Lucas Energy Announces Update on the Sale of the Eagle Ford and Eaglebine Properties

Lucas Energy, Inc.

today announced that the ongoing activities to sell the Company's Eagle Ford and Eaglebine properties is moving forward at this time. Global Hunter is maintaining an active interest list in which there are five top prospects, of which one has visited the offices of Lucas to review the corporate technical presentation. There are additional parties which have expressed an interest in the properties but which have not visited the data room yet. Lucas is continuing to make contact with potential buyers for the properties. Although the sale process has been slow, the Company is still optimistic that a transaction will occur in the near future. There are several reasons why the process has been slow. First, the calendar year first quarter is a time when most oil and gas companies are preparing end of year financial statements and reserves, and do not focus on acquisitions. Second, recent Pearsall Shale activity in the area of the Lucas properties has caused the Company to look at the potential benefit to the Lucas property sale. Third, Interest shown by other parties to joint venture with Lucas on the Eagle Ford and Eaglebine properties has led to discussions in that direction. Finally, activity in the Eaglebine area appears to be gaining momentum which could render the Lucas Eaglebine properties more valuable than originally anticipated.