Lucas Energy, Inc. has agreed to participate in the drilling of two wells in Madison County, Texas with an independent operator. The wells will be drilled to a vertical depth of approximately 12,000 feet targeting the Buda and Glen Rose horizons as well as other prospective formations which may be encountered.
The operator is experienced in the area, and the wells are located near the Ferguson Prison Unit where several of the better Buda-Rose comingled vertical wells have been completed. Lucas is contributing slightly more than 100 net mineral acres to the drilling units with working interests averaging approximately 8% in each well. The Company anticipates there will be future drilling on the unit.