Exploration & Production
Lucas Energy Struggles to Find Interest in Eagle Ford and Eaglebine Properties
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Lucas Energy, 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…
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