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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Star Energy Group Plc | STAR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.025 | 0.21% | 12.10 | 16:35:22 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 12.10 | 12.075 |
| Industry Sector |
|---|
| TECHNOLOGY HARDWARE & EQUIPMENT |
| Top Posts |
|---|
Posted at 24/4/2024 13:50 by dannymaz89 Star Energy (STAR LN) 11.1p, Market Cap £14m:Transition strategy continues Star reported average FY23 production of 2.1kboe/d generating £49.5m revenues and £15m operating cash flow (before working cap movements) to end the period with net debt of £1.6m as at 31st December. The Company guides average FY24 production of 2.0kboe/d and operating costs of c.$41/boe, which is based on £5.5m cash capex that includes near-term incremental projects with short cycle returns and maintenance. Star's independent CPR estimated a small increase in YE23 reserves to 11.7mboe (1P) and 17.5mb (2P), which has a pre-tax NPV of $143m and $235m respectively, plus 18.6mboe of 2C contingent resources. The Company commented that its UK projects continue to suffer from regulatory creep and ever-increasing delays in obtaining regulatory approval for environmental permits, which are commonly in excess of 12M.Star continues to optimise its UK oil and gas assets by investing to maximise recovery from the existing 2kboe/d onshore production base and progress near term incremental development opportunities to utilise the £240m tax loss.However, management recognised on the results call that the UK onshore E&P sector remains out of favour and that the market gives little value to its pivot towards the growth of the geothermal business in the UK and in Croatia.The Company is looking to bring in new partners in 2H24 to invest in development projects, but acknowledged that asset sales might also help to demonstrate the industry value of the UK oil and gas portfolio. Despite Star's early mover advantage on geothermal energy that can be funded via its new five-year 25m credit facility, we think the market needs more clarity on UK tariffs and Croatian funding partners to enhance visibility on the opportunity set and commerciality of these projects. |
Posted at 24/4/2024 08:54 by ashkv Crazy valuation on Star EnergyEnterprise Value (EV) / EBITDA -> $20,352,572 / (GBP16,1000,000 * GBPUSD 1.24) At a share price of 11.5p STAR EV/EBITDA = 1.02 Times!!! [A compelling 4.89 Times including Decommissioning Provisions] Free Cash Flow Yield% (Market Cap / Free Cash Flow) -> £15,000,000 / £14,813,365 At a share price of 11.5p STAR Free Cash Flow Yield =101.2%!!! [FCF still a whopping 19.1% including Long Dated Decommissioning Provisions -> Note 2P NPV10 = $235 million at $72 BRENT] DeGolyer & MacNaughton updated CPR values 2P NPV10 at $235 million (2022: $215 million) using an oil price assumption of c.$72/bbl for 5 years, then inflated at 2-3% p.a. from 2028 to 2050 2P NPV10 US$235 million AT $72/bbl Brent Price ASSUMPTION!!!! 66p new target Cannacord Equity Research -> "Valuation, target price and rating We take account for our new commodity assumptions and make a number of adjustments to our model, taken together we increase our risked NPV10 based target price to 66p (from 55p) and maintain our Buy rating on Star Energy" At current oil prices STAR are making over £2m in profit every single month!!!! |
Posted at 24/4/2024 08:41 by ashkv Crazy valuation on Star EnergyEnterprise Value (EV) / EBITDA -> $20,352,572 / (GBP16,1000,000 * GBPUSD 1.24) At a share price of 11.5p STAR EV/EBITDA = 1.02 Times!!! Free Cash Flow Yield% (Market Cap / Free Cash Flow) -> £15,000,000 / £14,813,365 At a share price of 11.5p STAR Free Cash Flow Yield =101.2%!!! DeGolyer & MacNaughton updated CPR values 2P NPV10 at $235 million (2022: $215 million) using an oil price assumption of c.$72/bbl for 5 years, then inflated at 2-3% p.a. from 2028 to 2050 2P NPV10 US$235 million AT $72/bbl Brent Price ASSUMPTION!!!! 66p new target Cannacord Equity Research -> "Valuation, target price and rating We take account for our new commodity assumptions and make a number of adjustments to our model, taken together we increase our risked NPV10 based target price to 66p (from 55p) and maintain our Buy rating on Star Energy" At current oil prices STAR are making over £2m in profit every single month!!!! |
Posted at 24/4/2024 08:25 by ashkv STAR Share Price: 11.50pBrent: $88.50 STAR Current Share Price vs 52 Week low of 7.12p on 29 Feb 24: 61.52% STAR Current Share Price vs 52 Week High of 19.98p on 28 Apr 23: -42.41% Total Voting Rights: 128,811,866 Market Cap GBP: £14,813,365 GBPUSD: 1.240 Market Cap USD: $18,368,572 Net Debt-GBP (31 Dec 23): £1,600,000 Net Debt-USD (31 Dec 23): $1,984,000 Enterprise Value (USD): $20,352,572 STAR Actual Production Average Full Year 2023 Boe/d) 2,100 STAR 2024 Production Guidance (Boe/d) 2,000 STAR/IGAS Actual Average Production 2022: 1,898 EV/BARREL- Actual 2023 Average Production: $9,692 EV/BARREL-USD FY 2024 Guidance: $10,176 Decommissioning Provision FY 2023 Results (GBP): £62,411,000 Decommissioning Provision FY 2023 Results (USD): $77,389,640 EV/BARREL-USD FY 2024 Guidance with Decommissioning: $48,871 IGAS 2P Reserves Year End 2023 Boe: 17,470,000 EV/2P $1.17 |
Posted at 09/4/2024 14:44 by kubera369 Star Energy (STAR LN) 10.3p, Market Cap £13m: Refinancing completes Star announced a new five-year 25m secured facility with infrastructure finance specialist Kommunalkredit Austria, which commences repayments in 2025 and matures at YE28. The facility includes a $7m tranche to repay the reserves-based lending (RBL) facility from BMO that was due at the end of 2Q24, which has a fixed interest rate of 9.384% and is repayable on 30 June 2025. A second tranche to provide funding for Star's geothermal development activities carries an interest rate of Euribor + 6% and has a five-year term, with repayments scheduled to commence from 31 December 2025. Securing a new financing facility for Star's business is an important milestone, which allows the Company to redeploy cashflows from the existing oil and gas business to optimise near-term conventional production and deliver on its transition strategy; namely developing and monetising a geothermal business in both the UK and Croatia. We think there is plenty of room for upside from investment to maximise recovery from the existing 2.1kboe/d UK production base and developing near term incremental development opportunities to utilise the £263m tax loss, which we expect to hear more about at the FY23 results presentation later this month. However, Star's share price continues to languish due in part to a strategic decision to pivot towards the growth of the geothermal business in the UK and in Croatia. Star has early mover advantage and expects its portfolio transition to geothermal energy to be a key medium-term growth vector for the Company, but we think that the market is sitting on the fence ahead of greater visibility on the opportunity set and commerciality. |
Posted at 26/3/2024 07:59 by dannymaz89 operational and market performance mismatch Canaccord Genuity view Star's recent updates highlight the progress made across the company's diverse UK onshore oil and gas production base and in the Croatian geothermal business. Over the past year, the company has turned around a declining UK production profile for the first time in many years, through a combination of greater focus on incremental low-cost enhancements to well performance and significantly improved surface facilities efficiencies and uptime. That has clearly borne fruit over the past 12+ months, and we think there is plenty of scope to maintain that elevated performance at least over the next few years. That is important because while the company sees longer-term growth through its geothermal businesses, it is the UK conventional hydrocarbons that provide the backbone of cashflow in the nearer-term. We think the progress made by Star in the UK and in Croatia is substantial, and certainly not reflected in the recent market performance. We maintain our BUY rating, and though we trim our risked NPV10 target price to 65p (from 73p) to reflect the slow pace of progress (unrelated to Star) of the UK geothermal business, we think the company's valuation footing has improved significantly over the past year. Conventional production Productivity gains: FY23 company expected c.2.09 kboed, better than early year c.2.0 kboed guidance. That rate implies higher production in H2 than H1 (2.07 kboed), itself a positive indicator. As a result, 2023 output is set to be the best since 2019. The signs are that a rolling programme of continued smaller scale investment - workovers and infrastructure optimisation - can be expected to deliver similar stable production levels for several years. New projects would provide further upside, but those probably require additional financing. Costs: Star has also done a good job on operating cost control, which continue around $40/boe despite the inflationary environment. Geothermal projects Croatia: Star only entered the country in August through the acquisition of 51% of local company A14 Energy which holds the Ernestinovo geothermal exploration licence. Since then the company has been awarded two further licences, prepared a wellsite for testing of Ernestinovo-3, and mobilised a rig to test flow rates (results expected early 2024). A successful outcome can be expected to lead to application for a long-term exploitation licence. UK: That progress contrasts starkly with activity levels in the UK, where a combination of factors - permitting, lack of government funding distribution, bureaucracy - have all conspired to hamper any real progress. Valuation underpinning The benefits of the renewed vigour applied to the UK oil and gas assets - both improved productivity and cost control - are critical to the underlying value of Star. Given the unsurprisingly relatively high operating costs of small fields onshore UK and the significant element of fixed costs, squeezing the most from the assets is critical to value. Star has done an excellent job recently. We recognise the high degree of valuation gearing to oil price changes, but our modelling suggests that the current market value can be supported by an LT oil price (from 2024) of close to $60/bbl, assigning no value to further larger UK oil and gas project development nor the UK or Croatian geothermal businesses. In our view, the market discount to an improving story with solid valuation underpinnings is too stretched. |
Posted at 20/12/2023 14:49 by stark industries New appointment today says it all imo......Star Energy Group PLC Appointment of Non-executive Director ( 20/12/2023 7:00am Wednesday 20 December 2023 RNS Number : 3688X Star Energy Group PLC 20 December 2023 20 December 2023 Star Energy Group plc (AIM: STAR) ("Star Energy" or the "Company") Board Change - Appointment of Non-executive Director Star Energy is pleased to announce that Anthony White MBE has accepted an invitation to join the Board as an Independent Non-executive Director with immediate effect. Anthony will be a member of the Audit Committee. Anthony has over thirty five years experience in international power markets and low carbon economy from capital markets analytical and industry strategy roles. He has been involved in developing economic and financial frameworks that have reformed the energy sector and opened up whole new areas to private sector investment. This was particularly in relation to the conventional power sector reform but also for renewables. He played an important part in helping formulate government policy to make clean energy projects investable. He has also been an energy industry regulator. His key responsibilities included being lead analyst for the top ranked energy team at investment bank, James Capel, who advised the UK Government on privatising the power sector. As Head of Citigroup's pan-European power team he also oversaw market liberalisation in other European markets. He was also National Grid's Group Head of Strategy in the 1990's. In 2003, Anthony was one of the founders of Climate Change Capital, a specialist low carbon advisory and asset management business. He has been heavily involved in UK energy and power market policy participating in numerous UK Government advisory bodies including the Energy Advisory Panel, Commission on Environmental Markets and Economic Reform, Energy Networks Strategy Group and the Nuclear Liability Financing Assurance Board. He was awarded an MBE in 2004 for services to UK energy policy. Anthony is currently a Non-executive Board Director of Green Energy Options and the Triple Point Energy Transition Trust. Commenting Chris Hopkinson, CEO said: "I am incredibly excited to welcome Anthony to the Board. He is a highly respected figure in the energy industry and has been involved in almost all aspects ranging from renewable energy research through to strategy, finance, international development and policy. His expertise will further strengthen the senior team as we seek to grow our geothermal business." Anthony White added: "I am delighted to be given this opportunity to help Star Energy as it navigates the transition to Net Zero." Additional information: Anthony Alfred Leigh White, age 70, holds no shares in Star Energy Group plc. He has been a director or partner of the following companies or partnerships during the five years preceding the date of the announcement: Current Directorships Past Directorships (last five years) Bialik-Langworth Limited The Ecofin Research Foundation Triple Point Energy Transition PLC Green Energy Options Ltd BW Energy Limited Pickfords Wharf RTM Company Limited |
Posted at 20/12/2023 10:56 by kubera369 Today 07:00RNS Number : 3688XStar Energy Group PLC20 December 2023 20 December 2023 Star Energy Group plc (AIM: STAR)("Star Energy" or the "Company") Board Change - Appointment of Non-executive Director Star Energy is pleased to announce that Anthony White MBE has accepted an invitation to join the Board as an Independent Non-executive Director with immediate effect. Anthony will be a member of the Audit Committee.Anthony has over thirty five years experience in international power markets and low carbon economy from capital markets analytical and industry strategy roles. He has been involved in developing economic and financial frameworks that have reformed the energy sector and opened up whole new areas to private sector investment. This was particularly in relation to the conventional power sector reform but also for renewables. He played an important part in helping formulate government policy to make clean energy projects investable. He has also been an energy industry regulator. His key responsibilities included being lead analyst for the top ranked energy team at investment bank, James Capel, who advised the UK Government on privatising the power sector. As Head of Citigroup's pan-European power team he also oversaw market liberalisation in other European markets. He was also National Grid's Group Head of Strategy in the 1990's. In 2003, Anthony was one of the founders of Climate Change Capital, a specialist low carbon advisory and asset management business. He has been heavily involved in UK energy and power market policy participating in numerous UK Government advisory bodies including the Energy Advisory Panel, Commission on Environmental Markets and Economic Reform, Energy Networks Strategy Group and the Nuclear Liability Financing Assurance Board. He was awarded an MBE in 2004 for services to UK energy policy. Anthony is currently a Non-executive Board Director of Green Energy Options and the Triple Point Energy Transition Trust. Commenting Chris Hopkinson, CEO said:"I am incredibly excited to welcome Anthony to the Board. He is a highly respected figure in the energy industry and has been involved in almost all aspects ranging from renewable energy research through to strategy, finance, international development and policy. His expertise will further strengthen the senior team as we seek to grow our geothermal business."Anthony White added:"I am delighted to be given this opportunity to help Star Energy as it navigates the transition to Net Zero." Additiona |
Posted at 05/12/2023 13:29 by ashkv A new 52 week low yesterday.... Brent is at 3-4 month lows but the share price is ridiculous.An update is warranted, along with a suspension of investment into Geothermal projects which the market is ascribing negative value too, SHARE BUYBACKS OR A TENDER OFFER FOR SANDGROVE'S SHARES SHOULD BE UNDERTAKEN. ABSOLUTE SHAMBLES BY MANAGEMENT - KICK THE MUPPETS OUT!! STAR Share Price: 7.51p Brent: $77.00 STAR Current Share Price vs 52 Week low of 7.51p on 4 Dec 23: 0.00% STAR Current Share Price vs 52 Week High of 25p on 12 Jan 23: -69.96% Total Voting Rights: 128,345,189 Market Cap GBP: £9,638,724 GBPUSD: 1.260 Market Cap USD: $12,144,792 Net Debt-GBP (30 June 23): £4,000,000 Net Debt-USD (30 June 23): $5,040,000 Enterprise Value (USD): $17,184,792 STAR Actual Production Average Up to 30 June 23/Half Year 23 (Boe/d) 2,071 STAR Production Guidance (Boe/d) 2,000 STAR/IGAS Actual Average Production 2022: 1,898 EV/BARREL- Actual Avg Production Up to 30 June 23/HY 23 (Boe/d) $8,298 EV/BARREL-USD FY 2023 Guidance: $8,592 Decommissioning Provision HY 2023 Results (GBP): £63,991,000 Decommissioning Provision HY 2023 Results (USD): $80,628,660 EV/BARREL-USD FY 2023 Guidance with Decommissioning: $48,907 IGAS 2P Reserves Year End 2022 Boe ( 17,040,000 EV/2P $1.01 |
Posted at 27/11/2023 10:17 by ashkv New low for STAR today - surely given the market cap / enterprise value management should institute share buybacks / or at least a tender offer for 10% holder that has been selling down in trickles... rather than divert cash to long gestation geothermal projects that the market appears to value at Negative NPV!!!!EV/2P at 1.10p with a 8.51p share price... unreal!!! STAR Share Price: 8.51p Brent: $79.43 STAR Current Share Price vs 52 Week low of 8.57p on 27 Nov 23: 0.00% STAR Current Share Price vs 52 Week High of 25p on 12 Jan 23: -65.96% Total Voting Rights: 128,092,404 Market Cap GBP: £10,900,664 GBPUSD: 1.26 Market Cap USD: $13,734,836 Net Debt-GBP (30 June 23): £4,000,000 Net Debt-USD (31 July 23): $5,040,000 Enterprise Value (USD): $18,774,836 STAR Actual Production Average Up to 30 June 23/Half Year 23 (Boe/d) 2,071 STAR Production Guidance (Boe/d) 2,000 STAR/IGAS Actual Average Production 2022: 1,898 EV/BARREL- Actual Avg Production Up to 30 June 23/HY 23 (Boe/d) $9,066 EV/BARREL-USD FY 2023 Guidance: $9,387 Decommissioning Provision HY 2023 Results (GBP): £63,991,000 Decommissioning Provision HY 2023 Results (USD): $80,628,660 EV/BARREL-USD FY 2023 Guidance with Decommissioning: $49,702 IGAS 2P Reserves Year End 2022 Boe ( 17,040,000 EV/2P $1.10 |
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