Couldn't agree more mb11 and others who have posted their frustration at the decision by LLC.
I posted a while ago that I thought the LLC would make the decision, they after all are the local government authority charged with "looking after"the members of their constituency demands, wishes, call it what you like.
I may be wrong but if it is anything like local government in Oz, then the buck for that particular area stops with the local council, and both state and federal government intervention is non-existent, unless told otherwise.
With that thought in mind I make the suggestion that maybe the LLC have taken the soft option and refused Caudrilla's application on local issues only, and perhaps, just perhaps are now throwing the decision that will affect the whole of the U.K. over to the federal government for their intervention. I find it very difficult to accept that a local government ruling has the power to over-rule the U.K's federal governments strategy and desire for that country to become energy self reliant, I may be wrong.
Of course my comment is just speculation but I wonder if Cuadrilla really expected the LLC to "open the batting " for shale gas exploration in the U.K.. I think they knew deep down they were on a hiding to nothing with the LLC and some of the naïve members of that particular community, and that their fate relied on the support and intervention by David Cameron.
The share price is painful to see, it is at levels now that I personally haven't seen before, not a good thing for sure as a long term holder, but I guess in reality the market reacts to fact only, and not possibilities, well in AJL's case anyway.
Unless there is a very quick over-riding decision by DECC on a national interest level, I think the road to recovery, if there is one, is going to be a very long, and bumpy ride, not that it hasn't been one already.
I confess to not having a good understanding of the U.K.'s population feelings about shale exploration, but with an election coming up soon, if Cameron is going to over-rule the LLC's decision, he doesn't have a lot of time.
I don't see any joy at all in the short term of our s/p improving, once again I hope I am wrong, but maybe there are some "believer's "out there who once again see the current price as a buying opportunity, just be aware and remember the adage of the falling knife.
It's hard to be positive today, but the "fat lady" hasn't started singing yet.................has she?
AJL Price at posting:
49.0¢ Sentiment: Hold Disclosure: Held
