MARKETS

AJ Lucas to take $157M hit from UK frac ban

AUSTRALIAN oil and gas microcap AJ Lucas expects to incur a $157.3 million impairment as a result of the UK government's decision to reimpose a ban on fraccing.

AJ Lucas to take $157M hit from UK frac ban

  AJ Lucas holds a dozen tenements onshore England via its subsidiary Cuadrilla Resources.  The  company has bullishly pursued development of its Preston New Road project in Lancashire since 2016,...

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