SOURCE: Wall Street News Alert

June 21, 2006 09:43 ET

Stock on the Move: LUCE Announces Acquisition of a 100 Acres Oil and Gas Property! June 21, 2006

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- June 21, 2006 -- Wall Street News Alert's "stocks to watch" this morning are: Lucas Energy, Inc. (OTCBB: LUCE), Petrohawk Energy Corporation (NASDAQ: HAWK), Patterson-UTI Energy, Inc. (NASDAQ: PTEN) and CONSOL Energy Inc. (NYSE: CNX).

Aggressive investors and day traders should start watching Lucas Energy, Inc. (OTCBB: LUCE) this morning! The stock just recently began trading and yesterday after the stock markets closed, the company issued a press release announcing its acquisition of a 100.86 acres oil and gas property: the Mahlmann Lease Prospect (Big Creek Dome Area), located in Fort Bend Country, Texas.

News of the acquisition should get the attention of investors! The objective of the project is to re-enter the well and produce from the Vicksburg sand formations. The Mahlmann lease covers other producing horizons such as the Miocene (1,800+'), Frio (2000+'), Vicksburg (6,000+), Yegua (7,500+) and Wilcox (sub-salt 12,000-15,000) formations. These formations also are found in several fields around the Dome in Ft. Bend County, Texas. It is estimated that the re-entry well could produce 80,000 Bbls of oil from each of the upper Vicksburg sands.

Continue to watch this company! The agreement also provides the potential to drill and produce additional new wells on the lease property that are on the same contour or horizon. This is permitted on the Salt Dome where there are no spacing limitations imposed by the State.

Wall Street News Alert is placing Aggressive Investors on alert to monitor the progress of Lucas Energy! The Big Creek Dome field was discovered by Gulf Oil and The Texas Company (Texaco) in the late '30s and has produced over 7.9 million barrels of oil and more than 2 Bcf of gas from primarily wells at above 2,000 feet.

"The Mahlmann lease acquisition is another significant step forward for Lucas Energy. I am pleased by the steady progress that our Company is making towards building a quality energy portfolio which in turn will contribute to a healthy bottom line and balance sheet," stated CEO James Cerna, Jr., Lucas Energy, Inc.

Prior to the latest press release, the stock closed yesterday at $1.80 a share.

For an in-depth profile of Lucas Energy, Inc., visit

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In case you are not familiar with the company: Lucas Energy is an oil and gas company that is building a diversified portfolio of high value oil and gas assets in the United States. Founded in 2004, Lucas Energy began by identifying underdeveloped oil and gas operations that represented strong potential for development. In May of 2005, the company completed its first acquisition, located in the Pilgrim Field, Gonzales County, Texas. The Company's headquarters are located at 3000 Richmond Avenue, Suite 400, Houston, Texas 77040.

Petrohawk Energy Corporation (NASDAQ: HAWK) down 1.3% on 2.6 million shares traded.

Petrohawk Energy Corporation is an independent oil and gas company engaged in the acquisition, development, production and exploration of natural gas and oil properties located in North America.

Patterson-UTI Energy, Inc. (NASDAQ: PTEN) down 4.3% on 3.9 million shares traded.

Patterson-UTI Energy, Inc. provides onshore contract drilling services to exploration and production companies in North America.

CONSOL Energy Inc. (NYSE: CNX) down 1.7% on 2.6 million shares traded.

CONSOL Energy Inc., through its subsidiaries, is the largest producer of high-Btu bituminous coal in the United States. CONSOL Energy has 17 bituminous coal mining complexes in six states.


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