Lucas Energy Announces Internal Review of Eagle Ford Potential

Lucas Energy, Inc.

today announced that the Company has performed an internal review of its Eagle Ford oil and gas potential with the assistance of an independent petroleum engineering firm. As a result of the review, it is the opinion of the Company that total potential (proved, probable, and possible reserves) for the Eagle Ford properties exceed the 3.7 million proven bbls (barrels) of oil as determined by the Company's independent petroleum engineers. Lucas believes that the total potential oil, net to Lucas, may be closer to 14.5 million bbls of oil. This would indicate a PV10 present value of more than $275 million for the total potential for the Eagle Ford properties. Potential quantities of oil and the estimate of net present value are not an indication of fair market value of the properties. The Company may use these numbers to evaluate offers by potential buyers, determine potential asset value in the future, or to assist in the decision as to whether to develop properties or sell them at the market. In making decisions to purchase oil and gas properties, larger companies may consider all potential oil quantities (proven, probable, and possible reserves). Further, larger companies, who determine their proven reserves in-house, may classify probable and possible reserves as proven due to their ability to financially develop the properties, and their subjective opinion as to the reserve category. William A. Sawyer, President and Chief Executive Officer of the Company said, "Lucas is steadfast in moving its Eagle Ford sale forward. It is still our belief that the cash value of the properties is more beneficial to the Company and to overall shareholder value, than the undeveloped potential of the properties, whether proven or not."