Star Energy Share Discussion Threads

[sea7] 18/4/2024 12:46

Canaccord Genuity Group reaffirmed their buy rating on shares of Star Energy Group (LON:STAR – Free Report) in a report released on Tuesday, MarketBeat reports. Canaccord Genuity Group currently has a GBX 55 ($0.70) price objective on the stock.

[philgyuk] 14/4/2024 17:58

Interesting article Jack. So, setting up geothermal by 'fracking' deep rock can cause earthquakes but experts can avoid using it in vulnerable areas. If that is so, why on earth isn't the UK 'fracking' for gas avoiding vulnerable areas?

[jack007] 14/4/2024 11:18

https://arstechnica.com/science/2024/04/how-new-tech-is-making-geothermal-energy-a-more-versatile-power-source/

[sea7] 12/4/2024 13:05

agreed kubera

[kubera369] 12/4/2024 13:05

it should be 50p as a min right now with what's in the bag

[sea7] 12/4/2024 13:02

yep smacker - they are busy, even if we don't see it in many RNS's

[smackeraim] 12/4/2024 13:01

They’re also looking into to hydrogen storage with any depleted assets.



EMstor, a consortium led by Cadent, the UK’s largest gas distribution network, and partnered with Star Energy Group, British Geological Survey (BGS), Net Zero Strategy and the University of Edinburgh, has been awarded Discovery funding by OFGEM/Innovate UK's Strategic Innovation Fund (SIF).

The funding will be used to undertake an innovative new study to evaluate the geological storage potential in the East Midlands region that is set to be served by Cadent’s future 100 per cent hydrogen pipeline.

[sea7] 12/4/2024 12:58

good point hairball

[hairballradical] 12/4/2024 12:56

Sea7,

let alone the fracking licensed areas (biggest in UK) which could be converted for Geothermal use

[sea7] 12/4/2024 12:53

last trading update said..

The Company remains on track to deliver its full year production target, expected to be c. 2,090 boepd. Uptime across the portfolio has remained strong with good results from workovers at Singleton and a rolling programme of well optimisation and stimulation that has yielded additional production equal to c. 50 boepd over this year.

Cash balances as at 30 November 2023 were £2.9 million

[sea7] 12/4/2024 12:49

just the oil assets that push out over 2k boepd are worth at least 40p a share if sold.
IMV

This has Ring fence tax losses of £259 million and 1P NPV10 of $144 million(2021: $139 million): 2P NPV10 of $215 million (2021: $190 million)

[kibes] 12/4/2024 12:23

Most small oil companies struggle to borrow even a million pounds. The 25 million euro facility is an astonishing achievement and a huge vote of confidence. I'm not surprised the price is going up at last and it has a long way further to go before it is fairly valued.

[sea7] 12/4/2024 11:47

yep good luck

[kubera369] 12/4/2024 11:46

Loads of catch up to do !!!This was battered to crazy levels due to the institutional selling and now they are out and with the upcoming news to come in - this is only going one way now.The only way is UP baby !!! Good luck

[sea7] 12/4/2024 11:43

yep star is unhedged on its oil so capturing all the upside. They have obtained financing to retire the rest of the legacy debt and provide for drilling costs in the geothermal space. This leaves the cashflow from the oil to ensure it can be expanded and optimised.

The company is now in the best place it has been for years. This should be a rerate we are seeing now.

[smackeraim] 12/4/2024 11:34

Breaking into 11's with brent oil flying

[sea7] 10/4/2024 10:53

I note in the comments on the below page, regarding the funding...(what brings sericas CFO to stars linkedin page?)



Martin Copeland

CFO at Serica Energy

14h

Huge congratulations guys! Really excited for you

[kubera369] 09/4/2024 14:44

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.

[kubera369] 09/4/2024 11:24

New broker out today with min target share price of 55p That's minimum !!!A lovely opportunity here to buy in so cheap before the uplift to sensible levels againResults due this month and the share price has already broken out of its downward trend and will keep on moving in positive territory.Institutional sellers are definitely out

[bsg] 09/4/2024 11:10

So it sounds like they're going to spend it.

[kubera369] 09/4/2024 10:58

CEO has just replied on X = It is an important milestone it allows Co use cashflows from existing o&g business to optimise near-term conventional production (with quick pay-backs) & deliver our transition strategy; namely develop & monetising our geothermal business in Croatia & UK

[kubera369] 09/4/2024 10:08

It's only a back up for funding only if required Bodes well

[kubera369] 09/4/2024 10:01

So we have 18m facility, then 10m there about per year out of cashflow available Till 2028 so £58m kitty the exploit geothermal

[kubera369] 09/4/2024 09:53

Steady morning, unexpected but good to have big bank backing if and when neededNo dilution ever needed !!!

[bsg] 09/4/2024 09:06

Why do they need the funding, I thought they were making enough with their oil production?