www.refracktion.org Blog

Spirit having flown …

Spirit having flown …

Back in 2013 Centrica decided it would be a good idea to invest in the nascent UK shale industry. The details when they came out revealed that they would pay: £40,000,000 Paid Up front£60,000,000 Initial Carry £46,700,000 Contingent Carry payable after the flow testing of gas for six months As...

Riverstone runs dry

Riverstone runs dry

Yesterday Cuadrilla’s parent, AJ Lucas announced that it had “approved the acquisition, effective immediately, of Riverstone’s interest in the UK shale gas explorer, Cuadrilla Resources.” What does this mean? Well Riverstone had owned 45% of Cuadrilla and had invested $US 58 Million in 2010 for equity in Cuadrilla Resources Holding...

Thanks, but no thanks!

Thanks, but no thanks!

That seems to have been the general response to Cuadrilla’s parent company AJ Lucas’s attempts to winkle more cash from their beleaguered investors. The results are now in and we can see that they managed to raise a gross total of Au$28.6 million from the sale of about 440 million...

Please Sir! I want some more

Please Sir! I want some more

AJ Lucas have their bowl out again and are asking their investors for more cash. Last time they did this was back in January 2018 and we reported on that at the time. The idea of the offer is pretty straightforward – you are offered a number of shares for...

Would he lie to you?

A couple of weeks ago we commented on Mr Egan’s claim that reports of damage were in the “low two figures”. It was a strange claim given that we have heard from a variety of sources that there were over 100. So what are we to make of the publication...