Lucas has entered into a joint venture agreement with Seidler O&G. Lucas will be the operator under the joint venture relationship, and expects to drill approximately eight (8) new Austin Chalk wells, or new laterals in existing wells, during the 2011 calendar year. This new joint venture will be along standard industry terms, and will relate to both acreage currently held by Lucas, and newly acquired acreage.
"Lucas is pleased to have Seidler as a joint venture partner for its LEI 2011 Drilling Program in the Gonzales County, Texas area," commented William A. Sawyer, President and CEO of Lucas Energy, who continued, "We anticipate a long relationship with Seidler Oil & Gas, LP."
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