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tgn01

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24/05/23

22:21

Post #: 67948052
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Originally posted by SunderlandTech: ↑

In 2008, AJ Lucas bought Mitchell drilling (now Lucas drilling) for $150 million which was 5.6 x EBITDA.

Lucas drilling made $5.6 million EBITDA in the March 2023 quarter. So annualised EBITDA might be $22.4 million. Using an EBITDA multiplier of 5.6 gives 5.6 x 22.4 = $125.5 million value for drilling business.

AJ Lucas bought 45% of Cuadrilla from Riverstone in February 2020 for $2 million after fracking was banned. So Cuadrilla might be worth about $4.5 million.

$125.5 million Lucas drilling + $5.5 million Cuadrilla - $100 million debt = $30 million net worth.

$30 million net worth / $1.38 billion shares = 2.2 cents per share.

The march 2023 quarter was a bit of a disapointment after the very good December 2022 quarter. Hence the recent collapse in the share price. If the June quarter has better profit then the share price should recover.

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Why would AJL want to sell Cuadrilla for that price which practically make no difference to the valuation??

AJL Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 0.6¢		Change 0.000(0.00%)		Mkt cap ! $8.254M

Open	High	Low	Value	Volume
0.6¢	0.6¢	0.6¢	$1.407K	234.5K

Buyers (Bids)

No.	Vol.	Price($)
2	106048	0.6¢

Sellers (Offers)

Price($)	Vol.	No.
0.7¢	1119433	5

View Market Depth

No.	Vol.	Price($)
2	106048	0.006
12	3890528	0.005
8	3440489	0.004
4	1830000	0.003
2	1150000	0.002

Price($)	Vol.	No.
0.007	1119433	5
0.008	1773031	7
0.009	214436	1
0.010	204118	3
0.012	22500	1

Last trade - 13.33pm 28/07/2025 (20 minute delay)

AJL (ASX) Chart

Break up value, page-3

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Break up value, page-3

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