Terra Energy & Resource Technologies, Inc. (TEGR.OB) Signs Join Venture with Lucas Energy (LEI) to Develop Oil and Gas Holdings in Texas
Terra Energy & Resource Technologies, Inc. and Lucas Energy, Inc. (AMEX: LEI) today announced the signing of a Memorandum of Understanding (MOU) for a joint venture to realize profits on oil and gas properties in Texas. The MOU creates an architecture whereby LEI’s oil and gas properties are combined with TEGR’s innovative technology and networking capacity, resulting in increased efficiency and productivity. LEI CEO Mr. William Sawyer stated that, "Lucas Energy's strategy is aimed at risk reduction, and we are excited that we can further reduce such risks in developing some of our properties utilizing the cutting edge technologies of…