AJ Lucas

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AJ Lucas is an Australian drilling and engineering company that is one of two founding investors in controversial UK frackers Cuadrilla Resources. It owns 44 per cent of the privately owned Cuadrilla; the other main shareholder is Riverstone LLC and Cuadrilla's management team.

Loan facility extended

In April 2019 AJ Lucas (ASX: AJL) issued a press release stating it had reached agreement with its principal debt provider, OCP Asia (Singapore) Pte Ltd (“OCP Asia”), to 'defer its obligation a pay down of the balance outstanding from its current balance of US$47 million to $US 20 million from June 30 to September 30; and to extend the termination date to pay down the balance of the principal from January 2020 to end March 2020.' [1]

No mention relating its investment in Cuadrilla was included in the announcement.

People

  • Allan Campbell, former CEO, stepped down in early 2015 after over 20 years with the company.

Notes

  1. nn: AJ Lucas senior loan facility amendment, Hot Copper, 3 April 2019