Earnings: Lucas Energy Reduce Losses $:LEI

Lucas Energy, Inc., an independent oil and gas company, has announced the annual results for FY-2014~15.

The results shows fall in Losses by 9.4% to $5.1 Million or $0.15 per share and Total Revenues Down by 43% to $3.0 Million.

Fiscal Year 2015 Highlights vs. Fiscal Year 2014

Total revenues down by 43% to $3.0 million from  $5.2 million YoY
Lease operating expenses of $1.5 million Down to $0.8 million by 34%, from $2.2 million.

General and administrative expenses down by 13$ to $0.4 million

Production Volume Down by 28% to 38,076 BOE

Fiscal Q4 2015 Highlights vs. Same Year-ago Quarter

Net operating revenues were $0.4 Million down from $1.1 million
Net Loss of $1.1 Million ($0.03 per share) down from loss of $1.3 million or ($0.04) per share

General and administrative (G&A) expenses of $0.6 million down by 24.8%.

View the full earnings release here.