Macquarie Park. Recapitalisation plan

The drilling services and oil and gas investment company, AJ Lucas, based at Macquarie Park, has received the capital injection it need, from the Hong Kong-based Kerogen Capital, to ensure survival and maintain its investment in a potentially lucrative shale gas play in Europe, according to The Australian Financial Review. The company’s shares were suspended in may and are expected to remain that way until shareholders approve the recapitalisation plan.

Ryde. Company sells its $98.5m stake

Mining services and construction company, AJ Lucas, at Ryde, has entered into an agreement to sell its 15 per cent stake in ATP651, an exploration tenement located in Queensland’s Surat Basin, for $98.5 million, to Japanese company, Toyota Tsusho, according to The Australian Financial Review

Ryde. Good news in the pipeline

Broker, JP Morgan said the engineering services company AJ Lucas Group’s earnings could grow over the next few years as the demand for coal seam drilling services and pipelines increases. The company’s investment in Queensland coal seam gas also has a potential upside.

Macquarie Park. AJ Lucas revenue up 43%

Infrastructure and engineering firm, AJ Lucas, at Macquarie Park, boosted revenue by 43 per cent, in the first half of the 2008-09 financial year. Net profit after tax was up 1,9 per cent to $160.3 million. Company CEO, Allan Campbell, said the strong first half result reflected the company's strategic positioning in providing services to the energy and water sectors, which were experiencing growth despite the downturn in economic activity as a whole