This is a lateral well in the Austin Chalk formation which will be drilled and completed within 2-4 weeks.
Drilling of another new Austin Chalk well is anticipated to start within the next month, and another new Austin Chalk lateral will commence subsequent to the completion of the Louis Zavadil No.2HST well.
Initial potential production from the drilling program ranges between 100 BOPD (bbls of oil per day) and 500 BOPD.
Lucas Energy president and chief executive officer William A. Sawyer said, "Drilling of new wells has improved our gross operated production from 200 BOPD in the first half of the last fiscal year to 500 BOPD in the last month of fiscal year 2012 (March 2012)."
The company has drilled two new Austin Chalk wells and three new Austin Chalk laterals from old well bores over the past six months.
