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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (43451)	7/21/2011 4:50:23 PM
From: E_K_S	Read Replies (2) of 78470

Re: Lucas Energy, Inc. Common Stock (AMEX: LEI) - increased by 50% Callon Petroleum Company Common (NYSE: CPE) - Closed position Triangle Petroleum Corporation (AMEX: TPLM) - Closed position A few changes to my E&P basket. The basket is now composed of 16 stocks. With oil touching $100/barrel, I closed out CPE (3.53% of basket) for a 4.08% gain and TPLM (2.15% of basket) for a 3.07% gain. The proceeds were invested into LEI (which now makes up 7% of my E&P basket). LEI owns parcels (approx 4,400 acres) located in the Eagle Ford shale region contiguous to Petrohawk Energy's land recently purchased by BHP for $22,000 per acre. Lucas is anticipating increasing operated gross production this year due to a new drilling program that includes the Rainey Unit No.1H well currently drilling as a new horizontal well in the Austin Chalk formation. The company is planning at least three new Austin Chalk horizontal wells, and three new Austin Chalk laterals from old well bores. The outside operated Eagle Ford program is anticipated to add another two to three wells. My only other sale in my E&P basket were some shares of LEI on 3/2/2011 for $3.66/share when the stock spiked up on news of a Joint Venture agreement with Marathon Oil (East Texas) LP for the development of the Eagle Ford and Buda formations in Wilson County ( Message 27278537 ). I should get more pop in the basket with BHP and MRO interests operating near LEI's Eagle Ford property. EKS

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