8-K 1 lucas8k102411.htm LUCAS ENERGY, INC. FORM 8-K DATED OCTOBER 24, 2011 lucas8k102411.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)    October 24, 2011
 
 
 Lucas Energy, Inc.
(Exact name of registrant as specified in its charter)
 
Nevada
001-32508
98-0417780
(State or other jurisdiction of incorporation)
(Commission File
Number)
(I.R.S. Employer Identification No.)

3555 Timmons Lane,
Suite 1550, Houston, Texas
77027
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code (713) 528-1881
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 

 
All statements that are included in this Report and the attachments hereto, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve known and unknown risks, assumptions, uncertainties, and other factors. Statements made in the future tense, and statements using words such as “may,” “can,” “could,” “should,” “predict,” “aim’” “potential,” “continue,” “opportunity,” “intend,” “goal,” “estimate,” “expect,” “expectations,” “project,” “projections,” “plans,” “anticipates,” “believe,” “think,” “confident” “scheduled” or similar expressions are intended to identify forward-looking statements. Forward-looking statements are not a guarantee of performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and are beyond our control. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. We caution you not to place undo reliance on the forward-looking statements, which speak only as of the date of this report. We disclaim any obligation to update any of these forward-looking statements as a result of new information, future events, or otherwise, except as expressly required by law.


ITEM 7.01 REGULATION FD DISCLOSURE.
 
Lucas Energy, Inc. (the “Company”) is filing a Presentation that it plans to present to certain third parties in the near future, which information includes the Company’s current business strategy and projected gross production. A copy of the Presentation is being furnished as Exhibit 99.1 to this Form 8-K.
 
The information responsive to Item 7.01 of this Form 8-K and Exhibit 99.1, attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

EXHIBIT NO.
DESCRIPTION
   
99.1*
PowerPoint Presentation
   

* Filed herewith.


Signature
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
LUCAS ENERGY, INC.
   
 
By: /s/ K. Andrew Lai
 
Name:  K. Andrew Lai
 
Title:   Chief Financial Officer

Date: October 24, 2011
 
 
 
 
 
 
 
 
 
 
 

 
 
 

 
EX-99.1 2 ex99-1.htm POWERPOINT PRESENTATION ex99-1.htm
Exhibit 99.1
 
 
Lucas Energy, Inc.
Presentation
October 2011
NYSEAmex: LEI
 
 
 

 
 
 
 
 
 

 
 
 
Certain statements made during this presentation are forward-looking and are subject to risks and uncertainties.  The forward-looking statements made are based on our beliefs, assumptions and expectations of future performance, taking into account all information currently available to us.  Actual results could differ materially from the forward-looking statements made during this presentation.  When we use the words "believe," "expect," "anticipate," "plan," "will," "intend" or other similar expressions, we are identifying forward-looking statements.  The forward-looking statements made during this presentation are subject to the safe harbor of the Private Securities Litigation Reform Act of 1995.  We refer you to our filings with the Securities and Exchange Commission for a more detailed discussion of the risks that may have a direct bearing on our operating results, performance and financial condition.
 
 

 
 
 
January 2009                                           October 2011
 
Stock Price                                ˜ $0.44/share                                           ˜ $1.89/share
 
Ave daily volume (3 mo)                                           ˜ 19,000 shares/day                                            ˜ 278,000 shares/day
 
Shares outstanding                                           ˜ 8 million shares                                            ˜ 19.5 million shares
 
Shares in float                                           ˜ 2-3 million shares                                           ˜ 15 million shares
 
Shareholders                                           ˜ 500                                ˜ 7,500
 
 

 
 
 
 
Ø  
Acquire acreage with low producing, shut in, or abandoned wells.
Ø  
Improve production from old wells.
Ø  
Look for underlying potential.
Ø  
Develop underlying potential if within LEI budget.
Ø  
Seek joint venture partners for larger cost development projects.
 
 

 
 
 
Net profit over $1.2 million on a $120,000 investment.  Well is still making about
10 BOPD  today.
 
 
 
 
 

 
 
 
 
Rainey Unit No.1H
 
 
 
 
 

 
 
 
 
 
 
 
 
Hagen EF No.1H & No.2H
 
 

 
 
 
 
 
assets
Ø  
Austin Chalk/Eagle Ford Trend – Atascosa, Gonzales, Karnes, Wilson, Jasper, & Sabine Counties, Texas.
Ø  
About 20,000 gross acres in Texas.
Ø  
Almost 100% interest in Austin Chalk and above.
Ø  
About 4,400 net acres in Eagle Ford.
 
 
 

 
 
 
focus
 
 
 
 
 
 

 
 
 
 
joint ventures
Ø  
Marathon Oil Company
 
Ø  
 Seidler Oil & Gas
 
Ø  
 Various foreign groups
 
 

 
 
 
 
 
2011-12 capital goals
Ø  
Sell New Mexico interests.
Ø  
Sell Eagle Ford interests.
Ø  
Buy our Nordic 1 interests.
Ø  
Raise $20 million in small joint ventures.
Ø  
Raise $100-300 million in a large joint venture.
Ø  
Drill new Austin Chalk laterals from old well                                                                                 bores.
Ø  
Drill new Austin Chalk wells.
 
 
 

 
 
 
 
 
progress to date
Ø  
Sold New Mexico interests for $4 million.
Ø  
Concluding Nordic 1 buyout.
Ø  
Raised approximately $2 million in small  joint                                                                                 venture capital.
Ø  
Drilled 1 new Austin Chalk lateral.
Ø  
Drilled 1 new Austin Chalk well.
Ø  
Drilling 1 new Austin Chalk lateral.
 
 

 
 
 
 
 
new mexico interests
Ø  
Sold to Nordic 2.
Ø  
Sales price - $4 million.
Ø  
Original  acquisition cost - $2 million.
Ø  
Adjustments - $0.9 million.
Ø  
Net proceeds - $3.1 million.
Ø  
55% profit in less than one year.
 
 
 

 
 
 
 
 
 
 
nordic 1 buyout
Ø  
Acquiring all working interests of Nordic 1.
Ø  
Gonzales, Karnes, and Wilson Counties, Texas.
Ø  
Lucas is current operator.
Ø  
Austin  Chalk and Eagle Ford interests.
Ø  
$22 million in the form of a non-recourse note.
Ø  
Awaiting approval of Nordic 1 shareholders.
 
 

 
 
 
 
 
 
rainey unit no. 1h
Ø  
New Austin Chalk well.
Ø  
Partners with Seidler, and others.
Ø  
LEI has about 30% working interest.
Ø  
Produces approximately 80-100 BOPD.
Ø  
Pumping well.
 
 
 

 
 
 
 
 
 
milton hines no. 1hst
Ø  
New Austin Chalk lateral from an old well bore.
Ø  
Previous lateral caved in.
Ø  
LEI has 100% working interest.
Ø  
Produces approximately 80-100 BOPD.
Ø  
Pumping well.
 
 

 
 
 
 
 
kuntschik no. 1hst
Ø  
New Austin Chalk lateral from an old well bore.
Ø  
Extending lateral out further.
Ø  
Partners are Seidler, and others.
Ø  
About to kick off lateral.
 
 
 

 
 
 
 
 
 
gross production
§  
Year 2010-11 – 56,813 (156 BOPD).
§  
1st qtr 2011-12 – 195 BOPD.
§  
2nd qtr 2011-12 – 193 BOPD.
§  
October to date – 270 BOPD.
§  
Forecast – 300 BOPD average for last 6 months.
§  
Target – end year at 500 BOPD.
 
 

 
 
 
 
 
annual volumes
2011-12 is estimated based on 300 bopd last 6 months
 
 

 
 
 
 
 
market factors
Ø  Trade on NYSE Amex as LEI
Ø  Outstanding Shares:  19.5 million
Ø  Average daily volume: 278,627 (3 mo)
Ø  52 week hi/low: $5.23 / $1.04
Ø  Market cap: $36.5 million at 10/19/11
Ø  Debt: None
Ø  Fiscal Year: March 31
Ø  Annual Meeting: December
 
 
 

 
 
 
 
 
 
net oil revenues
 
 

 
 
 
 
 
 
 
cash inflows
 
 
 

 
 
 
 
 
contact info
Corporate Office
3555 Timmons Lane, Suite 1550
Houston, Texas 77027
Tel (713) 528-1881        Fax (713) 337-1510
www.lucasenergy.com