43.7%+25%=57.78%

Has anybody ever seen this figure reported (43.7%). I am familiar with AJL holding 42% of Cuadrilla. Total share in Bowland now at 57.78%. Relatively small change but at the business end, perhaps even as close as the farm in deal, will result in significantly more funds. And don't we need it.

I'm quite satisfied with todays announcement. If holders are scared of dilution, top up at current levels (volume permitting). Highly anticipating this farm in agreement as it could bury this wall of debt in our wake. Refinancing of the loan buys us more time. All in all meeting my expectations.

For those unaware, you don't have to look too far for recent European shale deals. Albeit signed with the government and more pressing needs for energy independence in the Ukraine, Shell inked a $10 Billion dollar deal for a 50% stake in a 40ish TCF asset. By no means a perfect proxy but certainly an indication of market perspective.

Godd luck all, especially fellow long termers.