The only 'solution' is & always has been to ASAP, drill, frack &...

The only 'solution' is & always has been to ASAP, drill, frack & flow commercial qualities of gas in the UK before AJL becomes insolvent.

Insolvent means, can not raise anymore money to stay afloat as from a business generated cash flow point of view, it is insolvent now. Very much like a greenfields mining company, it is relying on loans & CR's.

I have no idea why K has not taken this out already but this was discussed a while back & maybe something to do with the advantages of having an existing company structure or the implications for permit ownership if AJL disappears.

There are other 'smart money' investors involved here, Paul Fudge with just over 12% of AJL, must have seen the situation. It will be interesting to see if he takes up his entitlement in the coming CR.

The CR will increase K holding if it takes up underwritten shares but will not if all investors take up the offer. It will reduce it's hold over shale assets once A$25Mil is paid off the loan via CR money.

It all hinges on a successful CR, which all hinges on a successfull drill, frach & flow. Hopefully we have some fracked & commercial qualities of flowing gas by the time the CR rolls around. If that is the case then we live to play some more.

The one wild card I can not understand here is the Balcombe drill, which was successful in that hydrocarbons were present & if flowed could have huge SP moving potential. At the present time it appears to be adding zero value to SP, so what is there to lose ? I know it is obviously not a 'sure thing' untill tested but hopefully there is a valid reason for this not being pursued.

Once the appeal is out of the way, hopefully by mid March, it will be plan sailing through to drill, frack & flow, no earth tremors & plenty of flowable gas.

It's been a long & painful wait. The only thing that has saved me here is digging deep & buying up some of those tax loss shares for sale last year to get my average down.
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