What stands out today is that some of the groups/people opposing fracking, are starting to give out statements that spin this as a win for them.
That equals conceding defeat in political terms. Labour has been allowed a number of amendments, most of which have little to no impact for Cuadrilla.
Critical is that the, for outsiders, unexpected sabotage amendment regarding a moratorium did not succeed. In fact, the result was a battering of the protestors.
And lets face it, the protestors are a very small group of people. All there arguments have been put aside by the planners in Lancashire. They have just advised a rejection because of a technicality, that will be overcome in either further mitigation or due to an appeal by Cuadrilla. Having all other issues approved in Lancashire has been a major achievement.
People do not seem aware of this, but Cuadrilla is on the verge of exploring what will become the largest gas field of Europe. And we own 45% of it.
Below $7 the AJL share is on the cheap side.
AJL Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
