sale of 25% interest in bowland prospect, page-39

Hi Careho - two possibilities

1. AJL debt is (was as of July) so huge that the SP may not have bounced because of the ever present possibility that AJL would become insolvent before Cuadrilla could do it's thing. Remember they 'only' got 10Mil pounds directly out of the deal, not enough to make any sort of meaningful debt repayment & in fact not even nearly enough to pay the tax man. So to be on the safe side raise on the back of the JV announcement with all the big investors lined up with the cash.

2. IMO the big boys look after the big boys & they control the company so incase there IS a huge spike in AJL SP they would have to pay more for 49.99% control. Remember we are in a new game with new players & IMO the small investor is just along for the ride. I am happy to pay $1.20 to increase my holding by 80% & you can bet your bottom dollar there are many big holders that are also.

As to which of the above is more likely I do not know but if I was a betting man I would put it on #2 + what the share price will do I am unsure but my gut tells me it will increase over the very short term but the next couple of weeks will tell.

What ever, these are very exciting times for AJL, I personally have been waiting for this stage of the game for several years = JV with outstanding partner, huge debt reduction of AJL through underwritten CR.

Good luck with your decision re AJL what ever that maybe.