Lucas holds interests in a number of licences all situated in the UK. It holds direct interests in licences through its 100% owned subsidiaries, and indirect interests through its 96% 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.
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 96%, plus Lucas Direct Interest.
Spirit Energy is a subsidiary of Centrica PLC and has advised Cuadrilla and AJ Lucas that it intends to exit and transfer its interest in the Bowland and Elswick licences back to AJ Lucas and Cuadrilla for a Nominal Sum which has not yet been reflected in the table above.