UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 2007

                         Commission File Number: 0-51414


                               LUCAS ENERGY, INC.
             (Exact name of registrant as specified in its charter)

            Nevada                                               98-0417780
  (State or other jurisdiction                                (I.R.S. Employer
of incorporation or organization)                            Identification No.)

                             3000 Richmond Ave. #400
                                Houston, TX 77098
               (Address of principal executive offices) (Zip Code)

                                 (713) 528-1881
              (Registrant's telephone number, including area code)

              (Former name, former address, and former fiscal year
                         if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act) Yes [ ] No [X]

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

              Class                              Outstanding as of July 29, 2007
              -----                              -------------------------------
Common Stock, par value $.01 per share                       29,792,429

Transitional Small Business Format (check one): Yes [ ] No [X]
<PAGE>
               LUCAS ENERGY, INC. QUARTERLY REPORT ON FORM 10-QSB

                         FOR THE QUARTERLY PERIOD ENDED

                                  JUNE 30, 2007

                                TABLE OF CONTENTS

                                                                            Page
                                                                            ----

PART I FINANCIAL INFORMATION

Item 1. Financial Statements                                                  3

     -  Consolidated Balance Sheets as of June 30, 2007 and
        March 31, 2007 (unaudited)
     -  Consolidated Statement of Operations for the three months ended
        June 30, 2007 and 2006 (unaudited)
     -  Consolidated Statement of Shareholders' Equity for the three
        months ended June 30, 2007 (unaudited)
     -  Consolidated Statement of Cash Flows for the three months ended
        June 30, 2007 and 2006 (unaudited)
     -  Notes to Financial Statements

Item 2. Management's Discussion and Analysis of Financial Condition          10
        and Results of Operations

Item 3. Quantitative and Qualitative Disclosures about Market Risk           13

Item 4. Controls and Procedures                                              13

PART II OTHER INFORMATION

Item 1. Legal Proceedings                                                    14

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds          14

Item 3. Defaults Upon Senior Securities                                      14

Item 4. Submission of Matters to a Vote of Security Holders                  14

Item 5. Other Information                                                    14

Item 6. Exhibits                                                             14

Signatures                                                                   15

                                       2
<PAGE>
                         PART I - FINANCIAL INFORMATION

                               LUCAS ENERGY, INC.
                           CONSOLIDATED BALANCE SHEETS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                       June 30, 2007         March 31, 2007
                                                                       -------------         --------------
<S>                                                                    <C>                    <C>
                                     ASSETS

CURRENT ASSETS
  Cash                                                                 $    372,846           $    710,018
  Marketable securities                                                      40,000                     --
  Oil and gas receivable                                                    175,930                131,485
  Other current assets                                                       59,845                 70,823
                                                                       ------------           ------------

      Total Current Assets                                                  648,621                912,326
                                                                       ------------           ------------
OIL AND GAS PROPERTIES, full cost method
  Properties subject to amortization                                      9,945,857              9,623,745
  Properties not subject to amortization                                         --                     --
  Accumulated depletion                                                    (217,618)              (166,204)
                                                                       ------------           ------------
      Oil and Gas Properties, net                                         9,728,239              9,457,541
                                                                       ------------           ------------

OTHER ASSETS                                                                 63,729                 56,123
                                                                       ------------           ------------

      TOTAL ASSETS                                                     $ 10,440,589           $ 10,425,990
                                                                       ============           ============

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Accounts payable and accrued expenses                                $    337,471           $    386,004
  Accrued interest payable                                                   52,538                 52,766
                                                                       ------------           ------------
      Total Current Liabilities                                             390,009                438,770
                                                                       ------------           ------------
NON-CURRENT LIABILITIES
  Note payable                                                            2,300,000              2,300,000
  Asset retirement obligation                                               114,793                111,022
  Deferred tax liabilities                                                  136,108                132,185
                                                                       ------------           ------------
      Total Liabilities                                                   2,940,910              2,981,977
                                                                       ------------           ------------
STOCKHOLDERS' EQUITY
  Preferred stock, 10,000,000 shares authorized of $0.001 par
   value, no shares issued and outstanding                                       --                     --
  Common stock, 100,000,000 shares authorized of $0.001 par
   value, 29,792,429 shares issued and outstanding                           29,792                 29,792
  Additional paid-in capital                                              7,029,777              7,029,777
  Retained earnings                                                         410,110                384,444
  Unrealized gain on marketable equity securities                            30,000                     --
                                                                       ------------           ------------

      Total Stockholders' Equity                                          7,499,679              7,444,013
                                                                       ------------           ------------

      TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                       $ 10,440,589           $ 10,425,990
                                                                       ============           ============
</TABLE>

                       See notes to financial statements.

                                       3
<PAGE>
                               LUCAS ENERGY, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                For the Three Months Ended June 30, 2007 and 2006
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                     For the Three Months      For the Three Months
                                                                            Ended                     Ended
                                                                        June 30, 2007             June 30, 2006
                                                                        -------------             -------------
<S>                                                                     <C>                       <C>
REVENUES
  Oil and gas revenues                                                  $    494,814              $    138,493
  Consulting income                                                           10,000                        --
                                                                        ------------              ------------
      Total Revenues                                                         504,814                   138,493

EXPENSES
  Lease operating expenses                                                   162,716                    39,081
  Depreciation and depletion                                                  55,185                    21,458
  General and administrative                                                 177,920                    32,364
                                                                        ------------              ------------
      Total Expenses                                                         395,821                    92,903
                                                                        ------------              ------------

INCOME FROM OPERATIONS                                                       108,993                    45,590
                                                                        ------------              ------------
OTHER INCOME (EXPENSES)
  Interest income                                                              3,743                     1,614
  Interest expense                                                           (83,147)                   (3,094)
                                                                        ------------              ------------
      Total Other Expenses                                                   (79,404)                   (1,480)
                                                                        ------------              ------------

NET INCOME BEFORE INCOME TAXES                                                29,589                    44,110

INCOME TAX EXPENSE                                                             3,923                    37,244
                                                                        ------------              ------------

NET INCOME                                                              $     25,666              $      6,866
                                                                        ============              ============

UNREALIZED HOLDING GAIN ON MARKETABLE EQUITY SECURITIES                       30,000                        --

COMPREHENSIVE INCOME                                                          55,666                     6,866
                                                                        ============              ============

INCOME PER SHARE - BASIC AND DILUTED                                    $       0.00              $       0.00
                                                                        ============              ============

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC AND DILUTED         29,792,429                23,780,011
                                                                        ============              ============
</TABLE>

                       See notes to financial statements.

                                       4
<PAGE>
                               LUCAS ENERGY, INC.
                 CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY
                From the Three Month Period Ending June 30, 2007
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                   Unrealized
                                                                                                  holding gain
                           Preferred Stock          Common Stock        Additional                on marketable
                          -----------------      ------------------      Paid-In      Retained       equity
                          Shares     Amount      Shares      Amount      Capital      Earnings     securities     Total
                          ------     ------      ------      ------      -------      --------     ----------     -----
<S>                      <C>       <C>           <C>        <C>           <C>           <C>         <C>         <C>
Balance, March 31, 2007      --      $   --    29,792,429    $29,792    $7,029,777    $384,444      $    --     $7,444,013
                          =====      ======    ==========    =======    ==========    ========      =======     ==========
Net income for the
three months ended
June 30, 2007                --          --            --         --            --      25,666       30,000         55,666
                          -----      ------    ----------    -------    ----------    --------      -------     ----------

Balance, June 30, 2007       --      $   --    29,792,429    $29,792    $7,029,777    $410,110      $30,000     $7,499,679
                          =====      ======    ==========    =======    ==========    ========      =======     ==========
</TABLE>


                       See notes to financial statements.

                                       5
<PAGE>
                               LUCAS ENERGY, INC.
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                For the Three Months Ended June 30, 2007 and 2006
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                         For the Three       For the Three
                                                                         Months Ended        Months Ended
                                                                         June 30, 2007       June 30, 2006
                                                                         -------------       -------------
<S>                                                                        <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Comprehensive income                                                     $  55,666           $   6,866
  Adjustments to reconcile net income to net cash
   used by operating activities:
     Depreciation and depletion                                               55,185              21,458
     Deferred taxes                                                            3,923                  --
     Unrealized holding gain on marketable equity securities                 (30,000)                 --
  Changes in operating assets and liabilities:
     Increase in accounts receivable                                         (44,445)            (30,578)
     Decrease in other current assets                                         10,978               3,057
     Increase in other assets                                                 (7,605)            (25,000)
     Increase (decrease) in accounts payable and accrued expenses            (48,762)            148,401
                                                                           ---------           ---------

          Net Cash Provided by (used in) Operating Activities                 (5,060)            124,204
                                                                           ---------           ---------
CASH FLOWS FROM INVESTING ACTIVITIES
  Proceeds from sale of oil and gas properties                                    --             302,975
  Cash paid for investments                                                  (10,000)                 --
  Purchase of oil and gas property and equipment                            (322,112)           (778,445)
                                                                           ---------           ---------

          Net Cash Used in Investing Activities                             (332,112)           (475,470)
                                                                           ---------           ---------
CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from the sale of common stock                                          --             990,000
  Payment of stock offering costs                                                 --             (49,382)
  Repayment of note payable                                                       --            (125,000)
                                                                           ---------           ---------
          Net cash Provided by Financing Activities                               --             815,618
                                                                           ---------           ---------

NET INCREASE IN CASH                                                        (337,172)            464,352

CASH AT BEGINNING OF PERIOD                                                  710,018              59,232
                                                                           ---------           ---------

CASH AT END OF PERIOD                                                      $ 372,846           $ 523,584
                                                                           =========           =========
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

CASH PAID FOR:
  Interest                                                                 $  83,147           $      --
  Income taxes                                                             $      --           $      --

NON-CASH INVESTING AND FINANCING ACTIVITIES
  None
</TABLE>

                       See notes to financial statements.

                                       6
<PAGE>
                               LUCAS ENERGY, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE 1. BASIS OF PRESENTATION

The accompanying unaudited interim financial statements of Lucas Energy, Inc.
("Lucas") have been prepared in accordance with accounting principles generally
accepted in the United States of America and the rules of the Securities and
Exchange Commission, and should be read in conjunction with the audited
financial statements and notes thereto contained in Lucas's annual report filed
with the SEC on Form 10-KSB for the period ending March 31, 2007. In the opinion
of management, all adjustments, consisting of normal recurring adjustments,
necessary for a fair presentation of financial position and the results of
operations for the interim periods presented have been reflected herein. The
results of operations for interim periods are not necessarily indicative of the
results to be expected for the full year. Notes to the financial statements
which would substantially duplicate the disclosure contained in the audited
financial statements for the most recent fiscal year 2007 as reported in Form
10-KSB have been omitted.

NOTE 2. ORGANIZATION AND BUSINESS OPERATIONS

 Lucas Energy, Inc. ("Lucas") was originally incorporated in the State of Nevada
on April 6, 2005 for the purpose of acquiring and operating certain oil and gas
leases in the state of Texas. Currently, Lucas operates forty-one separate oil
and gas leases. The business is conducted through its wholly-owned operating
subsidiary, Lucas Energy Resources, Inc., which was incorporated on April 6,
2005 in Nevada.

NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.

Lucas's financials are based on a number of significant estimates, including oil
and gas reserve quantities which are the basis for the calculation of
depreciation, depletion and impairment of oil and gas properties, and timing and
costs associated with its retirement obligations.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in banks and financial instruments which
mature within three months of the date of purchase.

CONCENTRATION OF CREDIT RISK

Financial instruments that potentially subject Lucas to concentration of credit
risk consist of cash. At June 30, 2007, Lucas had $272,846 in cash in excess of
federally insured limits. Lucas maintains cash accounts only at large high
quality financial institutions and Lucas believes the credit risk associated
with cash held in banks is remote.

Lucas's receivables primarily consist of accounts receivable from oil and gas
sales. Accounts receivable are recorded at invoiced amount and generally do not
bear interest. Any allowance for doubtful accounts is based on management's
estimate of the amount of probable losses due to the inability to collect from
customers. As of June 30, 2007, no allowance for doubtful accounts has been
recorded and none of the accounts receivable have been collateralized.

FAIR VALUE OF FINANCIAL INSTRUMENTS

As at June 30, 2007, the fair value of cash and accounts and advances payable,
including amounts due to and from related parties, approximate carrying values
because of the short-term maturity of these instruments.

                                       7
<PAGE>
OIL AND GAS PROPERTIES, FULL COST METHOD

Lucas uses the full cost method of accounting for oil and gas producing
activities. Costs to acquire mineral interests in oil and gas properties, to
drill and equip exploratory wells used to find proved reserves, and to drill and
equip development wells including directly related overhead costs and related
asset retirement costs are capitalized.

Under this method, all costs, including internal costs directly related to
acquisition, exploration and development activities are capitalizable as oil and
gas property costs. Properties not subject to amortization consist of
exploration and development costs which are evaluated on a property-by-property
basis. Amortization of these unproved property costs begins when the properties
become proved or their values become impaired. Lucas assesses the realizability
of unproved properties, if any, on at least an annual basis or when there has
been an indication that impairment in value may have occurred. Impairment of
unproved properties is assessed based on management's intention with regard to
future exploration and development of individually significant properties and
the ability of Lucas to obtain funds to finance such exploration and
development. If the results of an assessment indicate that the properties are
impaired, the amount of the impairment is added to the capitalized costs to be
amortized.

Costs of oil and gas properties are amortized using the units of production
method. Amortization expense calculated per equivalent physical unit of
production amounted to $1.03 and $0.89 for the three months ended June 30, 2007
and 2006, respectively.

Under full cost accounting rules for each cost center, capitalized costs of
proved properties, less accumulated amortization and related deferred income
taxes, shall not exceed an amount (the "cost ceiling") equal to the sum of (a)
the present value of future net cash flows from estimated production of proved
oil and gas reserves, based on current economic and operating condition,
discounted at 10 percent, plus (b) the cost of properties not being amortized,
plus (c) the lower of cost or estimated fair value of any unproved properties
included in the costs being amortized, less (d) any income tax effects related
to differences between the book and tax basis of the properties involved. If
capitalized costs exceed this limit, the excess is charged as an impairment
expense.

ASSET RETIREMENT OBLIGATIONS

Lucas follows the provisions of Financial Accounting Standards Board Statement
No. 143, "Accounting for Asset Retirement Obligations" (SFAS No. 143). The fair
value of an asset retirement obligation is recognized in the period in which it
is incurred if a reasonable estimate of fair value can be made. The present
value of the estimated asset retirement costs is capitalized as part of the
carrying amount of the long-lived asset. For Lucas, asset retirement obligations
relate to the abandonment of oil and gas producing facilities. The amounts
recognized are based upon numerous estimates and assumptions, including future
retirement costs, future recoverable quantities of oil and gas, future inflation
rates and the credit-adjusted risk-free interest rate.

                                       8
<PAGE>
REVENUE RECOGNITION

Lucas recognizes oil and natural gas revenue under the sales method of
accounting for its interests in producing wells as oil and natural gas is
produced and sold from those wells. Oil and natural gas sold by Lucas is not
significantly different from Lucas's share of production.

BASIC INCOME PER SHARE OF COMMON STOCK

Basic and diluted net loss per share calculations are presented in accordance
with Financial Accounting Standards Statement 128 and are calculated on the
basis of the weighted average number of common shares outstanding during the
year. Common stock equivalents are excluded from the calculation when a loss is
incurred as their effect would be anti-dilutive. The basic income per share of
common stock is based on the weighted average number of shares issued and
outstanding at the date of the financial statements.

MARKETABLE SECURITIES

Marketable securities consist of an investment in the common stock of Solar
Night, Inc. Equity securities are classified as "available-for-sale" and are
reported at fair value. The investment is publicly-traded and considered liquid.
The unrealized gains or losses on these securities, represented by net changes
in the fair value of the security, are included in accumulated other
comprehensive income as a separate component of shareholder's equity unless the
decline in value is deemed to be other-than-temporary, in which case securities
are written down to fair value and the loss is charged to income.

NOTE 4. NOTES PAYABLE

During the period ended September 30, 2006, Lucas entered into a Promissory Note
in the amount of $2,300,000 with an original maturity date of February 3, 2008.
On June 25, 2007, the maturity date was extended to February 3, 2009. The note
bears interest at a rate of 14.5% per annum due quarterly. The note is held by
private investors and is secured by the assets acquired from the Wilson Oil and
Gas Company on August 8, 2006. Accrued interest on the note at March 31, 2007
totaled $52,700.

NOTE 5. SUBSEQUENT EVENTS

On July 30, 2007, Lucas issued 6,263,494 Units in a private placement for $1.15
per Unit. Lucas received gross proceeds of $7,203,018 (expected net proceeds of
$6,554,746 after payment of placement costs). Each Unit was comprised of one
share of restricted common stock and one common stock purchase warrant. Each
warrant is exercisable at $2.00 per share of common stock for a period of 3
years. The holders of the warrants, at their option, can exercise the warrants
on a cashless basis. Lucas issued 563,714 warrants to purchase common stock to
the placement agent with an exercise price of $2.00 per share for a period of 3
years with a value of $580,202.

The relative fair value of the Common Stock and the Common Stock Purchase
Warrants was as follows:

                                                             Relative Fair
         Description                           Shares         Value Amount
         -----------                           ------         ------------
     Common Stock                             6,263,494       $ 4,628,146
     Common Stock Purchase Warrants           6,263,494         2,574,872
                                                              -----------
     Total Proceeds                                             7,203,018
     Placement fees                                              (648,272)
                                                              -----------
     Net Proceeds                                             $ 6,554,746
                                                              ===========

                                       9
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

THE FOLLOWING DISCUSSION AND ANALYSIS SHOULD BE READ IN CONJUNCTION WITH THE
UNAUDITED FINANCIAL STATEMENTS AND NOTES THERETO INCLUDED ELSEWHERE IN THIS
REPORT. THE TERMS "LUCAS ENERGY," "LUCAS," "WE," "US" AND "OUR" REFER TO LUCAS
ENERGY, INC.

OVERVIEW

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report includes "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, and Section 21E of the Securities Exchange
Act of 1934. These forward-looking statements may relate to such matters as
anticipated financial performance, future revenues or earnings, business
prospects, projected ventures, new products and services, anticipated market
performance and similar matters. When used in this report, the words "may,"
"will," "expect," "anticipate," "continue," "estimate," "project," "intend," and
similar expressions are intended to identify forward-looking statements
regarding events, conditions, and financial trends that may affect our future
plans of operations, business strategy, operating results, and financial
position. We caution readers that a variety of factors could cause our actual
results to differ materially from the anticipated results or other matters
expressed in forward-looking statements. These risks and uncertainties, many of
which are beyond our control, include:

     *    the sufficiency of existing capital resources and our ability to raise
          additional capital to fund cash requirements for future operations;
     *    uncertainties involved in the rate of growth of our business and
          acceptance of any products or services;
     *    volatility of the stock market, particularly within the energy sector;
          and
     *    general economic conditions.

Although we believe the expectations reflected in these forward-looking
statements are reasonable, such expectations cannot guarantee future results,
levels of activity, performance or achievements All forward-looking statements
included in this report and all subsequent written or oral forward-looking
statements attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. The forward-looking
statements speak only as of the date made, other than as required by law, and we
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.

PLAN OF OPERATION

Lucas Energy, Inc., through its consolidated operations, is an independent oil
and gas company focused on building and revitalizing a diversified portfolio of
oil and gas production assets located in the State of Texas. We seek to acquire
underperforming oil and gas assets that we believe we can revitalize in a short
period of time.

Acquisitions are a core part of our growth strategy. The majority of the
acquisition proposals and candidates that we review are sourced directly by our
senior management or specialized third-party consultants with local area
knowledge. We focus on well acquisitions in which we estimate (a) have a good
opportunity and the appropriate acreage to drill additional laterals (PUD'S),
(b) our related payback periods will be less than 12 months and (c) our
projected internal rate of return on capital invested will exceed 80%.

We are conducting engineering on a program to drill laterals on existing
well-bores or offset locations that we have already leased. The purpose of these
laterals will be to provide more aerial access to the formation in order to
increase the flow rate and to recover additional oil and gas reserves not
recoverable from the existing vertical (straight) holes. We expect drilling to
commence by the third calendar quarter of 2007.

                                       10
<PAGE>
We focus on acquiring shut-in wells that we believe have been overlooked by
larger companies and have a high probability of containing large reserves
recoverable through the lateral drilling process and responding to our
revitalization process. We seek opportunities to acquire mature oil fields that
have 30% to 50% of original oil in place. These fields typically have lost some
or all of the reservoir pressure required to drive the oil through the overlying
rock and sand and into the well bores of the producing wells, or have
experienced mechanical problems. We believe we have standardized a process that
enables us to quickly restore oil production as well as increase production
yield.

We use a diverse range of financing arrangements in our acquisitions. We employ
a wide variety of financing structures to acquire assets, including payment of
cash and/or stock consideration, seller financing, and royalty fee arrangements.
Since becoming a publicly-traded company in June 2006, we have placed a greater
emphasis on using our common stock as a form of consideration.

We seek to maintain a low overhead cost structure while we remain focused on
growing our portfolio. For the past nine consecutive quarters since inception,
we have achieved positive net income and have retained our earnings in order to
grow our portfolio.

RESULTS OF OPERATIONS FOR THREE MONTH PERIOD ENDED JUNE 30, 2007

OIL AND GAS REVENUES

For the three months ended June 30, 2007, our oil and gas net sales were
$494,814 versus $138,493 for the three months ended June 30, 2006. Oil and gas
revenues increased during the period due to additional wells put on line through
the ongoing acquisition and rework program. The increase in revenues for the
three months ended June 30, 2007 compared to the three months ended June 30,
2006 is attributable to changes in the volume of production and the price we
received for production.

                                   For the three        For the three
                                    months ended         months ended
                                   June 30, 2007        June 30, 2006
                                   -------------        -------------

     Volumes: (net)
     Oil (bbls)                          7,866               2,019
     Gas (mcf)                             333                  --

     Average price received:
     Oil                              $  62.41            $  68.59
     Gas                              $   6.48                  --

     Revenues:
     Oil                              $490,952            $138,493
     Gas                              $  3,862            $      0
     Total                            $494,814            $138,493

GENERAL AND ADMINISTRATIVE EXPENSES

For the three months ended June 30, 2007, general and administrative expenses
totaled $177,920 versus $32,364 for the three months ended June 30, 2006.
Professional fees principally associated with public company costs were $70,291
versus $6,351 in the prior period.

INTEREST EXPENSE

For the three months ended June 30, 2007, interest expense increased from $3,094
in 2006 to $83,147 in 2007. This change is attributed to the borrowing of
$2,300,000 in 2007 to purchase new oil and gas properties.

NET INCOME

For the three months ended June 30, 2007, we had a net income of $25,666 versus
a net income of $6,866 for the three months ended June 30, 2006.

                                       11
<PAGE>
LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2007, we had cash of $372,846 and working capital of $258,612.
During July 2007, we completed a private placement that provided net proceeds of
$6,554,746. As of July 31, 2007, we had approximately $4,750,187 in cash. We
used a portion of the funds received in the private placement to fully repay the
$2.3 million note payable. We anticipate that cash on hand will be sufficient to
cover our planned capital and operating expense budget for the remainder of
2007.

Our operations beyond 2007 will require additional capital expenditures. If we
are not able to continue to raise funds or dramatically increase our operational
cash flow, we will be forced to curtail our aggressive acquisition and drilling
program. Additional financing through partnering, public or private equity
financings, lease transactions or other financing sources may not be available
on acceptable terms, or at all. Additional equity financings could result in
significant dilution to our stockholders.

On July 30, 2007, Lucas issued 6,263,494 Units in a private placement for $1.15
per Unit. Lucas received gross proceeds of $7,203,018 (net proceeds of
$6,554,746 after placement costs). Each Unit was comprised of one share of
restricted common stock and one common stock purchase warrant. Each warrant is
exercisable at $2.00 per share of common stock for a period of 3 years. The
holders of the warrants, at their option, can exercise the warrants on a
cashless basis.

CASH FLOW FROM OPERATING ACTIVITIES

For the three month period ended June 30, 2007, net cash used in operating
activities was $5,060, versus net cash provided from operating activities of
$124,204 in the three month period ended June 30, 2006 attributable to changes
in working capital components.

CASH FLOW FROM INVESTING ACTIVITIES

For the three month period ended June 30, 2007, net cash used in investing
activities was $332,112, primarily attributed to our continued rework program,
versus net cash used in investing activities of a $475,470 for the three month
period ended June 30, 2006 attributable to $302,975 received as proceeds from
the sale of oil and gas properties and capital expenditures of $778,445 for oil
and gas properties.

CASH FLOW FROM FINANCING ACTIVITIES

For the three month period ended June 30, 2007, net cash flows from financing
activities was $0 versus net cash flows provided from financing activities of
$815,618 for the three month period ended June 30, 2006.

HEDGING

We did not hedge any of our oil or natural gas production during 2007 and have
not entered into any such hedges from March 31, 2007 through the date of this
filing.

CONTRACTUAL COMMITMENTS

None

OFF-BALANCE SHEET ARRANGEMENTS

As of June 30, 2007, we had no off-balance sheet arrangements.

RELATED PARTY TRANSACTIONS

None

                                       12
<PAGE>
CRITICAL ACCOUNTING POLICIES

Our discussion and analysis of our financial condition and results of operations
is based on our financial statements, which have been prepared in accordance
with accounting principles generally accepted in the United States of America.
The preparation of these financial statements requires us to make estimates and
judgments that affect the reported amounts of assets, liabilities and expenses.
We base our estimates on historical experience and on various other assumptions
that we believe to be reasonable under the circumstances, the results of which
form the basis for making judgments about the carrying values of assets and
liabilities that are not readily apparent from other sources. Actual results may
differ from these estimates under different assumptions or conditions.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Market risk is the risk of loss arising from adverse changes in market rates and
prices. We are exposed to risks related to increases in the prices of fuel and
raw materials consumed in exploration, development and production. We do not
engage in commodity price hedging activities.

ITEM 4. CONTROLS AND PROCEDURES.

DISCLOSURE CONTROLS AND PROCEDURES.

Disclosure controls and procedures are controls and other procedures that are
designed to ensure that the information required to be disclosed by a company in
the reports that it files or submits under the Exchange Act is recorded,
processed, summarized and reported, within the time periods specified in the
SEC's rules and forms. Disclosure controls and procedures include, without
limitation, controls and procedures designed to ensure that information required
to be disclosed in the reports that a company files or submits under the
Exchange Act is accumulated and communicated to the Company's management,
including its Principal Executive Officer and Principal Financial Officer, as
appropriate to allow timely decisions regarding required disclosure.

We maintain disclosure controls and procedures designed to ensure that material
information related to our company is recorded, processed, summarized and
reported within the time periods specified in the SEC rules and forms.

Under the supervision of our Chief Executive Officer and our Chief Financial
Officer, we re-evaluated the effectiveness of the design and operation of our
disclosure controls and procedures as of the end of the period covered by this
report. Based upon that evaluation, our Chief Executive Officer and Chief
Financial Officer concluded that as of June 30, 2007, the design and operation
of such disclosure controls and procedures were not effective. The Company
concluded that a lack of internal accounting staff with knowledge of oil and gas
and other accounting matters increases the reliance of the Company on its
independent auditors to identify accounting and disclosure matters. To remedy
this deficiency, the Company anticipates increasing its accounting resources in
the oil and gas and financial reporting functions as funds become available
through its capital raising efforts.

There were no changes in the Company's internal controls over financial
reporting that occurred during the fiscal quarter ended June 30, 2007 that have
materially affect, or are reasonably likely to materially affect, the Company's
internal control over financial reporting.

                                       13
<PAGE>
                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

Our management is not aware of any significant litigation, pending or
threatened, that would have a significant adverse effect on our financial
position or results of operations.

ITEM 2. SALES OF UNREGISTERED SECURITIES AND USE OF PROCEEDS.

On July 30, 2007, Lucas issued 6,263,494 Units in a private placement for $1.15
per Unit. Lucas received gross proceeds of $7,203,018 (net proceeds of
$6,554,746 after placement costs). Each Unit was comprised of one share of
restricted common stock and one common stock purchase warrant. Each warrant is
exercisable at $2.00 per share of common stock for a period of 3 years. The
holders of the warrants, at their option, can exercise the warrants on a
cashless basis.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

None.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.

Exhibit 31.1 *   Chief Executive Officer Certification Pursuant to Section
                 13a-14 of the Securities Exchange Act

Exhibit 31.2 *   Chief Financial Officer Certification Pursuant to Section
                 13a-14 of the Securities Exchange Act

Exhibit 32.1 *   Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                 Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 32.2 *   Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                 Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

----------
*  Filed herewith

                                       14
<PAGE>
                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                               LUCAS ENERGY, INC.
                                   Registrant


     SIGNATURE                           TITLE                        DATE
     ---------                           -----                        ----


/s/ JAMES J. CERNA           President, C.E.O. and Chairman      August 14, 2007
--------------------------   (Principal Executive Officer)
James J. Cerna



/s/ MALEK BOHSALI            Principal Financial Officer         August 14, 2007
--------------------------   and Accounting Officer
Malek Bohsali

                                       15
<PAGE>
                                INDEX TO EXHIBITS

                                       OF

                               LUCAS ENERGY, INC.


Exhibit 31.1 *   Chief Executive Officer Certification Pursuant to Section
                 13a-14 of the Securities Exchange Act

Exhibit 31.2 *   Chief Financial Officer Certification Pursuant to Section
                 13a-14 of the Securities Exchange Act

Exhibit 32.1 *   Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                 Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 32.2 *   Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                 Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002


----------
*  Filed herewith