NGE Notes: Cuadrilla Shareholder Confirms Investor Talks

Australian based AJ Lucas, which owns a 42 per cent stake in Cuadrilla Resources, has confirmed reports that the UK shale gas explorer is holding preliminary talks with major investors.

Shares of the engineering, building and services company which owns a 42 per cent stake in Cuadrilla, rose in trading on the Australian Stock Exchange Monday morning.

"[Lucas] confirms that, as part of its and Cuadrilla's ongoing review of the options for appraisal and development of the Bowland Basin, discussions are being held with a number of parties regarding the future development of the Bowland Basin," Lucas said in a statement to the stock exchange.

"However, these discussions remain at a preliminary stage and the company is not in a position to advise whether any agreement will result from them."