Lucas Energy Closes Final Settlement Eliminating $1.3M in Related Obligations

Lucas Energy, Inc.

("Lucas Energy" or the "Company"), an independent oil and gas company with main operations in Texas, today 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.