Shares of Lucas Energy Inc (NYSE: LEI), engaged in the acquisition and development of crude oil and natural gas, recorded over 31.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session LEI gained 31.3% and closed at $0.21, while recording significant trading volumes of 6.3 million shares. Recently, LEI announced that it has executed a letter of intent and term sheet for a proposed business combination between Lucas Energy (LEI) and Victory Energy (OTCQX: VYEY). During the past 5-trading sessions, LEI gained 100.0% with daily average trading volumes of 3.1 million shares, while the stock accumulated 90.9% gain during the past one month with daily average trading volumes of 989,566 shares. The stock is up 71.4% year-to-date.
Company Description:
Lucas Energy, Inc. (NYSE: LEI) explores for oil and natural gas in the United States.
1-Year Stock Chart:
Source: Bloomberg
