Lucas holds interests in a number of licences all situated in the UK. It holds direct interests in licences through its subsidiaries, and indirect interests through its 47.4% ownership interests in Cuadrilla which in turn holds interests in licences in its own right. Cuadrillia is also the operator of all licences that Lucas has any direct or indirect interests in, with the exception of the Balcombe licence of which Angus Energy Plc is the operator.
As announced to the ASX on 22 January 2018, Lucas and Cuadrilla agreed to a partial farm-out of the Balcombe Licence under which Angus Energy acquired a 25% interest in the licence and has become the operator.
Below are details of Lucas' licence holdings:
Acreage are shown as per the UK Oil and Gas Authority, which is an executive agency whose role is to regulate, influence and promote the UK oil and gas industry.
Lucas Direct interest represents Lucas working participation and beneficial interest in the licence.
Lucas total effective interest comprises the Cuadrilla interest multiplied by Lucas' voting ownership interest in Cuadrilla of 47.6%, plus Lucas Direct Interest.
Spirit Energy is a subsidiary of Centrica PLC.