Search Follow us

AJ Lucas Group (AJL)

Business description

AJ Lucas has investments in the exploration and commercialisation of shale gas in the UK through licence equity interests and a stake in Cuadrilla. AJL also has two Australia-based operating business units: Drilling Services (LDS) and Engineering & Construction (LEC).

Stock data

Market cap.A$116.3m
Last closeA$0.16
High / Low (52 weeks)A$0.4 / A$0.1
Stock market listingAU
Forecast net debt (A$m)86.3
Forecast gearing ratio (%)67
TeamResources - Oil & Gas
SectorOil & gas

Price performance

Relative *(25.4)(55)(59.2)

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation Aminex
Andes Energia Antares Energy
Athabasca Resources AusTex Oil
AWE Azonto Petroleum
Bankers Petroleum Bitesize Briefing
BNK Petroleum Bowleven
Bridge Energy Buru Energy
Cairn Energy Canacol Energy
Canadian Overseas Petroleum Canoel International Energy
Cap Energy Carbon Energy
Carnarvon Petroleum CBM Asia Development
Central Petroleum Challenger Energy
Coastal Energy Columbus Energy Resources
Cooper Energy Core Laboratories
Cue Energy Denbury Resources
DEO Petroleum Deutsche Rohstoff
Diversified Gas & Oil Dragon Oil
Drillsearch Energy Egdon Resources
Elk Petroleum Energy XXI
Exillon Energy Exoma Energy
Falkland Oil & Gas Faroe Petroleum
Fastnet Oil & Gas Forum Energy
G3 Exploration Gasol
Genel Energy Genie Energy
Great Eastern Energy Corporation Greka Drilling
Gulf Keystone Petroleum Gulfsands Petroleum
Hawkley Oil & Gas Hellenic Petroleum
Hurricane Energy Hydrodec Group
IPB Petroleum Ithaca Energy
JKX Oil & Gas Karoon Gas
Kea Petroleum Kina Petroleum
Kreuz Holdings Lansdowne Oil & Gas
Leed Petroleum Leigh Creek Energy
LGO Energy Lion Energy
Liquefied Natural Gas Lochard Energy
Madagascar Oil Madalena Energy
MEC Resources Mediterranean Oil & Gas
MEO Australia Mosman Oil and Gas
Nautical Petroleum New Standard Energy
New Zealand Oil & Gas Nido Petroleum
Nighthawk Energy North Sea Energy
Northern Petroleum Norwest Energy
Otto Energy Pacific Rubiales
Parex Resources Petrel Energy
Petro Matad Petroceltic
Petromanas Energy Petrominerales
Po Valley Energy Premier Oil
President Energy Pura Vida Energy
Quadrise Fuels International Ramba Energy
Range Resources Real Energy
Real Energy Corporation Regal Petroleum
Renergen Rockhopper Exploration
SacOil Holdings Salamander Energy
SDX Energy Sefton Resources
Senex Energy Sequa Petroleum
ShaMaran Petroleum Simba Energy
SOCO International Solo Oil
Sound Energy Sound Oil
Sterling Energy Stratic Energy
Tethys Petroleum Touchstone Exploration
Tower Resources TransAtlantic Petroleum
TransGlobe Energy Valiant Petroleum
Vermilion Energy Victoria Oil & Gas
Wentworth Resources WestSide Corporation
Xcite Energy

Company news

What Is AJ Lucas Group Limited's (ASX:AJL) Share Price Doing?

Tue, 15 May 2018 20:03:45 GMT

AJ Lucas Group Ltd in ASX trading halt

Mon, 28 Mar 2016 21:38:21 GMT

When Will AJ Lucas Group Limited (ASX:AJL) Become Profitable?

Tue, 01 May 2018 05:48:45 GMT

Should You Buy AJ Lucas Group Limited (ASX:AJL)?

Mon, 23 Apr 2018 22:07:30 GMT

Is AJ Lucas Group Limited (ASX:AJL) A Financially Sound Company?

Sat, 07 Apr 2018 03:40:41 GMT

Investment summary

Cuadrilla has become the first operator to have flowed gas from a horizontal shale gas exploration well in the UK. Initial results are encouraging, with recovered gas containing very high methane content (96%), no H2S and minimal CO2. Core samples suggest the Bowland shale is quartz rich, with low clay content and excellent properties for fracturing. Gas flowed to the surface from PNR1-z at a peak rate of 0.2mmscfd, but with just two of 41 installed stages along the horizontal section fully fractured as designed. Less than 14% of sand planned for injection was put in place as Cuadrilla attempted to operate within the regulatory micro-seismic traffic light system. Cuadrilla estimates that a 2.5km horizontal well, with all stages fractured as planned, would have a potential initial production (IP) rate of 3–8mmscfd (no IP time period stated). Data were not provided on type curve or potential estimated ultimate gas recovery (EUR) given the limited duration of the test. EUR would be a key additional input when determining commerciality. In our initiation note published on 9 April 2018, we estimated a minimum commercial 30-day IP rate of 5mmscfd for a 2.5km lateral.

Last updated on 07/02/2019

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2017A 122.6 (3.8) (36.3) (6.67) N/A N/A
2018A 127.1 15.4 (16.7) (1.14) N/A N/A
2019E 127.2 13.5 (8.9) (1.47) N/A 5.3
2020E 129.7 13.9 (4.0) 6.89 2.2 9.7

Last updated on 28/01/2019

Latest video

Bitesize briefing – AJ Lucas Group

Industry outlook

AJ Lucas has investments in the exploration and commercialisation of shale gas in the UK through licence equity interests and a stake in Cuadrilla. Central government supports the exploitation of shale gas resource in order to increase domestic energy security and to support intermittent renewable energy sources.

Last updated on 01/02/2019

Key management

Phil Arnall, Chairman
Austen Perrin, CFO
Marcin Swierkowski, Company Secretary

Company address

Level 6, 1 Elizabeth Plaza
North Sydney, NSW
+61 (0) 2 9490 4000
View website