U.S. 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 Period ended June 30, 2006

                         Commission File Number 0-51414


                               LUCAS ENERGY, INC.
                 (Name of small business issuer in its charter)


           Nevada                                              98-0417780
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                           Identification Number)


                              520 S. El Camino Real
                                   Suite #432
                               San Mateo, CA 94402
                    (Address of principal executive offices)

                                 (650) 343-4535
                     (Telephone number, including area code)


                               James J. Cerna, Jr.
                              520 S. El Camino Real
                                   Suite #432
                               San Mateo, CA 94402
                    Phone: (650) 343-4535 Fax: (650) 240-0259
            (Name, address and telephone number of agent for service)

Check 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 [ ]

There were 27,140,013 shares of Common Stock issued and outstanding as of July
13, 2006.
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

The accompanying balance sheets of Lucas Energy, Inc. at June 30, 2006 and March
31, 2005, and the related statements of operations, stockholders' equity and
cash flows for the three months ending June 30, 2006 and 2005, have been
prepared by our management in conformity with United States generally accepted
accounting principles. In the opinion of management, all adjustments considered
necessary for a fair presentation of the results of operations and financial
position have been included and all such adjustments are of a normal recurring
nature. Operating results for the quarter ended June 30, 2006, are not
necessarily indicative of the results that can be expected for the fiscal year
ending March 31, 2007.

                                       1
<PAGE>
                               LUCAS ENERGY, INC.
                                 Balance Sheet

<TABLE>
<CAPTION>
                                                                    March 31,           June 30,
                                                                      2006                2006
                                                                   ----------          ----------
                                                                                       (Unaudited)
<S>                                                                <C>                 <C>
                                     ASSETS

CURRENT ASSETS
  Cash                                                             $   59,232          $  523,584
  Oil and gas receivable                                               30,222              60,800
  Other current assets                                                  8,614               5,557
                                                                   ----------          ----------

      Total Current Assets                                             98,068             589,941
                                                                   ----------          ----------
OIL AND GAS PROPERTIES, full cost method
  Costs  subject to amortization                                       61,255             260,245
  Costs not subject to amortization                                   531,197             867,753
                                                                   ----------          ----------

      Oil and Gas Properties, net                                     592,452           1,127,998
                                                                   ----------          ----------
OTHER ASSETS
  Long-term deposits and bonds                                         30,266              55,266
                                                                   ----------          ----------

      Total Other Assets                                               30,266              55,266
                                                                   ----------          ----------

TOTAL ASSETS                                                       $  720,786          $1,773,205
                                                                   ==========          ==========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Accounts payable and accrued expenses                            $   42,045          $  153,202
  Income taxes payable                                                  4,845              42,089
                                                                   ----------          ----------

      Total Current Liabilities                                        46,890             195,291
                                                                   ----------          ----------
NON-CURRENT LIABILITIES
  Note payable                                                        125,000                  --
                                                                   ----------          ----------

      Total Liabilities                                               171,890             195,291
                                                                   ----------          ----------
STOCKHOLDERS' EQUITY
  Preferred stock- March 31, 2006, series A; 1,666,667 shares
   authorized of $0.01 par value, 344,250 shares issued and
   outstanding; 344 June 30, 2006, 10,000,000 shares authorized
   of $0.001 par value, no shares outstanding                              --
  Common stock- March 31, 2006,10,000,000 shares authorized of
   $0.001 par value,8,000,000 shares issued and outstanding;            8,000
   June 30, 2006, 100,000,000 shares authorized of $0.001 par
   value, 23,780,011 shares issued and outstanding                     23,780
  Additional paid-in capital                                          478,236           1,403,418
  Retained earnings                                                    62,316             150,716
                                                                   ----------          ----------

      Total Stockholders' Equity                                      548,896           1,577,914
                                                                   ----------          ----------

TOTAL LIABILITIES AND STOCKHOLDERS'  EQUITY                        $  720,786          $1,773,205
                                                                   ==========          ==========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       2
<PAGE>
                               LUCAS ENERGY, INC.
                                Income Statements
                                   (Unaudited)

                                         For the Three         From Inception on
                                          Months Ended           April 6, 2005
                                            June 30,            Through June 30,
                                              2006                   2005
                                          ------------           ------------
REVENUES
  Oil and gas revenues                    $    138,493           $     13,698
  Lease operating expenses                      39,081                  2,458
  Depreciation and depletion                    21,458                  1,758
                                          ------------           ------------

      Gross Profit                              77,954                  9,482
                                          ------------           ------------
EXPENSES
  Professional fees                              6,351                    785
  General and administrative                    26,013                  6,505
                                          ------------           ------------

      Total Expenses                            32,364                  7,290
                                          ------------           ------------

INCOME FROM OPERATIONS                          45,590                  2,192
                                          ------------           ------------
OTHER EXPENSES
  Sale of assets                                81,534                     --
  Interest income                                1,614                      5
  Interest expense                              (3,094)                    --
                                          ------------           ------------

      Total Other Expenses                      80,054                      5
                                          ------------           ------------

NET INCOME BEFORE INCOME TAXES                 125,644                  2,197

INCOME TAX EXPENSE                              37,244                     35
                                          ------------           ------------

NET INCOME                                $     88,400           $      2,162
                                          ============           ============

BASIC INCOME PER SHARE                    $       0.00           $       0.00
                                          ============           ============

FULLY DILUTED INCOME PER SHARE            $       0.00           $       0.00
                                          ============           ============
WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING                      23,780,011             23,780,011
                                          ============           ============
FULLY DILUTED AVERAGE NUMBER
 OF SHARES OUTSTANDING                      23,780,011             23,780,011
                                          ============           ============

   The accompanying notes are an integral part of these financial statements.

                                       3
<PAGE>
                               LUCAS ENERGY, INC.
                       Statements of Stockholders' Equity
                                   (Unaudited)

<TABLE>
<CAPTION>
                                              Preferred Stock             Common Stock        Additional
                                            -------------------       --------------------      Paid-In      Retained
                                            Shares       Amount       Shares        Amount      Capital      Earnings
                                            ------       ------       ------        ------      -------      --------
<S>                                        <C>          <C>         <C>            <C>        <C>            <C>
Balance at inception on April 6, 2005            --       $  --            --      $    --    $        --    $     --

Common shares issued for cash at
 $0.01 per share                                 --          --     5,200,000        5,200         49,800          --

Common shares issued for cash
 paid for  oil leases at $0.08 per share         --          --     2,800,000        2,800        222,230          --

Preferred shares issued for cash at
 $0.60 per share                            325,000         325            --           --        194,675          --

Preferred shares issued for services
 rendered at $0.60 per share                 19,250          19            --           --         11,531          --

Net income for the period from
 inception on April 6, 2005 through
 March 31, 2006                                  --          --            --           --             --      62,316
                                          ---------       -----    ----------      -------    -----------    --------

Balance, March 31, 2006                     344,250         344     8,000,000        8,000        478,236      62,316

Recapitalization                           (344,250)       (344)   13,800,011       13,800        (13,456)         --

Common shares issued for cash at
 $0.50 per share                                 --          --     1,980,000        1,980        988,020          --

Stock issuance costs                             --          --            --           --        (49,382)         --

Net income for the three months ended
 June 30, 2006                                   --          --            --           --             --      88,400
                                          ---------       -----    ----------      -------    -----------    --------

Balance, June 30, 2006                    $      --       $  --    23,780,011      $23,780    $ 1,403,418    $150,716
                                          =========       =====    ==========      =======    ===========    ========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       4
<PAGE>
                               LUCAS ENERGY, INC.
                            Statements of Cash Flows
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                              For the Three     From Inception on
                                                              Months Ended        April 6, 2005
                                                                 June 30,        Through June 30,
                                                                  2006                2005
                                                                ---------           ---------
<S>                                                             <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income                                                    $  88,400           $   2,162
  Adjustments to reconcile net loss to
   net cash used by operating activities:
     Preferred stock issued for services                               --              11,550
     Depreciation and depletion                                    21,458               1,758
     Gain on sale of assets                                       (81,534)                 --
  Changes in operating assets and liabilities
     Increase in accounts receivable                              (30,578)            (13,698)
     Increase in other current assets                               3,057              (3,936)
     Increase in other assets                                     (25,000)                 --
     Increase in accounts payable and accrued expenses            148,401                 273
                                                                ---------           ---------

         Net Cash Provided by Operating Activities                124,204              (1,891)
                                                                ---------           ---------
CASH FLOWS FROM INVESTING ACTIVITIES
  Sale of operating interest                                      302,975                  --
  Purchase of property and equipment                             (778,445)           (239,978)
                                                                ---------           ---------

         Net Cash Used by Investing Activities                   (475,470)           (239,978)
                                                                ---------           ---------
CASH FLOWS FROM FINIANCING ACTIVITIES
  Proceeds from the sale of common stock                          990,000             280,030
  Proceeds from the sale of preferred stock                            --              30,000
  Repayment of note payable                                      (125,000)                 --
  Payment of stock offering costs                                 (49,382)                 --
                                                                ---------           ---------

         Net Cash Provided by Financing Activities                815,618             310,030
                                                                ---------           ---------

NET INCREASE IN CASH                                              464,352              68,161

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

CASH AT END OF PERIOD                                           $ 523,584           $  68,161
                                                                =========           =========

SUPPLIMENTAL DISCLOSURES OF CASH FLOW INFORMATION

CASH PAID FOR:
  Interest                                                      $      --           $      --
  Income Taxes                                                  $      --           $      --

NON-CASH FINANCING ACTIVITIES
  Preferred stock issued for services                           $      --           $  11,550
</TABLE>

The accompanying notes are an integral part of these financial statements.

                                       5
<PAGE>
                                LUCAS ENERGY INC.
                     (Formerly Panorama Investments, Corp.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2006


1. BASIS OF PRESENTATION

The unaudited financial  information  furnished herein reflects all adjustments,
which in the opinion of  management  are necessary to fairly state the Company's
financial  position and the results of its operations for the periods presented.
This  report on Form 10-QSB  should be read in  conjunction  with the  Company's
financial statements and notes thereto included in the Company's Form 10-KSB for
the fiscal year ended March 31, 2006. The Company  assumes that the users of the
interim  financial  information  herein  have read or have access to the audited
financial  statements  for the  preceding  fiscal year and that the  adequacy of
additional  disclosure  needed for a fair presentation may be determined in that
context.  Accordingly,  footnote disclosure, which would substantially duplicate
the disclosure  contained in the Company's Form 10-KSB for the fiscal year ended
November 30, 2005,  has been omitted.  The results of  operations  for the three
month period ended June 30, 2006 are not  necessarily  indicative of results for
the entire year ending March 31, 2007.

2. NATURE OF OPERATIONS

a) Organization

The Company was  incorporated  in the State of Nevada,  U.S.A.,  on December 16,
2003. The Company is headquartered in Houston,  Texas. Lucas Energy,  Inc. ("the
Subsidiary") 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,  the Company  operates  eight  separate  oil and gas
leases.  In  conjunction  with the  acquisition of the  Subsidiary,  the Company
changed  its fiscal  year end to March 31. The  shareholders  of the  Subsidiary
became the controlling shareholders of the Company,  accordingly the acquisition
of the  Subsidiary  was accounted for as a reverse merger whereby the historical
financial statements are presented as the financial statements of the Company.

b) Development Stage Activities

Prior to the acquisition of Lucas Energy,  Inc., the Company was classified as a
development stage enterprise.

3. SIGNIFICANT ACCOUNTING POLICIES

The financial  statements  of the Company have been prepared in accordance  with
generally accepted accounting principles in the United States. Because a precise
determination  of many assets and  liabilities  is dependent upon future events,
the preparation of financial  statements for a period  necessarily  involves the
use of estimates which have been made using careful judgment.

The financial statements have, in management's  opinion,  been properly prepared
within  reasonable  limits  of  materiality  and  within  the  framework  of the
significant accounting policies summarized below:

                                       6
<PAGE>
                                LUCAS ENERGY INC.
                     (Formerly Panorama Investments, Corp.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2006


3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

a) Use of Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles 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 for the reporting  period.  Actual
results could differ from these estimates.

b) Financial Instruments

The Company's  financial  instruments  consist of cash, and accounts payable and
accrued  liabilities.  Unless otherwise  noted, it is management's  opinion that
this Company is not exposed to significant interest or credit risks arising from
these  financial  instruments.  The fair  value of these  financial  instruments
approximate their carrying values, unless otherwise noted.

c) Foreign Currency Translation

The Company's  functional  currency is the U.S. dollar.  Transactions in foreign
currency are translated into U.S. dollars as follows:

     i)   monetary items at the rate prevailing at the balance sheet date;
     ii)  non-monetary  items at the historical  exchange rate;
     iii) revenue  and  expense  at  the  average  rate  in  effect  during  the
          applicable accounting period.

d) Basic and Diluted Loss Per Share

Basic loss per share is calculated using the weighted average number of shares
issued and outstanding during the year. Diluted loss per share is calculated
using the treasury stock method.

e) New Accounting Standards

Management does not believe that any recently issued, but not yet effective,
accounting standard, if currently adopted, could have a material effect on the
accompanying financial statements.

                                       7
<PAGE>
                                LUCAS ENERGY INC.
                      (Formerly Panorama Investment Corp.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2006


4. SIGNIFICANT EVENTS

Acquisition and Share Exchange Agreement:

On May 19, 2006,  the Company  entered into an  Acquisition  and Share  Exchange
Agreement (the "Acquisition Agreement"), pursuant to which the Company acquired,
through an exchange transaction, all of the issued and outstanding capital stock
of privately held, Lucas Energy Resources, Inc., formerly known as Lucas Energy,
Inc.  ("Lucas Energy  Resources"),  from Lucas Energy  Resources'  shareholders.
Lucas  Energy  is an  independent  oil  and  gas  company  that  is  building  a
diversified  portfolio  of  oil  and  gas  assets  in  the  United  States.  The
transaction  was  contingent  upon the  satisfaction  of certain  circumstances,
including  the issuance and transfer of certain of the  Company's  shares to the
former Lucas Energy Resources  shareholders and completion of certain  corporate
actions by both companies and their  shareholders.  The terms of the Acquisition
Agreement were satisfied and the  transaction was completed on June 16, 2006. In
conjunction  with the  transaction,  the Company  has  Amended  its  Articles of
Incorporation to change the Company's name, has forward split it common stock on
a 2.4 to 1 ratio, and has changed its trading symbol on the OTC-BB to "LUCE".

The terms of the Acquisition  Agreement required that of all of the Lucas Energy
Resources  shareholders agree to exchange their shares,  including preferred and
common classes,  for an aggregate of 21,800,011  (forward split adjusted) of the
Company's  common  shares in a  specified  Closing  Transaction  which  occurred
Tuesday,   June  13,  2006.  The  transaction  required  transfer  of  2,640,000
outstanding "control" shares to Lucas Energy Resources' private shareholders and
required  the  issuance  of an  additional  19,160,011  shares  to Lucas  Energy
Resources'  private  shareholders,  for a total  new  issuance  relating  to the
transaction of 21,800,011 common shares.

In May 2006, the Company  completed a private  placement of 1,980,000  shares of
its common stock at $0.50 per share for gross cash proceeds of $990,000.

                                       8
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION RESULTS OF
        OPERATIONS

THREE MONTHS ENDED JUNE 30, 2006

We are still in our development stage and have generated limited revenues to
date.

We realized revenues of $138,493 from the sale of oil during the quarter ended
June 30, 2006 compared to $13,698 in the same quarter of 2005. We started
operations on April 6, 2005. Similarly, we incurred lease operating expenses of
$2,458 during the quarter ended June 30, 2005 compared to $39,081 for the same
quarter of 2006. In 2006, we recorded depreciation and depletion expense of
$21,458 for our oil production compared to $1,758 in 2005.

We incurred operating expenses of $32,364 for the three month period ended June
30, 2006 compared to $7,290 for the corresponding quarter of 2005. These
expenses consisted of general operating expenses incurred in connection with the
day to day operation of our oil production business and the preparation and
filing of our periodic reports. The increase relates to our acquisition of
additional oil properties subsequent to June 30, 2006.

Our net income from operations for the three months ended June 30, 2005 was
$2,192. Our income from operations for the three months ended June 30, 2006 was
$45,590. The increase relates to our acquisition of additional oil properties
subsequent to June 30, 2006.

We also recorded a gain on the sale of oil properties of $81,534 during the
quarter ended June 30, 2006. We had no such gain in the corresponding quarter of
2005.

LIQUIDITY AND CAPITAL RESOURCES

We realized cash from operations of $124,204 during the quarter ended June 30,
2006 compared to cash used of $1,891 during the quarter ended June 30, 2005.

We used $239,978 of our cash to purchase oil properties during the three months
ended June 30, 2005 compared to $778,445 for the same period in 2006. We
received cash of $302,975 from the sale of oil properties in 2006 compared to
$-0- for the same period of 2005.

We received cash of $310,030 from the sale of shares of our common and preferred
stock in June 30, 2005 quarter compared to $990,000 in the 2006 quarter. We used
$125,000 to repay all of our notes payable during the June 30, 2006 quarter.

                                       9
<PAGE>
We expect our current cash balance of $523,584 at June 30, 2006 to satisfy our
cash requirements for the next 12 months. We expect to be able to satisfy our
cash requirements for at least the next twelve months without having to raise
additional funds or seek bank loans. However, if we identify additional oil and
gas projects that we want to purchase, we may choose to raise additional monies
through sales of our equity securities or through loans from banks or third
parties to make the acquisitions.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

MILESTONES OF BUSINESS OPERATIONS

On May 19, 2006, Lucas Energy, Inc., formerly known as, Panorama Investments,
Corp. (the "Company" or "Lucas Energy") entered into an Acquisition and Share
Exchange Agreement (the "Acquisition Agreement"), pursuant to which the Company
has acquired, through an exchange transaction, all of the issued and outstanding
capital stock of privately held, Lucas Energy Resources, Inc., formerly known as
Lucas Energy, Inc. ("Lucas Energy Resources"), from Lucas Energy Resources'
shareholders. Lucas Energy is an independent oil and gas company that is
building a diversified portfolio of oil and gas assets in the United States. The
transaction was contingent upon the satisfaction of certain circumstances,
including the issuance and transfer of certain Lucas Energy shares to the former
Lucas Energy Resources shareholders and completion of certain corporate actions
by both companies and their shareholders. The terms of the Acquisition Agreement
were satisfied and the transaction was completed on June 16, 2006. In
conjunction with the transaction, Lucas Energy, Inc., has Amended its Articles
of Incorporation to change the Company's name, has forward split it common stock
on a 2.4 to 1 ratio, and has changed its trading symbol on the OTC-BB to "LUCE".

The terms of the Acquisition Agreement required that of all of the Lucas Energy
Resources shareholders agree to exchange their shares, including preferred and
common classes, for an aggregate of 21,800,011 (forward split adjusted) Lucas
Energy common shares in a specified Closing Transaction which occurred Tuesday,
June 13, 2006. The transaction required transfer of 2,640,000 outstanding
"control" shares to Lucas Energy Resources' private shareholders and required
the issuance of an additional 19,160,011 shares to Lucas Energy Resources'
private shareholders, for a total new issuance relating to the transaction of
21,800,011 common shares.

                                       10
<PAGE>
CRITICAL ACCOUNTING POLICIES

The unaudited financial statements as of February 28, 2006 included herein have
been prepared without audit pursuant to the rules and regulations of the U.S.
Securities and Exchange Commission. Certain information and footnote disclosures
normally included in financial statements prepared in accordance with general
accepted accounting procedures have been condensed or omitted pursuant to such
rules and regulations. In the opinion of management, all adjustments (consisting
of normal recurring accruals) considered necessary for a fair presentation have
been included. It is suggested that these financial statements be read in
conjunction with our November 30, 2005 audited financial statements and notes
thereto, which can be found in our Form 10K-SB filing on the SEC website at
www.sec.gov under our SEC File Number 0-51414.

The financial statements of the Company have been prepared in accordance with
generally accepted accounting principles in the United States. Because a precise
determination of many assets and liabilities is dependent upon future events,
the preparation of financial statements for a period necessarily involves the
use of estimates which have been made using careful judgment.

The financial statements have, in management's opinion, been properly prepared
within reasonable limits of materiality and within the framework of the
significant accounting policies summarized below:

a) Use of Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles 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 for the reporting period. Actual
results could differ from these estimates.

b) Financial Instruments

The Company's financial instruments consist of cash, and accounts payable and
accrued liabilities. Unless otherwise noted, it is management's opinion that
this Company is not exposed to significant interest or credit risks arising from
these financial instruments. The fair value of these financial instruments
approximate their carrying values, unless otherwise noted.

                                       11
<PAGE>
c) Foreign Currency Translation

The Company's functional currency is the U.S. dollar. Transactions in foreign
currency are translated into U.S. dollars as follows:

     i)   monetary items at the rate prevailing at the balance sheet date;
     ii)  non-monetary items at the historical exchange rate;
     iii) revenue and expense at the average rate in effect during the
          applicable accounting period.

d) Basic and Diluted Loss Per Share

Basic loss per share is calculated using the weighted average number of shares
issued and outstanding during the year. Diluted loss per share is calculated
using the treasury stock method.

e) New Accounting Standards

Management does not believe that any recently issued, but not yet effective,
accounting standard, if currently adopted, could have a material effect on the
accompanying financial statements.

FORWARD LOOKING STATEMENTS

Some of the statements contained in this Form 10-QSB that are not historical
facts are "forward-looking statements" which can be identified by the use of
terminology such as "estimates," "projects," "plans," "believes," "expects,"
"anticipates," "intends," or the negative or other variations, or by discussions
of strategy that involve risks and uncertainties. We urge you to be cautious of
the forward-looking statements, that such statements, which are contained in
this Form 10-QSB, reflect our current beliefs with respect to future events and
involve known and unknown risks, uncertainties and other factors affecting our
operations, market growth, services, products and licenses. No assurances can be
given regarding the achievement of future results, as actual results may differ
materially as a result of the risks we face, and actual events may differ from
the assumptions underlying the statements that have been made regarding
anticipated events.

All written forward-looking statements made in connection with this Form 10-QSB
that are attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. Given the
uncertainties that surround such statements, you are cautioned not to place
undue reliance on such forward-looking statements.

The safe harbors of forward-looking statements provided by the Securities
Litigation Reform Act of 1995 are unavailable to issuers not subject to the
reporting requirements set forth under Section 13(a) or 15(D) of the Securities
Exchange Act of 1934, as amended. As we have not registered our securities
pursuant to Section 12 of the Exchange Act, such safe harbors set forth under
the Reform Act are unavailable to us.

                                       12
<PAGE>
ITEM 3. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, including
our principal executive officer and the principal financial officer, we have
conducted an evaluation of the effectiveness of the design and operation of our
disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934, as of the end of the period
covered by this report. Based on this evaluation, our principal executive
officer and principal financial officer concluded as of the evaluation date that
our disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
reports is recorded, processed, summarized and reported within the time periods
specified in SEC rules and forms relating to our company, particularly during
the period when this report was being prepared.

Additionally, there were no significant changes in our internal controls or in
other factors that could significantly affect these controls subsequent to the
evaluation date. We have no identified any significant deficiencies or material
weaknesses in our internal controls, and therefore there were no corrective
actions taken.

                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 2. CHANGES IN SECURITIES

The following unregistered securities have been issued since April 1st, 2006:

       Date          No. of Shares       Title        Valued At        Reason
       ----          -------------       -----        ---------        ------
     May 2006          1,980,000         Common         $0.50           Cash

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

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

None.

ITEM 5. OTHER INFORMATION

None.

                                       13
<PAGE>
ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

The following exhibits are included with this registration statement filing.
Those marked with an asterisk and required to be filed hereunder, are
incorporated by reference and can be found in their entirety in our original
Form 10-SB Registration Statement, filed under SEC File Number 0-51414, at the
SEC website at www.sec.gov:

Exhibit No.                           Description
-----------                           -----------

   31.1        ss. 302 Certification of Principal Executive Officer, Principal
               Accounting Officer

   32.1        ss. 906 Certification of Principal Executive Officer, Principal
               Accounting Officer

                                   SIGNATURES

Pursuant to the requirements of Section 13(a) or 15(d) 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.

August 7, 2006

Lucas Energy, Inc., Registrant


By: /s/ James J. Cerna
----------------------
James J. Cerna,
President and Chief Executive Officer,
Principal Accounting Officer

                                       14