HOUSTON, April 2, 2013 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE:LEI), an independent oil and gas company with main operations in Texas, today announced that it has entered into a Settlement and Release Agreement with Nordic Oil USA 1, LLLP in which the parties have agreed to terminate their October 13, 2011 purchase and sale agreement. The amicable settlement resolves litigation filed by Nordic seeking payment of the principal, accrued interest, attorney's fees and other damages relating to a $22 million, 6% promissory note due November 17, 2012 that had been issued by Lucas.
Lucas Energy Settles Legal Lawsuit, Eliminating $24M In Related Obligations
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