Lucas Energy, Inc. announced that it has completed the previously announced settlement agreement with Seidler Oil & Gas, L.P. Effective April 8, 2013, the company received all of the required private investor releases; paid Seidler related legal fees; and returned approximately $1.3 million in prior investments to its investors. As a result of the above, the Seidler litigation matter is completely settled, Seidler released the company, its current and past officers, directors and agents from associated claims and Seidler has agreed to dismiss the previously filed lawsuit with prejudice. In addition, the private investors also agreed to release the company, Seidler, and their respective past and present affiliates from any and all claims.

Effective April 4, 2013, Lucas Energy, Inc. appointed William J. Dale as the company’s Chief Financial Officer, Treasurer and Secretary. Prior to joining the company, Mr. Dale served as a finance and account consultant to various entities in the oil and gas industry (including the company) from March 2012 to April 2013.

Lucas Energy, Inc. announced that it has entered into a Settlement and Release Agreement with Nordic Oil USA 1, LLLP in which the parties have agreed to terminate their October 13, 2011 purchase and sale agreement. The amicable settlement resolves litigation filed by Nordic seeking payment of the principal, accrued interest, attorney's fees and other damages relating to a $22 million, 6% promissory note due November 17, 2012 that had been issued by Lucas. In summary, Lucas has agreed to pay Nordic a total of $1.1 million over the next six months and has assigned certain oil and gas interests to Nordic. The assets assigned represent less than 18% of Lucas' total proved reserves and less than 5% of its current production. Lucas also provided an update concerning its previously announced Settlement Agreement with Seidler Oil & Gas, L.P. The settlement is conditioned upon receipt of executed releases from certain private investors prior to March 31, 2013. Despite active efforts, Lucas has not yet received all of the necessary releases to close on the settlement. Lucas remains in close contact with Seidler Oil & Gas and is confident it can secure the required releases in the near future.