ROTH Capital Partners Acts as Financial Advisor on the Merger
between Lucas Energy, Inc. and Segundo Resources, LLC

For more information please contact:

Investment Banking
Alexander Montano
Managing Director
(949) 720-5770
amontano@roth.com


Otilia (Tilin) Chen
Director
(949) 720-5783
tchen@roth.com

 

Dustin F. Cabrera
Analyst
(949) 720-7136
dcabrera@roth.com

Transaction Information

Lucas Energy, Inc. (NYSE MKT: LEI) has completed its acquisition of working interests and producing properties in Texas and Oklahoma from Segundo Resources, LLC (“Segundo”). This is Lucas Energy, Inc. first entrée into Central Oklahoma and West Texas. The assets currently produce over 1,000 net barrels of oil equivalent per day, of which 53% are liquids primarily produced from the Hunton formation. As part of the transaction, the Company entered into a $40 million loan agreement with the International Bank of Commerce of San Antonio (“IBC”).

 

Commenting on the transaction, “Lucas has taken significant strides in restructuring its organization and positioning itself to succeed in a depressed commodity price environment,” said Alexander Montano, Managing Director of Oil and Gas Investment Banking at ROTH Capital Partners. “This acquisition marks a significant milestone in the Company’s transition from a turnaround story to a growth platform. The Company will continue to identify strategic acquisitions to create shareholder value.”

 

ROTH Capital Partners acted as exclusive financial advisor to Segundo Resources, LLC.

 

About Segundo Resources
Based in San Antonio, Texas, Segundo Resources is a private partnership with interests in certain non-operated oil and gas assets in Central Oklahoma and West Texas. (Source: Preliminary Revised Proxy Statement | July 20, 2016) (Source: Company Press Release | 9/16/16)

 

About Lucas Energy
Based in Houston, Texas, Lucas Energy (NYSE MKT: LEI) is a growth-oriented, independent oil and gas company engaged in the development of crude oil, natural gas and natural gas liquids in the Hunton formation in Central Oklahoma in addition to the Austin Chalk and Eagle Ford formations in South Texas. (Source: Press Release | August 31, 2016)

 

About ROTH Capital Partners

ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S.  For more information on ROTH, please visit www.roth.com.

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The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2016.