Document:

Lucas Energy, Inc. 8-K

Exhibit 10.2

OWNERSHIP INTEREST PLEDGE AGREEMENT

This Ownership Interest
Pledge Agreement (the “Agreement”) entered into as of August 15, 2016, by and between LUCAS ENERGY, INC., a Nevada
corporation (“LEI”), in favor of LOUISE H. ROGERS (“Rogers”), as follows:

I.

Consideration and Terms
of Agreement

CATI Operating, LLC, a Texas
limited liability company (“CATI”), is wholly-owned by LEI. CATI has executed a Promissory Note dated August 15, 2016,
in the original principal amount of ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) (the “Note”) in favor
of Rogers, and has, as assignee of LEI, entered into the August 2013 Security Agreement dated August 13, 2013 (the “Security
Agreement”), with Rogers to secure the Note. The Security Agreement is incorporated by reference into this Agreement for
all purposes. To induce Rogers to make this loan to CATI and for other good and valuable consideration, the receipt and sufficiency
of which are acknowledged by the parties, LEI and Rogers agree as follows:

A.

Pledge.

As a part of the security
for the prompt and complete payment and performance of the obligations of CATI under the Note and the obligations of CATI and LEI
under this Agreement (the “Liabilities”), LEI and Rogers agree that the following ownership interest shall serve as
security for this Note (also listed in Exhibit A to this Agreement):

LEI’s 100% ownership interest
in CATI, which is an uncertificated ownership interest.

LEI represents and warrants
that it owns 100% of CATI, and that there are no other owners or persons or entities with options, beneficial rights, or the right
to become an owner of CATI. LEI represents and warrants that its ownership interest in CATI is not represented by a certificate.
LEI’s ownership interest shall be presented to Rogers in the form of a Ownership Interest Power authorizing and empowering
Rogers to take control of the entity in the even of a Default as defined in the Security Agreement, and are included in the definition
of the term “Powers” set forth above. The ownership interest and Powers are collectively referred to in this Agreement
as the “Collateral.” LEI appoints Rogers as its attorney-in-fact to arrange, at Rogers’s option, for the transfer
upon or at any time after the existence or occurrence of an Event of Default of the Collateral on the books of the respective entities
to the name of Rogers or to the name of Rogers’s nominee. For purposes of this Agreement, “Default” and “Event
of Default” shall have the same meaning, and that meaning is as those terms are defined in the Security Agreement. Any and
all events that would constitute “Default” under the Security Agreement shall constitute “Default” or an
“Event of Default” under this Agreement.

B.

Voting Rights.

During the term of this
Agreement, and so long as no Event of Default occurs or exists, LEI shall have the right to vote its respective ownership interests.

 

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Upon the existence or occurrence
of an Event of Default, Rogers shall then, at her option, be entitled to exercise all voting powers pertaining to the Collateral.

C.

Representations of LEI.

LEI warrants, represents, and agrees
that:

1.

it has full power and authority to
enter into this Agreement;

2.

it has the right to vote,
pledge, and grant a security interest in or otherwise transfer the Collateral free of any liens, claims, and encumbrances, and
all necessary board authority has been obtained and granted;

3.

there are no liens, claims,
or encumbrances upon the Collateral except as created under this Agreement; and

4.

the Powers are duly executed
and give the legal holder of the Powers the authority they purport to confer.

D.

Limitations on Liens
and Dispositions.  LEI agrees that it will not create, permit, or suffer to exist, and it will defend the Collateral
against and take all other action that is necessary to remove, any lien, encumbrance, charge, or right (a “Lien”) on
or against the Collateral and will defend the right, title, and interest of Rogers in and to any of its rights, title, and interest
in and to the Collateral against the claims and demands of all other persons. LEI will not sell, assign, exchange, grant a security
interest in, transfer, encumber, or otherwise dispose of, any of the Collateral, or attempt or contract to do so.

E.

Power of Attorney.  LEI
irrevocably constitutes and appoints Rogers its true and lawful attorney-in-fact, with full power of substitution for it and in
LEI’s name, place, and stead, to ask, demand, collect, receive, receipt for, sue for, compound, and give acquittance for
any and all sums or properties that may be or become due, payable, or distributable on or regarding the Collateral or that constitute
a part of the Collateral; with full power to settle, adjust, or compromise any claim regarding the Collateral as fully as LEI could
itself do; and to endorse or sign the name of LEI on all commercial paper given in payment or in partial payment of the Note and
on all documents of satisfaction, discharge, or receipt required or requested in connection with payment or partial payment of
the Note; and in her discretion, to file any claim or take any other action or proceeding, either in her own name or in the name
of LEI, or otherwise, that Rogers may deem necessary or appropriate to collect or otherwise realize upon any and all of the Collateral,
or effect a transfer of the Collateral, or which may be necessary or appropriate to protect and preserve the right, title, or interest
of Rogers in and to the Collateral and the security intended to be afforded by this Agreement. Rogers shall not exercise her rights
under this Paragraph unless and until there exists an Event of Default.

F.

Consent.
 LEI consents that from time-to-time before or after the occurrence or existence of an Event of Default, with or without notice
to or assent from LEI, any other security at any time held by or available to Rogers for any of the Liabilities or any security
at any time held by or available to Rogers for any obligation of any other person, firm, or corporation secondarily or otherwise
liable for any of the Liabilities, may be changed, altered, renewed, extended, continued, surrendered, compromised, waived, or
released, in whole or in part, as Rogers may see fit, and LEI shall remain bound under this Agreement despite the change, alteration,
renewal, extension, continuance, surrender, compromise, waiver, release, or inaction, extension of further credit, or other dealing.

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G.

Remedies.

1.

Upon the occurrence or existence
of an Event of Default, Rogers may, in her sole discretion, without notice except as specified below, sell or cause the Collateral
to be sold, at the price Rogers deems best, for cash and the purchaser of any or all of the Collateral sold by Rogers shall subsequently
hold the Collateral, absolutely free from any claim, encumbrance, or right of any kind whatsoever, subject to the restrictions
on the transfer of the stock or ownership interest. Upon request of Rogers, LEI shall provide advice and assistance in the sale
of the Collateral. LEI expressly waives all of its rights of redemption from any sale or other disposition of the Collateral. LEI
will pay to Rogers all expenses, including but not limited to all actual attorney’s fees, court costs, and expenses incurred
as a result of, or incident to, the enforcement of any provisions of this Agreement. Neither Rogers nor any party acting as her
attorney shall be liable for any acts or omissions or for any error of judgment or mistake of fact or law other than their gross
negligence or willful misconduct. Rogers agrees to return to LEI any proceeds of the sale of the Collateral that exceed the then-outstanding
balance of the Liabilities and the expenses described above. LEI shall be liable for any deficiency following the sale of the Collateral.

2.

Rogers will give LEI reasonable
notice of the time and place of any public sale of the Collateral or of the time after which any private sale or other intended
disposition is to be made. Any sale of the Collateral conducted in conformity with reasonable commercial practices of banks, commercial
finance companies, insurance companies, or other financial institution disposing of property similar to the Collateral shall be
deemed to be commercially reasonable. Notwithstanding any provisions to the contrary contained in this Agreement, any requirements
of reasonable notice shall be met if the notice is received by LEI as provided at least five days before the time of the sale or
disposition.

3.

In view of the fact that
federal and state security laws may impose certain restrictions on the method by which a sale of the Collateral may be effected
after an Event of Default, LEI agrees that, upon the occurrence or existence of an Event of Default, Rogers may attempt to sell
all or any part of the Collateral by means of a private placement restricting the bidder and prospective purchasers to those who
will represent and agree that they are purchasing for investment only and not for distribution. In so doing, Rogers may solicit
offers to buy the Collateral, or any part of it, from a limited number of investors deemed by Rogers, in its reasonable judgment,
to be respectable parties who might be interested in purchasing the Collateral. If Rogers solicits offers from not less than two
investors, then the acceptance by Rogers of the highest offer obtained from the investors shall be deemed to be a commercially
reasonable method of disposition of the Collateral.

 

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H.

Waivers and Consents.  Upon
the occurrence or existence of an Event of Default, Rogers may enforce this Agreement independently of any other remedy or security
Rogers may have or hold in connection with the Liabilities, and it shall not be necessary for Rogers to marshal assets in favor
of LEI or any other person or entity or to proceed upon or against and/or exhaust any other security or remedy before proceeding
to enforce this Agreement. Rogers may file a separate action against LEI, whether brought or prosecuted with respect to any other
security or against any other person or entity, or whether any other person or entity is joined in the action or actions. LEI agrees
that Rogers, or any affiliate of Rogers, and LEI, and any affiliate of LEI, may deal with each other in connection with the Liabilities
or otherwise, or alter any contracts or agreements now or subsequently existing between any of them, in any manner whatsoever,
all without in any way altering or affecting the Liens created or granted in this Agreement. Rogers’s rights under this Agreement
shall be required to be restored or returned by Rogers (whether as a “voidable preference,” “fraudulent conveyance,”
or otherwise) upon the bankruptcy, insolvency, or reorganization of LEI, or otherwise. The Lien created or granted in this Agreement
and the enforceability of this Agreement shall at all times remain effective to secure the full amount of all the Liabilities even
though the Liabilities, including any part of them or any other security or guaranty for them, may be or may in the future become
invalid or otherwise unenforceable against LEI.

I.

Understanding with Respect
to Waivers and Consents.  LEI warrants and agrees that each of the waivers and consents set forth in this Agreement
are made after consultation with legal counsel and with full knowledge of their significance and consequences, with the understanding
that events giving rise to any defense or right waived may diminish, destroy, or otherwise adversely affect rights that LEI may
otherwise have against Rogers or others or against the Collateral, and that, under the circumstances, the waivers and consents
given in this Agreement are reasonable and not contrary to public policy or law.

J.

Term.  This Agreement
shall remain in full force and effect until (a) all the Liabilities have been paid in full and satisfied, or (b) upon the mutual
agreement of Rogers and LEI upon replacement of the collateral on terms that are acceptable to Rogers and LEI, whichever occurs
first. This Agreement shall remain in full force and effect and continue to be effective if any petition is filed by or against
LEI for liquidation or reorganization, if LEI becomes insolvent or makes an assignment for the benefit of creditors, or if a receiver
is appointed for all or any significant part of LEI’s assets, or if LEI files for bankruptcy. This Agreement shall continue
to be effective or be reinstated, as the case may be, if any payment of the Liabilities, or any part of the Liabilities, pursuant
to applicable law, is rescinded or reduced or must otherwise be restored or returned by any obligee of the Liabilities, whether
as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though the payment or performance
had not been made. In the event that any payment, or any part of a payment, is rescinded, reduced, restored, or returned, the Liabilities
shall be reinstated and deemed reduced only by the amount actually paid less any amount rescinded, reduced, restored, or returned.
Upon the full and final satisfaction of all of the Obligations (as defined in the Security Agreement) and in the absence of a Default,
as determined by Rogers, this Agreement and all stock powers given by LEI to Rogers shall terminate and shall be declared null
and void as of the date all of the Obligations are fully and finally satisfied. At that time, Rogers shall release her lien on
the Collateral and shall deliver to LEI, at its expense, the Collateral remaining in her possession that has not been sold or otherwise
applied pursuant to this Agreement. Rogers shall also provide any other termination statements reasonably required by LEI, also
at its expense.

 

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K.

Terms.  The
singular shall include the plural and vice versa and any gender shall include any other gender as the text indicates.

L.

Successors and Assigns.  This
Agreement shall be binding upon and inure to the benefit of LEI, Rogers, and their respective successors and assigns. LEI’s
successors and assigns shall include, without limitation, a receiver of or for LEI. Without limiting the generality of the above
provision, Rogers may assign or otherwise transfer her rights to receive payment or performance of the Liabilities (or any part
of them) to any other person or entity, and the other person or entity shall then become vested with all of the rights granted
to Rogers in this Agreement or otherwise.

M.

Applicable Law.
This Agreement shall be governed by and construed under the laws of the State of Texas.

N.

Severability. Whenever
possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable
law, but, if any provision of this Agreement is held to be prohibited by or invalid under applicable law, that provision shall
be ineffective only to the extent of the prohibition or invalidity, without invalidating the remainder of the provision or the
remaining provisions of this Agreement.

O.

Notices.  Any
and all notices or communications related in any way to this Agreement may be given by certified mail with return receipt requested,
by receipted courier, by overnight delivery service, or by hand delivery and sent to the persons at the addresses set forth for
each Party below, or they may be given by facsimile transmission or by e-mail transmission if the intended recipient has affirmatively
stated that notice may be delivered by facsimile or e-mail and the intended recipient has provided a valid facsimile number and/or
e-mail address. Any notice delivered by facsimile or e-mail sent or for which a return receipt is received at any time before 5:00
p.m. on a business day shall be deemed to be delivered on that date. Any facsimile or e-mail notice not received by 5:00 p.m. on
a business day shall be deemed to be received on the first following business day.

 

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Rogers - LEI/August 15, 2016
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Notices to
LEI:

Anthony Schnur, Chief Executive
Officer

LUCAS ENERGY, INC.

450 Gears Road,
Suite 780

Houston, Texas 77067

E-mail:   TSchnurr@LucasEnergy.com

Notice may be delivered
by facsimile or

e-mail with proof of receipt.

Notices to Rogers:

Louise H, Rogers

c/o Sharon E. Conway

Attorney at Law

2441 High Timbers, Suite 410

The Woodlands, Texas 77380-1052

Facsimile number: (281) 754-4685

E-mail address: SConway@SConwayLaw.com

Notice may be delivered
by facsimile or

e-mail with proof of receipt.

Any of the above contact information
or designated representatives for the purpose of notice may be changed by a Party or an authorized representative of a Party providing
written notice in the manner set forth above to the other Party, and the new contact information or representative will then become
effective. For all purposes under this Agreement, any notice given by Ms. Conway (or other any other legal counsel designated by
Rogers) on behalf of Rogers shall constitute notice by Rogers.

P.

Section Headings.  The
section headings in this Agreement are for convenience of reference only, and shall not affect in any way the interpretation of
any of the provisions contained in this Agreement.

Q.

Miscellaneous.  No
failure or delay on the part of Rogers in the exercise of any power or right, and no course of dealing between LEI and Rogers shall
operate as a waiver of any power or right, nor shall any single or partial exercise of any power or right preclude any further
or other exercise of that power or right or the exercise of any other power or right. The remedies provided for in this Agreement
are cumulative and not exclusive of any remedies that may be available to Rogers at law or in equity. Any waiver of any provision
of this Agreement, and any consent to any departure by LEI from the terms of any provision of this Agreement, shall be effective
only in the specific instance and for the specific purpose for which the waiver or consent was given.

 

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LEI has executed and delivered this
Pledge Agreement as of August 15, 2016

Pledgors:

LUCAS ENERGY, INC.

 

	By:	/s/
    Anthony Schnur	 
	 	ANTHONY SCHNUR, Chief Executive Officer	 

Date of
Signature:        August 25, 2016

 

Approved and accepted this the_________day
of August, 2016:

 

	/s/ Louise H. Rogers	 
	LOUISE H. ROGERS, as her separate property	 

 

 

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EXHIBIT A

	 	Certificate	Percent
	Company Name	Owner Name	Number 	Ownership
	 	 	 	 
	CATI Operating, LLC	Lucas Energy, Inc.	n/a	100%Lucas Energy, Inc. 8-K

Exhibit 10.3

LOAN GUARANTY AGREEMENT

FOR VALUABLE CONSIDERATION, and
to induce LOUISE H. ROGERS, a resident of the State of Texas (“Rogers”), to enter into the Promissory Note dated August
15, 2016, in the principal amount of ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) in favor of CATI OPERATING, LLC, a Texas limited
liability company (“CATI”), CATI’s parent company, LUCAS ENERGY, INC., a Nevada corporation (“LEI”),
enters into this Loan Guaranty Agreement (the “Guaranty”) with Rogers as follows:

1.

The terms “Obligation”
and “Obligations” are used interchangeably throughout this Guaranty in their broadest and most comprehensive sense
and shall include, but are not limited to, payment of all amounts payable by CATI to Rogers and performance of all covenants to
be performed by CATI in connection with that certain Promissory Note (the “Note”) executed by CATI in favor of Rogers
and dated August 15, 2016, and any and all subsequent modifications, amendments, extensions, renewals, accommodations, or substitutions
of the Note, and all documents related or ancillary to the Note. The following documents are incorporated by reference in this
Guaranty, and any and all definitions and provisions in them apply to this Guaranty: (a) the Note; (b) the Letter Loan Agreement
between LEI (and CATI as LEI’s assignee) dated August 13, 2013 (as subsequently amended and restated); (c) the Security Agreement
between LEI (and CATI as LEI’s assignee) and Rogers dated August 13, 2013 (the “Security Agreement”); and (d)
the Mortgage, Deed of Trust, Assignment, Security Agreement, Financing Statement, and Fixture Filing issued by LEI in favor of
Rogers dated August 13, 2013, including but not limited to the definition of the terms “Obligation” and “Obligations.”

2.

Effective on the date that LEI has
raised at least $5 million of equity (the “Funding Date”), LEI irrevocably and unconditionally guarantees and warrants
to Rogers, as long as this Guaranty is in effect, the full and faithful payment, satisfaction, and completion by CATI of each and
every Obligation. The terms and conditions of the Note are incorporated by reference in this Guaranty for all purposes as if fully
set forth at length, and they shall be binding upon LEI to the same extent as they are binding on CATI. LEI irrevocably and unconditionally
promises and guarantees to pay to Rogers the entire principal amount borrowed under the Note and all accrued, unpaid interest,
and any and all other sums due under the Note, including but not limited to actual attorney’s fees, expenses, and court costs
incurred by Rogers that relate in any way to the Note or to collection efforts under the Note and this Guaranty, without notice
or demand, immediately upon any acceleration of the Note, regardless of whether Rogers will have a right of recovery under the
Note against CATI following any acceleration only after the Funding Date. This Guaranty become effective on the Funding Date and
shall remain in full force and effect until all the Obligations have been fully paid and satisfied. For the sake of clarity and
in an abundance of caution, LEI shall have no obligation under this Guaranty unless or until the Funding Date occurs. LEI represents
and warrants that it will use its best efforts to ensure the Funding Date occurs at the earliest possible date.

3.

The Obligations may be amended,
modified, or waived, further agreements may be entered into, and further credit may be granted from time to time at the request
of CATI and without further authorization from or notice to LEI, all of which are expressly waived by LEI. None of these actions
shall terminate, release, reduce, diminish, or in any way affect any of the obligations of LEI under this Guaranty or give LEI
any recourse or defense against Rogers. Rogers need not inquire into the power of CATI or the authority of its officers, partners,
members, or agents acting or purporting to act on its behalf. Any amendments granted to CATI shall be deemed to have been granted
also at the request of LEI and in consideration of and in reliance upon this Guaranty.

    	Loan Guaranty Agreement
Rogers - LEI - CATI Loan/August 15, 2016
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4.

Rogers may alter, compromise, accelerate,
extend, or change the time or manner for the payment of any Obligation guaranteed by this Guaranty; accept any additional indebtedness
from CATI; add interest to the Note and increase or reduce the rate of interest; release CATI by a deed or other transfer or assignment
in lieu of foreclosure; or otherwise as to all or any portion of the Obligations guaranteed waive any default by CATI; fail to
assert any rights against CATI; grant to CATI any other indulgence or concession with respect to all or any part of any of the
Obligations; release, substitute, or add any one or more guarantors or endorsers; accept additional or substituted security; or
release or subordinate any security; and may generally deal with CATI, any guarantor, endorser, or any other person, regarding
any indebtedness of CATI to Rogers, or any security for the indebtedness, as Rogers sees fit. None of these actions and no change,
impairment, or suspension of any right or remedy of Rogers shall terminate, release, reduce, diminish, or in any way affect any
of the obligations of LEI under this Guaranty or give LEI or any other guarantor any recourse or defense against Rogers.

5.

This is a Guaranty of payment and
performance under the Note and this Guaranty and not of collection, and LEI waives and agrees not to assert or take advantage of:

a.

the defense of the statute of
limitations in any action under this Guaranty or for the collection of any indebtedness or the performance of any Obligation guaranteed
in this Guaranty;

b.

any defense that may arise by
reason of the incapacity, lack of authority, death or disability of, or revocation of this Guaranty by CATI or LEI or any other
person or entity, or the failure of Rogers to file or enforce a claim against the estate (either in administration, bankruptcy,
or any other proceeding) of CATI or any other person or persons;

c.

demand, presentment, protest, and
notice of any kind including, but not limited to notice under the laws of the State of Texas and notice of the existence, creation,
or incurring of any new or additional indebtedness or obligation or of any action or non-action on the part of CATI or any other
person, in connection with any Obligation or evidence of indebtedness held by Rogers as collateral or in connection with any Obligation
guaranteed by this Guaranty;

d.

except as may be provided for in
this Guaranty, any defense based upon an election of remedies by Rogers, including without limitation an election to proceed by
non-judicial rather than judicial foreclosure, that destroys or otherwise impairs the subrogation rights of LEI or any endorser
of the Note to proceed against CATI for reimbursement, or both; and

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e.

any duty on the part of Rogers
to disclose to LEI any facts she may now or subsequently learn about CATI, regardless of whether Rogers has reason to believe that
the facts materially increase the risk beyond that which LEI intend to assume, or has reason to believe that the facts are unknown
to LEI, or has a reasonable opportunity to communicate the facts to LEI. LEI understands and agrees that it is fully responsible
for being informed and keeping itself informed of the financial condition of CATI and of all circumstances bearing on the risk
of payment of any Obligations guaranteed by this Guaranty.

6.

Notwithstanding any contrary provision
of this Guaranty, beginning on the Funding Date and until all Obligations have been paid in full, even though the Obligations may
be in excess of the liability of LEI under this Guaranty, LEI waives any claims or other rights that it may now have or subsequently
acquire against CATI or any other guarantor of all or any of the Obligations that arise from the existence or performance of LEI’s
obligations under this Guaranty or any other instrument (all of these claims and rights are referred to as the “LEI’s
Conditional Rights”), including, without limitation, any right of subrogation, reimbursement, exoneration, contribution,
or indemnification, or any benefit of, right to participate in, or right to enforce any claim that Rogers now has or subsequently
acquires, regardless of whether the claim, remedy, benefit, or right arises in equity, under contract, statute, or common law,
by any payment made under this Guaranty or otherwise, including without limitation, the right to take or receive from CATI, directly
or indirectly, in cash or other property or by setoff or in any other manner, payment or security on account of the claim or other
rights. If, notwithstanding these provisions, any amount is paid to any guarantor on account of LEI’s Conditional Rights
and the amount is paid to LEI at any time when the Obligations have not been paid or performed in full, then the amount paid to
LEI shall be held in trust by LEI for the benefit of Rogers and shall immediately be paid to Rogers to be credited and applied
upon the Obligations, whether matured or unmatured, in the order that Rogers, in her sole and absolute discretion, shall determine.

7.

The amount of liability of LEI
and all rights, powers, and remedies of Rogers under this Guaranty and under any other agreements now or at any time subsequently
in force between Rogers and LEI, including any other guaranty executed by LEI relating to any indebtedness of CATI to Rogers, shall
be cumulative and not alternative and shall be deemed to include all rights, powers, and remedies given to Rogers by law. This
Guaranty is in addition to and exclusive of the guaranty of any other guarantor of any indebtedness of CATI to Rogers.

8.

LEI shall be liable for, and agrees
to pay on demand, all actual attorneys’ fees and all costs and other expenses incurred by Rogers that relate in any way to
the Note, this Guaranty, or to enforcing, collecting, or compromising any Obligations guaranteed by this Guaranty or in enforcing
or collecting upon this Guaranty against LEI, regardless of whether suit is filed.

9.

If any one or more provisions of
this Guaranty shall be determined to be illegal or unenforceable, all other provisions of this Guaranty shall nevertheless be effective
and enforceable and this Guaranty shall be interpreted as if the illegal or unenforceable provision was not included.

10.

This Guaranty shall inure to the
benefit of Rogers and her successors and assigns, including the assigns of any Obligations guaranteed by this Guaranty, and binds
the officers, shareholders, representatives, successors, and assigns of LEI. This Guaranty is assignable by Rogers with respect
to all or any portion of the Obligations, and if and when this Guaranty is assigned, LEI shall be liable to the assignees under
this Guaranty without in any way affecting the liability of LEI under this Guaranty regarding any Obligations that may be retained
by Rogers.

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11.

No provision of this Guaranty
or right of Rogers under this Guaranty can be amended, modified, or waived, nor can LEI be released from any of its Obligations
under this Guaranty, except upon the express written consent of Rogers.

12.

This Guaranty shall be governed
and construed in accordance with laws of the State of Texas. Venue for any action brought to enforce this Guaranty shall be and
is agreed to be proper in Montgomery County, Texas.

13.

LEI represents and warrants and
shall be estopped from denying that this Guaranty is made directly to Rogers and is independent collateral, separate and distinct
from any Obligations. This Guaranty is not intended as a guaranty of LEI’s own obligations.

14.

Any and all notices or communications
related in any way to this Guaranty may be given by certified mail with return receipt requested, by receipted courier, by overnight
delivery service, or by hand delivery and sent to the persons at the addresses set forth for each party below, or they may be given
by facsimile transmission or by e-mail transmission if the intended recipient has affirmatively stated that notice may be delivered
by facsimile or e-mail and the intended recipient has provided a valid facsimile number and/or e-mail address. Any notice delivered
by facsimile or e-mail sent or for which a return receipt is received at any time before 5:00 p.m. on a business day shall be deemed
to be delivered on that date. Any facsimile or e-mail notice not received by 5:00 p.m. on a business day shall be deemed to be
received on the first following business day.

Notices to LEI:

Anthony Schnur, Chief Executive
Officer

LUCAS ENERGY, INC.

450 Gears Road, Suite 780

Houston, Texas 77067

E-mail: TSchnurr@LucasEnergy.com

Notice may be delivered by
facsimile or

e-mail with proof of receipt.

[Remainder of page left blank
intentionally. Document continues on next page.]

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Notices to Rogers:

Louise H, Rogers

c/o Sharon E. Conway

Attorney at Law

2441 High Timbers, Suite 410

The Woodlands, Texas 77380-1052

E-mail address: SConway@SConwayLaw.com

Notice may be delivered by
facsimile or

e-mail with proof of receipt.

Any of the above contact
information or designated representatives for the purpose of notice may be changed by a Party or an authorized representative
of a Party providing written notice in the manner set forth above to the other Party, and the new contact information or
representative will then become effective. For all purposes under this Agreement, any notice given by Ms. Conway (or other
any other legal counsel designated by Rogers) on behalf of Rogers shall constitute notice by Rogers.

Executed as
of August 15, 2016.

Guarantor:

LUCAS ENERGY, INC.

	By:	/s/ Anthony  Schnur	 	Date of Signature:  August 25,
    2016
	 	ANTHONY SCHNUR, Chief Executive Officer	 	 

 

 

Lender:

 

	/s/ Louise H. Rogers	 
	LOUISE H. ROGERS, as her separate property	 

 

 

    	Loan Guaranty Agreement
Rogers - LEI - CATI Loan/August 15, 2016
	Page 5 of 5

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