AJ Lucas deals

DRILLER AJ Lucas has made a couple of moves in the past 24 hours, outlining plans to recapitalise its balance sheet with equity raisings worth nearly $150 million while subsidiary Cuadrilla sells a stake in the Bowland shale to Centrica.

Cuadrilla sold a 25% stake in its permit area in the Bowland shale to Centrica for an upfront 40 million pounds ($A65.3 million), with AJ Lucas netting £10 million of that.

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