Sorry to reply to my own post, but just to underline the value gap, I give you another, similar case.
The largest shareholder in AJL is Kerogen. They took a massive stake in IGAS, one of the top 3 shale players in the UK (Cuadrilla, IGAS and Ineos). They play the same value gap that is currently in that market. That company now is debt free (like Cuadrilla), and has its exploration program financed by farm-in (like Cuadrilla/AJL).
So, the UK shale market is starting to develop. Positions have been taken in, the acreage (for free) has been absorbed, farm-in deals for first exploration are in play, and the actual drilling is starting.
UKOG is more conventional, although they may frack in future. That's why they were first of the block. The differentiator to why this didn't happen for decades is not the fracking; it is because of the technology of directional drilling.
Good luck everyone. It will be a dynamic year.
AJL Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
