Ann: AJ Lucas completes placement and investor presentation, page-15

My latest prognostication is the deep pocketed holder of the 2/3 stake and the debt now is an oil major of some type. Given that HK and BVI are used for holding companies, both with British connections, it suggests City of London. AJL has a pool of drilling expertise which is non American and thus more suitable as a vehicle for shale gas fracking. Hiding behind tax haven identities would give protection from lots of dotty greenies giving trouble to the corporate entity. You know, picketing and all that. Could even be BP or somebody, or Shell, or half a dozen others. To such majors a hundred million here or there to kick it off is relatively minor investment.