Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

15 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

AJL, AJ LUCAS LIMITED
blacksheep
post Posted: Feb 7 2019, 09:14 AM
  Quote Post


Posts: 5,832
Thanks: 2149


In Reply To: blacksheep's post @ Oct 16 2018, 08:13 PM

Some positive news for AJL although " regulatory constraints" persist

QUOTE
Results confirmed the following:
• The shale contains substantial gas of a very high methane content with negligible impurities.
• The rock properties of the shale are highly conducive to fracturing for the delivery of gas into the wellbore.
• The Upper Bowland Shale may contain liquids, which could have the potential to upgrade the economics of the Bowland discovery.


QUOTE
Summary and next steps:
• Due to an intentionally conservative TLS only a small proportion of PNR1 well was effectively
fractured
• The stages that were hydraulically fractured demonstrated that the shale has excellent mechanical
properties for both fracturing and sand retention
• Natural gas flowed to the surface, from the very few stages of fractured shale, reaching a peak
rate of more than 200,000 standard cubic feet per day (scfd) and a stable rate of over 100,000
scfd
• Initial sampling confirms gas has very high methane content (mid to high 90%) which could be
delivered to the local gas grid with minimal treatment • Our preliminary scaling up of the PNR-1z flow results yields a flow range of between 3 and 8 million
standard cubic feet per day gas for a 2.5km lateral section with all stages effectively hydraulically
fractured
Cuadrilla has requested that the regulator reviews the TLS to enable the valued Bowland Shale
resource to be extracted effectively without comprising on safety or environmental protection
• Subject to outcomes of TLS review Cuadrilla plans to complete the fracturing of PNR well 1, fracture
PNR well 2 and continue flow testing in 2019

https://www.asx.com.au/asxpdf/20190207/pdf/...fpcnqlw54qn.pdf
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 16 2018, 08:13 PM
  Quote Post


Posts: 5,832
Thanks: 2149


More fracking pain for AJL's partner
Protesters Block Site Where Fracking In UK Resumes After 7 Years
QUOTE
Protesters gathered on Monday morning outside a drilling site in northwest England, where fracking is returning for the first time in seven years, after a last-minute request for an injunction failed at court on Friday.

On Friday, Justice Supperstone at the High Court in London dismissed a last-minute request for an interim injunction from a campaigner to prevent this from happening.

“We are delighted to be starting our hydraulic fracturing operations as planned,” Cuadrilla’s chief executive Francis Egan said, commenting on the decision.

https://www.zerohedge.com/news/2018-10-15/p...s-after-7-years
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 3 2018, 11:11 AM
  Quote Post


Posts: 5,832
Thanks: 2149


In Reply To: blacksheep's post @ Oct 2 2018, 12:58 PM

Today's company ann confirms media speculation re Mitchell Services Limited - MSV

QUOTE
The ASX has requested that the Company confirms or denies that the Indicative Proposal was received from Mitchell
Services Limited (ASX: MSV) as noted in the media, which the company confirms.


and

Angus Energy Completes Flow Test at Balcombe
QUOTE
AJ Lucas Group Limited (ASX: AJL)(“AJ Lucas”) is pleased to announce that Angus Energy Plc
(“Angus Energy”), the operator of the Balcombe licences, has safely completed a seven day
well test of a horizontal well. The well, Balcombe 2z, flowed at 853 Bopd(1) and 1,587 Bopd(1)
over a very short interval and whilst encouraging the test results are not conclusive and
further analysis and testing is required.

AJ Lucas holds a working interest in the Balcombe licences of 45.44%, which comprises a direct
licence interest of 18.75% and an indirect interest in the licences of 26.69% held by virtue of AJ
Lucas’s 47.45% shareholding in Cuadrilla Resources Holdings Limited. Angus Energy joined the
existing Cuadrilla / AJ Lucas partnership through the acquisition of a 25.0% interest in UK
onshore licence PEDL244, which includes the entire Balcombe Field discovery in West Sussex,
earlier in 2018.





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 2 2018, 12:58 PM
  Quote Post


Posts: 5,832
Thanks: 2149



AFR are suggesting - Listed rival makes play for AJ Lucas drilling business - the listed rival is Mitchell Services MSV. MSV has not gone into a TH and it's SP is currently 4.9c
https://www.afr.com/street-talk
QUOTE
AJ Lucas statement
AJ Lucas Group Limited (“AJ Lucas” or the “Company”) today announced that it received a
non-binding, incomplete and indicative proposal to acquire the Company’s drilling services
division
, Lucas Drilling Services (“Indicative Proposal”).

AJ Lucas has appointed financial adviser Highbury Partnership Pty Limited and legal adviser
Allen & Overy to assist it to conduct a strategic review of Lucas Drilling Services, which will
include a review of the Indicative Proposal.

The Board notes that there is no certainty that a binding offer for Lucas Drilling Services will
eventuate, and the Board and management continue to remain focused on the operations of the
business, including Lucas Drilling Services. The Board is confident of the attractive growth
opportunities currently available to Lucas Drilling Services under the ownership of AJ Lucas,
should the strategic review conclude that the best value will be delivered to shareholders by
retaining rather than divesting Lucas Drilling Services
.
The Board advises that shareholders do not need to take any action at this time and the Board
will continue to keep investors informed in accordance with its continuous disclosure
obligations.


Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Jan 27 2015, 09:28 AM
  Quote Post


Posts: 5,744
Thanks: 2084


In Reply To: nipper's post @ Jul 23 2013, 08:10 AM

can't inspire confidence
QUOTE
A new government report has cast doubt over plans to exploit Britain's shale gas potential.

The Environment Audit Committee (MP) has called for a new moratorium on the controversial fracking process, which is used to extract gas from tight rock formations such as shale. The EAC also deems the "extensive production of unconventional gas through fracking" as being inconsistent with the UK's obligations under the Climate Change Act, and it questioned whether the current regulations can protect the environment.

"Despite the assurances from some that environmental risks can be safely accommodated by existing regulatory systems, an extensive range of uncertainties remains over particular hazards," the report said. "A moratorium on the extraction of unconventional gas through fracking is needed to avoid both the inconsistency with our climate change obligations and to allow the uncertainty surrounding environmental risks to be fully resolved."

City broker Westhouse says the EAC report highlights the 'Catch-22' facing Britain's nascent shale gas industry. In its reasoning the EAC report questioned the economic benefits of shale, saying there is little evidence to suggest that fracking could be undertaken at the scale needed to be commercially viable in the UK or that it will bring gas prices down significantly. The trouble, however, is that many of the economic parameters remain unanswered without the planned next phase of evaluation, which requires fracking.

Westhouse analyst Mark Henderson points out that the drilling and fracking of test wells is necessary to either validate or disprove the case of UK shale. Industry lobbyist United Kingdom Onshore Oil and Gas (UKOOG), meanwhile, called the EAC report "rushed" and said the report's conclusions ignored most of the evidence of a properly regulated and safe industry in the UK.

"Calling for a moratorium achieves only one thing: increasing the levels of gas coming from outside the UK at a substantially higher environmental cost and with significant economic consequences," said UKOOG chief executive Ken Cronin. "The government has already announced that the next shale gas sites will not only be regulated by the four different regulators in line with 17 EU directives, requiring up to eight environmental permits per site, but also will be overseen by independent academics. "No evidence exists of a failure in the current multi-regulated arrangements."

The EAC's recommendation comes at a critical moment for UK shale. Today, parliament will debate the proposed Infrastructure Bill, which among other matters aims to simplify the planning process for horizontal drilling - it will mean that oil and gas companies could drill underneath properties, at depths of 300 metres or more, without having to get consent from the landowners at surface.

Projects will still need to be granting planning permissions at local authority level. A shale project in Lancashire faces delay after a local planning report last week recommended against a proposed drilling and fracking programme near Blackpool, on the basis of noise pollution and potential impacts on local traffic. The project operator Cuadrilla, which is partnered with British Gas owner Centrica, has since said it is prepared to add additional noise mitigation measures and requested a deferral of the scheduled planning decision to allow for further consultation relating to these additional measures.

The new uncertainties hit IGas Energy's AIM quoted shares, which fell 30% on Monday morning. IGas, like Cuadrilla, has shale gas projects in the Bowland basin in North West England and it intends to drill and frack wells in the UK.

This post has been imported from http://www.proactiveinvestors.com.au/compa...-ban-60307.html




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 23 2013, 08:10 AM
  Quote Post


Posts: 5,744
Thanks: 2084


QUOTE
BHP Billiton's former head of global petroleum production has described the UK shale gas opportunity as one of the most exciting he has seen in his career and flagged the potential start of pilot production within three years. Francis Egan, now chief executive of UK shale player Cuadrilla Resources, part-owned by AJ Lucas, said he was "very confident" in the industry's technical ability to develop the UK's huge shale gas resource.

However Mr Egan, speaking to The Australian Financial Review at Cuadrilla's headquarters in Lichfield, England, said the next two or three years were particularly important for gaining the public confidence necessary to move toward production. Cuadrilla and AJ Lucas last month brought in Britain's biggest household gas supplier Centrica as a 25 per cent partner in their highly prospective Bowland Shale venture in north-west England, which has expected recoverable resources worth some £140 billion ($232 billion).

The investment by the UK gas giant drove a decision by one of Australia's wealthiest entrepreneurs Paul Fudge, who made hundreds of millions of dollars from early investment in coal seam gas in Queensland, to lift his stake in AJ Lucas to 10 per cent.

AJ Lucas is also backed by major shareholder Kerogen Capital, an energy private equity firm set up by two expat Australians, both formerly of JPMorgan, Ivor Orchard and Jason Cheng. Meanwhile, the other main shareholder in Cuadrilla, which is chaired by former BP chief executive Lord Browne, is US private equity firm Riverstone Holdings. All have been lured by the potential for significant returns from an early investment in shale gas in the UK.

The British Geological Survey estimates resources in northern England alone could be 1300 trillion cubic feet of gas, of which at least 10 per cent could be recoverable, experts say.

"Technically, it's as exciting or more exciting than anything I've seen," Mr Egan said of the UK shale gas opportunity in an interview after a year in the CEO role. "We're at the start of a new industry."

Mr Egan said the investment by Centrica, the largest UK gas company that is also involved in renewable energy and oil, is a vote of confidence in UK shale. "They operate across the full spectrum: I don't think there's a company in the UK that is better positioned to take a view on shale being part of the energy mix," he said.

Matthew Roberts, managing director at Highbury Partnership, which managed the AJ Lucas equity offer through which Mr Fudge increased his stake, drew a comparison between Mr Fudge's investment in AJ Lucas through his company Belbay Investments and his early investment in Queensland coal seam gas through Pangaea Resources. Mr Fudge sold Pangaea to Origin Energy in 2009 for $660 million, three years after selling an initial CSG exploration asset to Origin for $70 million. "With Centrica, as Britain's largest gas buyer, that's a fantastic validation of where they see the potential for gas supply into the UK market in the medium term," Mr Roberts said.

Cuadrilla is applying for permits for up to six new exploration well sites and for approval to drill and fracture wells at both those sites and two existing sites over the next two years, Mr Egan said.

But he noted that if the initial results are good enough, the Bowland partners could move to pilot production after drilling and fracturing just two or three wells. That means in the best-case ­scenario pilot production could start in 2016, with output from a test well possible even earlier. "From the pilot project, you could move fairly quickly from there to commercial production," Mr Egan said. "With encouraging results, it's within a year of the pilot plant being up and running."

Mr Egan was president of production for BHP petroleum in Houston before leaving to take up the Cuadrilla role in July last year. His predecessor in the BHP role, Tim Cutt, took over as president of BHP petroleum on July 1 after leading the potash division in the interim.

Mr Egan said the population density in the UK was not necessarily a problem for shale development given much of the land in Cuadrilla's 1200-square­kilometre Bowland Shale licence was farmland or rural. He said Cuadrilla was committed to full community consultation on its exploration and had hired planning consultants Arup to carry out independent environmental impact assessments to bolster public confidence.

"From a political and community point of view, there is clearly resistance in seeing [shale] get developed," he said. "Quite a bit of that resistance is from a climate-change perspective, but it's dressed up as other environmental issues. If you are – and I am – very confident, we can address those issues. Then the real question is, should you develop your fossil fuel resources and there are parties that say we should keep them in the ground. The timing and nature of that challenge is different to something that I've experienced elsewhere."

Mr Egan said tax incentives for shale gas, nearby pipelines, increasing gas imports and a deep market all favour the development of shale in the UK. Cuadrilla has estimated its Bowland Shale permit holds about 200 trillion cubic feet of gas in place. Assuming 10 per cent of the gas is recoverable, it could supply seven years of UK gas demand.


http://www.afr.com/p/business/companies/ex...ZYHSBjzFrx60MaL



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: crooky  
 


nipper
post Posted: Dec 14 2012, 10:11 AM
  Quote Post


Posts: 5,744
Thanks: 2084


QUOTE
Shares in AJ Lucas have risen 25 per cent this morning after Britain lifted a ban on shale gas exploration. The Australian mining services outfit has a big stake in Cuadrilla, the UK's only shale gas player. Shale gas has helped transform the US energy market, lowering gas and coal prices, and offers Britain, Europe's biggest gas user, a means of switching to greener energy while bolstering its falling natural gas production.

"I am in principle prepared to consent to new fracking proposals for shale gas, where all other necessary permissions and consents are in place," Energy and Climate Change Secretary Edward Davey said in a ministerial statement.

Currently only shale gas firm Cuadrilla Resources has an exploration licence for shale gas in Britain and it says that production testing in Lancashire is unlikely before March. Cuadrilla is 42 per cent owned by AJ Lucas, the Australian drilling services provider.

Surging production

America is reaping the benefits of surging shale gas production through lower gas prices as well as the prospect of gas-intensive industries such as petrochemicals returning to home soil due to the abundance of low-cost energy.

Britain in May 2011 suspended hydraulic fracturing or "fracking" for shale gas, a process in which water and chemicals are injected at high pressure into rock formations to retrieve trapped gas, after it caused two small earthquakes near Blackpool.

The work can now resume subject to closer scrutiny for seismic risk and installation of a so-called traffic light system where operations will be automatically stopped in certain conditions.

"I think with this announcement that there are other companies who will apply for exploration licences," Simon Toole, DECC's head of licensing, exploration and development, said.

Approval to resume shale gas exploration had been widely expected before the end of the year as Davey said in October that he hoped to lift the ban.

'Turning point'

Cuadrilla Resources chief executive Francis Egan said the decision to allow it to explore a belt of gas-filled shale one mile thick at its Lancashire site was a "turning point for the country's energy future", adding it could create jobs, generate tax revenues and enhance Britain's energy security.

"Today's decision will allow continued exploration and testing of the UK's very significant shale resources in a way that fulfils the highest environmental and community standards," Mr Egan said.

Industry group Shale Gas Europe said that development will also make UK manufacturing more competitive as additional supply will help lower gas prices.

Cuadrilla's expected shale gas production in Lancashire could cut wholesale gas prices in Britain by 2-4 per cent from 2021, a recent study by consultancy Poyry found.

The government announced this month that it would create a dedicated government office to simplify regulation and to offer tax breaks to the shale gas industry.

Britain is increasingly dependent on gas imports as domestic supply dwindles, with gas output last year slipping below imports for the first time since records began in 1960.

The British Geological Survey (BGS) estimates Britain's onshore shale reserves at 5.3 trillion cubic feet, which would be enough to meet Britain's gas consumption for one and a half years, although Cuadrilla Resources has put its figure as high as 200 trillion cubic feet. BGS is expected to upgrade its estimate of UK shale gas resources early next year.

At the time of the ban in May 2011, no other company had applied for a UK shale gas exploration licence.

UK versus US

Helped by its shale reserves, the United States is expected to become almost self-sufficient in oil and gas by 2035 and will overtake Russia in gas production by 2015 and Saudi Arabia in oil production by 2017, the International Energy Agency said in November.

Shale has made far slower progress in Europe, where it has met with environmental concerns that have triggered bans on fracking in France and Bulgaria although coal-reliant Poland remains a strong proponent.

Legal differences also help explain the US lead in shale as underground mineral rights concerning fossil fuels there are considered the property of individual landowners who earn royalties from shale gas production whereas in Britain, for example, these belong to the crown.

The European Parliament rejected a ban on shale gas on November 21 and asked for a robust regulatory regime to address environmental concerns. The European Commission is expected to deliver this next year.

Mr Davey, who heads Britain's energy ministry, said concerns raised by environmental groups regarding fracking chemicals contaminating drinking water were unfounded, based on the latest available evidence.....

Read more: http://www.smh.com.au/business/world-busin...l#ixzz2EyqfA9wH




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
veeone
post Posted: Feb 28 2012, 08:50 AM
  Quote Post


Posts: 5,050
Thanks: 1115


Entitlement Offer Underwriting Allocation

On 18 November 2011, AJ Lucas Group Limited (Company) announced a 1 for 2 non-renounceable pro rata entitlement offer for new ordinary shares (Entitlement Shares) at an offer price of $1.35 (Offer Price) per new fully paid Entitlement Share to raise approximately $51.3 million (Entitlement Offer).

The Company has been informed by Gleneagle Securities (Aust) Pty Limited (
Underwriter) that a valid application, together with the application monies, will not be received from Andial Holdings Pty Limited by the extended deadline. The Underwriting commitment is conditional on the Offer being 100% sub-underwritten, and the Underwriter has agreed to perform the Underwriting to the extent only of the performance of the underlying sub-underwriting. As a result, the Entitlement Shares issued under the Entitlement Offer will be scaled back and, taking into account existing applications received, a total of 26,547,663 Entitlement Shares will be issued and the total amount raised by the Entitlement Offer will be approximately $35.8 million.

The shares subscribed for under the Entitlement Offer will be allotted and issued by the Company today, with holding statements to be despatched by 5 March 2012.

The Company is meeting with its advisers and financiers as a matter of urgency and will make an announcement regarding the shortfall in funds raised and its plans to deal with that shortfall as soon as possible.



 
veeone
post Posted: Feb 17 2012, 10:25 AM
  Quote Post


Posts: 5,050
Thanks: 1115


AJ Lucas Group Limited (AJL) requests a halt in trading of its shares effective immediately pursuant to Listing Rule 17.1.

Considering the size of the shortfall, the Underwriter is in discussions with Andial and Kerogen Investments No. 1 (HK) Limited, the two principal sub-underwriters, about amending their respective Sub-Underwriting Agreements to enable the Underwriter to have greater flexibility with the allocation of the shortfall.

The trading halt is requested to give the Company and the Underwriter time to complete these discussions.

We request that the trading halt last until an announcement is made, which will be no later than the opening of the market on Tuesday, 21 February 2012.

The Company is not aware of any reasons why the trading halt should not be granted.



 
veeone
post Posted: May 25 2011, 10:27 AM
  Quote Post


Posts: 5,050
Thanks: 1115


Asking for suspension today and looks like it might be a while going from this paragraph out of it. V1

Lucas currently expects that it may take up to 6 weeks to finalise all of the discussions and prepare the appropriate documentation in a form that will enable Lucas to provide complete information to the market. Lucas is not aware of any reason why ASX should not grant the voluntary suspension, or of any other information necessary to inform the market about the voluntary suspension.



 
 


15 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING