This was then the now own 16.52% anybody think possible takeover...

This was then the now own 16.52% anybody think possible takeover target. Maybe on the cards but I can see this getting pushed up from here. AJ Lucas did not buy in to lose money so

1. Either they know that they can influence and turn this coy around or

2. Maybe just maybe they want the whole thing. I t would not suprise me but either way it doesnt matter as the chart has broken its upward resistance and it has some awesome backing now from AJ Lucas.




ABN 12 060 309 104
S:711064_1 DIW
5 February 2008
Australian Stock Exchange Limited
Via Electronic Lodgement
AJ Lucas completes Subscription for Shares in Sydney Gas
As announced on 14 January 2008, AJ Lucas Group Limited (ASX Code: AJL) has today completed a
subscription for 52,505,665 ordinary shares in Sydney Gas Limited (ASX Code: SGL) at an issue price of 34
cents per share for a total cost of $17.9 million. The subscription, together with ordinary shares in Sydney
Gas already owned, increases Lucas’ total shareholding in Sydney Gas to 61,802,102 ordinary shares
equivalent to 15.35% of its enlarged issued share capital.
The subscription price is less than the 38 cents per share previously announced reflecting the recent trading
price of SGL’s shares together with the benefits to Sydney Gas expected in the Technical Services Agreement
and the Drilling Services Agreement. Otherwise the terms of the arrangements between AJ Lucas and Sydney
Gas are the same as previously announced.
Mr Allan Campbell, Executive Chairman of AJ Lucas said: “We are very pleased to be working with Sydney
Gas to assist it proving up more gas reserves and commercialising its coal seam gas. We have long believed
in the coal seam gas potential of the Sydney Basin. Our directional drilling technology has already been
instrumental in identifying coal seam gas at Camden and look forward to applying our drilling technology
and expertise in other areas within the Sydney Basin, most likely in the Hunter”.
For further information, please contact Allan Campbell on 02 9809 6866.
Allan Campbell
Chairman & Chief Executive Officer
About AJ Lucas Group Limited
AJ Lucas is a leading provider of both specialist infrastructure services and mining services. It is the leading supplier of drilling
services to Australia’s coal and coal seam gas industries. It is also Australia’s largest builder of long distance gas pipelines. Other
divisions provide gas management services to the coal and coal seam gas industry, construction, civil and property services.