gross acres. Its estimated net proved reserves were 5.6 million barrels of oil equivalent comprising 5.0 million barrels of crude oil reserves and 3.3 billion cubic feet of natural gas reserves. Lucas Energy, Inc. is headquartered in Houston, Texas.

11 Employees
Last Reported Date: 06/27/14

lucas energy inc (58L) Top Compensated Officers

Chief Executive Officer, President, Interim C...
Total Annual Compensation: $290.0K
Compensation as of Fiscal Year 2014.

lucas energy inc (58L) Key Developments

Lucas Energy, Inc. Announces Earnings Results for the Fourth Quarter and Year Ended March 31, 2014

Lucas Energy, Inc. announced earnings results for the fourth quarter and year ended March 31, 2014. For the quarter, net operating revenues were $1,150,000 against $1,869,000 a year ago. Loss before income taxes was $1,053,000 against $581,000 a year ago. Net Loss was $1,053,000 or $0.04 per diluted share against $620,000 $0.02 loss per diluted share a year ago. For the year, net operating Revenue was $5,220,000 against $8,247,000 a year ago. Loss before Income Taxes was $4,688,000 against $6,756,000 a year ago. Net Loss was $4,688,000 or $0.16 per diluted share against $6,795,000 or $0.27 per diluted share a year ago.

Lucas Energy Mulls Options

Lucas Energy, Inc. (AMEX:LEI) is evaluating alternatives. Chief Executive Officer, Anthony C. Schnur said, “In the first half of calendar 2014, we began to reposition the company with a more aggressive focus on the Eagle Ford shale, and in the first quarter of calendar 2014, we engaged an investment bank to assist in the review of potential transactions to create a larger entity which should enhance shareholder value. We are actively reviewing numerous strategic alternatives and hope to finalize one or more transactions in the near term."

Lucas Energy, Inc. Enters Into an Amended Letter Loan Agreement and Amended and Restated Promissory Note

Effective on August 29, 2014, Lucas Energy, Inc. entered into an Amended Letter Loan Agreement and Amended and Restated Promissory Note, each effective March 14, 2014, in connection with the August 13, 2013, Letter Loan Agreement entered into between the company and Louise H. Rogers. In connection with the Letter Loan and a Promissory Note entered into in connection therewith, Ms. Rogers loaned the company $7.5 million, which had a balance of approximately $7.3 million as of March 14, 2014. Pursuant to the Amended Letter Loan and Amended Note, the company restructured the repayment terms of the original Letter Loan and Promissory Note to defer monthly amortizing principal payments which began on March 13, 2014, during the period from April 13, 2014 through September 13, 2014, during which six month period interest on the Amended Note will accrue at 15% per annum (compared to 12% per annum under the terms of the original Promissory Note). Additionally, beginning on October 13, 2014, the interest rate of the Amended Note will return to 12% per annum and the company will be required to pay the monthly amortization payments in accordance with the original repayment schedule (which total approximately $205,000 to $226,000, depending on the due date), as well as additional principal amortization payments of approximately $266,000 every three months (beginning October 13, 2014, and ending on July 13, 2015) until maturity, with approximately $3.87 million due on maturity, which maturity date remains August 13, 2015.

 

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