Drilling, page-14

First, you need to borrow the stock in order to short it. Ususally that comes from institutions. There are very few corporate holders of this stock. It would however make sense for them to lend it out for the reasons outlined below.

AJL is pretty much a binary proposition. The drilling company in Oz is probably worth 5 cents or so (IMO).
Therefore if, for some reason, they can't get the gas thing to work, you have an upside of around 17 cents from these levels. Hardly seems worth it in the size that you could short something this illiquid.
Also, if they DO get the gas program underway, this thing could gap up to 50c and beyond (imo) in no time.

I understand nothing about anyone who would sell before we have more information about the shale gas. And, anyone who shorts a stock with the characteristics of this one, deserves to have it handed to them