Good question. I was wondering the same. But think about it. Any further cost for Cuadrilla will be funded by AJL investors and Kerogen share will be offset by debt-for-equity swap as in the last capital raise and therefore no further cash contribution from K in whatever future development.
The only good thing about this deal is that AJL will have a bit more freedom to move things forward (or backward).
What is your view?
WTF, page-13
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