Peter Grunebaum is a recognized leader in the oil and gas business. We are delighted that he has joined our Board and we expect his knowledge, experience and financial insight will service to distinguish Lucas Energy within the public sector. As an outside director, Peter's involvement with Lucas will facilitate, and accelerate the strategic quality of new asset acquisitions in the future
Ferndale, WA (PRWEB) January 29, 2007
"Peter Grunebaum is a recognized leader in the oil and gas business. We are delighted that he has joined our Board and we expect his knowledge, experience and financial insight will service to distinguish Lucas Energy within the public sector. As an outside director, Peter's involvement with Lucas will facilitate, and accelerate the strategic quality of new asset acquisitions in the future," said James Cerna, Lucas Energy CEO.
Lucas Energy's business model calls for the acquisition and revitalization of underperforming or orphan crude oil wells and properties domestically. The company previously announced its seventh acquisition within six months within Gonzalez Texas - Austin Chalk region. The growth in revenues and earnings of Lucas Energy through acquisition of properties is expected to attract the attention of institutional investors and individual investors seeking to build a quality small cap stock portfolio.
Mr. Grunebaum is a graduate of Lehigh University, and in addition with being a board member of Lucas Energy, he is also on the Board of the Prepaid Legal Services, Inc. (NYSE:PPD) and Stonemor Partners LP. (NASDAQ: STON).
The complete financial results for the Company are available on Form 10-QSB at http://www.sec.gov.
LUCAS ENERGY, Inc. (OTCBB: LUCE) (http://www.lucasenergy.com) is an independent crude oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company, a small cap stock, is focused on identifying underperforming oil and gas assets, which are revitalized through a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its asset base and cash flow through its investment portfolio, while significantly reducing the risk of traditional exploration projects. The Company's headquarters are located at 3000 Richmond Avenue, Suite 400, Houston, Texas 77040.
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Lucas Energy to differ materially from those implied or expressed by such forward-looking statements. Lucas Energy assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability of potential customers to pay, and political and economic risks inherent in international trade.
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