HOUSTON, Oct. 13, 2008 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (AMEX:LEI - News), a U.S. based independent oil and gas company has secured a revolving credit facility with Amegy Bank (NasdaqGS:ZION - News).

The revolving line of credit and letter of credit facility has a maximum note amount of $100,000,000, but is initially limited to a borrowing base of $3,000,000. The borrowing base will be periodically re-determined based on reserve growth of Lucas Energy. The revolving credit facility is available to: a) finance the development/acquisition of oil and natural gas properties; b) provide working capital; c) support the issuance of letters of credit; and d) for other general corporate purposes.

Kenneth R. Batson, III, Vice President of Amegy, commented, ``Amegy Bank is pleased to support the activities of Lucas Energy with this new revolving credit facility. The partnership between Amegy and Lucas Energy should provide the basis for the development of a long-lasting business relationship.''

W.A. Sikora, CEO of Lucas Energy, stated, ``The Amegy Bank credit facility is a major step forward for Lucas Energy since it will enable us to supplement present cash flow with additional funds to support our continuing lateral drilling and rework programs on the underperforming, overlooked and shut-in wells which are presently in our portfolio. The opportunity to accelerate this low risk program to increase reserves, production and cash flow, despite the recent downturn in crude oil prices, will strengthen our financial position, growth initiatives and objective to increase shareholder value during a period of economic uncertainty.''

James J .Cerna, Chairman of Lucas Energy, added, ``We are pleased to be connected with a strong financial institution such as Amegy. It is a testament to both companies' strengths to be able to close this facility during a time when the credit markets are frozen. The low cost of capital to Lucas shows the quality of its assets and the strength of the company's financial position.''

An 8-K containing details of this transaction will be made available on http://www.sec.gov.

About Lucas Energy

Lucas Energy, Inc. (AMEX:LEI - News) is an independent crude oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying underperforming oil and gas assets, which are revitalized through a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its reserve base and cash flow while significantly reducing the risk of traditional exploration projects. The Company's headquarters are located at 3000 Richmond Avenue, Suite 400, Houston, Texas 77098.

The Lucas Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4192

About Amegy Bank

Amegy Bank is one of the fastest growing banks in Texas. With assets of more than $12 billion, local decision making and a history of relationship banking, Amegy has the resources to serve leading Texas companies as a source of capital as well as provide efficient and effective treasury management, international and investment services. The Bank, with more than 85 locations in the greater Houston, Dallas and San Antonio metropolitan areas, specializes in small business banking as well as private financial management and trust services for families and individuals, and retail and mortgage banking services. Amegy is a part of the Zions Bancorporation (NasdaqGS:ZION - News) collection of great banks.

Forward-Looking Statement

This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words ``expects,'' ``projects,'' ``plans,'' ``feels,'' ``anticipates'' and certain of the other foregoing statements may be deemed ``forward-looking statements.'' Although Lucas Energy believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors. The complete filing is available at http://www.sec.gov

          Lucas Energy, Inc.
          Investor Relations
          Brad Holmes
            713-654-4006
            bholmes@lucasenergy.com
          W.A. Sikora, CEO
            713-528-1881
            wasikora@lucasenergy.com