HOUSTON, Oct. 29, 2008 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (AMEX:LEI - News) (``The Company''), a U.S. based independent oil and gas company announced it has completed the lateral extension to the Hagen Ranch No. 3 well in Gonzales County, TX.

The Company has completed the drilling and testing of an extension of the lateral of the Hagen Ranch No.3 well in the Austin Chalk formation. The initial production rate of the new lateral was 175 BOPD (barrels of oil per day) and 23 BLWPD (barrels of load water, drilling water) on pump. Testing is now completed and the well is now producing at a rate of 84 BOPD with 35 MCFPD and no water. In slightly less than two weeks since the lateral was completed the well has produced over 1,100 barrels of oil.

The Hagen Ranch No.3 was originally drilled in 1994 with a horizontal extension to the northwest. The original well tested at 75 BOPD, 10 MCFPD (thousand cubic feet of natural gas per day), and 125 BLWPD at the time of completion. Lucas Energy, Inc. acquired the well as part of a nine well package in August 2006.

The lateral to the northwest made 12,718 barrels of oil through September 2007 when the Company decided to plug the northwest lateral and drill a lateral to the southeast. During the drilling of the lateral to the southeast, virgin reservoir pressure was encountered in the Austin Chalk formation, and the decision was made to stop the drilling early in order to acquire more acreage which had either shut in or plugged and abandoned wells in the area. The initial portion of the southeast lateral was drilled to a total depth of 9570 feet including the horizontal section that extended 826 feet out from the vertical well bore. The lateral now extends an additional 1,300 feet from the well bore.

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 intensive 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

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
           713-654-4009
           bholmes@lucasenergy.com
         W.A. Sikora, CEO
           713-528-1881