Euro Pacific analyst Joel Musante downgraded Lucas Energy to Sell with a $1 price target on shares. Musante said Lucas Energy agreement to acquire non-operated properties in Oklahoma with ~1,200 BOEPD of production from numerous sellers for $80.7M appears "grossly overvalued." The analyst believes the properties are optimistically worth one-fourth of the estimated deal price, and at current commodity price levels, he does not believe that the assets would provide sufficient coverage for the $31.4MM of senior debt that will be assumed in the transaction.