AJ Lucas Group Limited announced today that it had entered into an agreement with Toyota Tshusho Corporation for the sale of its 15% interest in ATP651 for $98.5 million. ATP651 is located in Queensland's Surat Basin and is operated by QGC, part of the BG Group of companies.

Commenting on the announcement, Lucas executive chairman Allan Campbell said "This is another very satisfactory result for Lucas. Following the sale of our interest in the Gloucester Basin a year ago, this is another example of the company's ability to identify quality resource properties at an early phase and assist in developing them to a more mature stage where a major energy company or investor can take them through to commercialisation."

"We are delighted with the outcome of the sale process, with recognises the prospect's high quality and and strategic value."

Completion of the transaction is subject to FIRB approval, satisfaction of conditions precedent and other registrations and is expected to occur early in 2010.