Money Info Show
Tuesday October 16, 2012
10 AM TO 11 AM EDT
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The show featured an interview with:
Bill Sawyer, CEO of Lucas Energy, Inc. (Stock Symbol: LEI).
Visit the corporate show: www.LucasEnergy.com
Get LEI Stock Quotes, Trading Charts and News:
Lucas Energy, a Texas based oil & gas production company has announced execution of Joint Venture Term Sheet with Milestone Energy, LLC.
See News: http://finance.yahoo.com/news/lucas-energy-announces-execution-joint-131500009.html
The Joint Venture will develop oil and gas properties located in the Gonzales, Wilson, and Karnes Counties, Texas area of the Eagle Ford/Austin Chalk Trend. The binding provisions of the term sheet call for Milestone to contribute 80% of the cost or value of the acreage to be developed and the Company to contribute 20%, and Milestone will be responsible for 100% of the drilling and completion cost, as well as project generation fees. The Company anticipates Milestone contributing from between $40 million and $100 million to the joint venture pursuant to the terms of a final Participation Agreement.
Lucas Energy acquires low producing, shut in, or abandoned oil wells with underlying potential. Currently, Lucas Energy has acreage in the fast growing Eagle Ford Trend in Central Texas near San Antonio. Lucas has not departed from it base business plan of (1) acquiring wells at a low cost, (2) improving production in the wells, and (3) developing the underlying upside potential with joint venture partners.
The Princeton Research Money info show features where to invest now, stock market, business, economy and financial investment news. Money Info is hosted by Mike King, Charles Moskowitz and Oscar Carboni.