Star Energy Share Discussion Threads

[davespud] 03/7/2025 14:25:14

Star is in a great position right now.

[davespud] 03/7/2025 14:20:18

Good time for markets ,takeovers and mergers .

[ashkv] 25/6/2025 15:34:43

STAR Energy is a cheap cheap firm in regards to share price - however, management has the wrong strategy!

STAR should be a pureplay in either Geothermal or O&G0 -> and best scenario is a takeover of the entire firm!!!

[ashkv] 25/6/2025 15:30:06

escription:

Star Energy Group PLC’s (AIM:STAR) 2025 AGM trading update outlines a disciplined strategy focused on strengthening core profitability while accelerating growth in geothermal energy. The company has significantly reduced general and administrative (G&A) costs from over £7 million to a forecasted £4.5 million annually, establishing a leaner, more resilient cost base. Oil and gas production remains stable at 2,000 barrels per day, supported by an effective hedging strategy and net debt reduced to £1.9 million. The Singleton gas-to-wire project is progressing towards a Q4 2025 start, representing a key value-adding initiative. Star’s geothermal business is gaining traction in both the UK and Croatia, where strong government support, rising demand for decarbonised heat, and strategic partnerships with Bring Energy and Veolia are driving a growing project pipeline. With first-mover advantage in the UK and a robust licence position in Croatia’s geothermal hotspot, Star is targeting self-funded development through grants, farm-downs, and disciplined capital allocation. Despite market headwinds and share price pressure, management remains confident that its cash-generative oil and gas base, combined with scalable geothermal opportunities and a focused execution strategy, positions the business to deliver sustainable long-term shareholder value.

[svenice7] 21/6/2025 10:24:31

I'm holding onto this one.If things get out of hand geopolitically, this could easily run to 1 pound.Just sit and wait and forget about market makers. Put this in your coffee jar.....

[kibes] 19/6/2025 14:34:00

ashkv - I completely agree. The only hope is the price is sometimes run up by market makers to offload a line of stock at higher prices. The next time that happens I am going to be out of here. It's a pity because the UK oil field assets producing 2000 bbls/day ought to be a decent income.

[bsg] 19/6/2025 14:01:35

ashkv, they're happy to run it as a lifestyle company. With some interesting projects to keep them interested. It will not change. IMO.

[ashkv] 19/6/2025 13:21:39

STAR Share Price-> 6.80p
Brent-> $77.80
STAR Current Share Price vs 52 Week low of 6p on 22 Apr 25 -> 13.33%
STAR Current Share Price vs 52 Week High of 9.76p on 13 Nov 24-> 43.53%
Total Voting Rights -> 130,620,077
Market Cap (GBP)-> £8,882,165
GBPUSD-> 1.345
Market Cap (USD) -> $11,946,512
Cash (GBP) 31 May 25 -> £10,500,000
Debt (GBP) 31 May 25 [Drawn Loan Facility] -> £12,400,000
Net Debt (GBP) (31 May 25) -> £1,900,000
Net Debt (USD) (31 May 25) -> $2,555,500
Enterprise Value (USD)-> $14,502,012
STAR Actual Production Until 18 June 2025 (Boe/d) -> 2,000
STAR 2025 Production Guidance (Boe/d)-> 2,000
STAR Actual Average Production 2024 (Boe/d)-> 1,989
STAR Actual Average Production 2023 (Boe/d)-> 2,100
STAR/IGAS Actual Average Production 2022 (Boe/d)-> 1,898
EV/BARREL(USD) 2025 Production Guidance -> $7,251
EV/BARREL(USD) 2024 Actual Average Production (Boe/d)-> $7,291
Decommissioning Provision FY 2024 Results (GBP)-> £60,890,000
Decommissioning Provision FY 2024 Results (USD)-> $81,897,050
EV/BARREL-USD FY 2024 Guidance with Decommissioning-> $48,466
STAR 2P Reserves Year End 2024 Boe-> 15,470,000
EV/2P-> $0.94

[bsg] 19/6/2025 11:51:15

Their costs are $40 per barrel, I think.

[kibes] 19/6/2025 11:19:50

2000 bbls/day at $70/bbl is $140,000/day or $51 million/year . This money is just evaporating into thin air, it certainly isn't going snywhere near shareholders pockets.

[bsg] 19/6/2025 08:45:36

That's it, where does all the money go, my bet is salaries and pie in the sky projects.

[kibes] 19/6/2025 07:57:37

Typical waffle in today's AGM statement:

'Croatia geothermal portfolio is being matured through the establishment of the exploitation field within the Ernestinovo licence and through technical de-risking of the Sječe and Pčelić licences.' - So what? Where are the numbers? How much would it all cost, what is the projected ROR and NPV? Who gave them the authority to spend any money on this wild goose chase?

[sea7] 19/6/2025 07:57:12

Cash as at 31st May 2025 £10.5m and 2000boepd production - current mcap £9.08m

[bsg] 16/5/2025 07:54:01

Seems to give nice returns to the management!

[bsg] 09/5/2025 09:14:59

Will this ever give any returns to shareholders?

[kibes] 06/5/2025 08:13:07

A partnership with Veolia? If only I could sell my remaining shares for a reasonable price....

[ashkv] 29/4/2025 09:28:31

STAR Share Price-> 7.30p
Brent-> $65.00
STAR Current Share Price vs 52 Week low of 6p on 22 Apr 25 -> 21.67%
STAR Current Share Price vs 52 Week High of 11.8p on 3 May 24-> 61.64%
Total Voting Rights -> 130,481,409
Market Cap (GBP)-> £9,525,143
GBPUSD-> 1.340
Market Cap (USD) -> $12,763,691
Cash (GBP) 31 Dec 24 [Excluding Restricted Cash GBP4.282mn for Croatian Geothermal and Including GBP6.3 million received post Year End from Land Sale] -> £11,000,000
Debt (GBP) 31 Dec 24 [Drawn Loan Facility] -> £12,200,000
Net Debt (GBP) (29 Apr 25) -> £1,200,000
Net Debt (USD) (29 Apr 25) -> $1,608,000
Enterprise Value (USD)-> $14,371,691
STAR 2025 Production Guidance (Boe/d)-> 2,000
STAR Actual Average Production 2024 (Boe/d)-> 1,989
STAR Actual Average Production 2023 (Boe/d)-> 2,100
STAR/IGAS Actual Average Production 2022 (Boe/d)-> 1,898
EV/BARREL(USD) 2025 Production Guidance -> $7,186
EV/BARREL(USD) 2024 Actual Average Production (Boe/d)-> $7,226
Decommissioning Provision FY 2024 Results (GBP)-> £60,890,000
Decommissioning Provision FY 2024 Results (USD)-> $81,592,600
EV/BARREL-USD FY 2024 Guidance with Decommissioning-> $48,248
IGAS 2P Reserves Year End 2024 Boe-> 15,470,000
EV/2P-> $0.93
Ring fence tax losses of 30 June 2024-> £237,000,000

[ashkv] 29/4/2025 09:26:44

STAR Share Price-> 7.30p
Brent-> $65.00
STAR Current Share Price vs 52 Week low of 6p on 22 Apr 25 -> 21.67%
STAR Current Share Price vs 52 Week High of 11.8p on 3 May 24-> 61.64%
Total Voting Rights -> 130,481,409
Market Cap (GBP)-> £9,525,143
GBPUSD-> 1.340
Market Cap (USD) -> $12,763,691
Cash (GBP) 31 Dec 24 [Excluding Restricted Cash GBP4.282mn for Croatian Geothermal and Including GBP6.3 million received post Year End from Land Sale] -> £11,000,000
Debt (GBP) 31 Dec 24 [Drawn Loan Facility] -> £12,200,000
Net Debt (GBP) (29 Apr 25) -> £1,200,000
Net Debt (USD) (29 Apr 25) -> $1,608,000
Enterprise Value (USD)-> $14,371,691
STAR 2025 Production Guidance (Boe/d)-> 2,000
STAR Actual Average Production 2024 (Boe/d)-> 1,989
STAR Actual Average Production 2023 (Boe/d)-> 2,100
STAR/IGAS Actual Average Production 2022 (Boe/d)-> 1,898
EV/BARREL(USD) 2025 Production Guidance -> $7,186
EV/BARREL(USD) 2024 Actual Average Production (Boe/d)-> $7,226
Decommissioning Provision FY 2024 Results (GBP)-> £60,890,000
Decommissioning Provision FY 2024 Results (USD)-> $81,592,600
EV/BARREL-USD FY 2024 Guidance with Decommissioning-> $48,248
IGAS 2P Reserves Year End 2024 Boe-> 15,470,000
EV/2P-> $0.93
Ring fence tax losses of 30 June 2024-> £237,000,000

[ashkv] 29/4/2025 08:57:09

Although marginal good to see decommissioning provisions decreasing...

[ashkv] 29/4/2025 08:52:21

Corporate & Financial Highlights

· Successfully secured a €25 million financing facility provided by Kommunalkredit Austria AG which, while primarily supporting the development of our geothermal energy sector, also enables continued investment in the oil and gas business utilising existing cash flows

· Cash at 31 December 2024 was £4.7 million, excluding restricted cash, and Star Energy had drawn £12.2 million under its loan facility. Restricted cash was £4.3 million and relates to the cash backing of performance bonds for licence commitments of the Company's Croatian subsidiary relating to the Sječe and Pčelić exploration licences

· Increased our stake in our Croatian subsidiary post year end, from 51% to 71%, allowing us to control the development of this initiative until appropriate value inflection points are achieved

· Exchanged contracts for the sale of non-core land for £6.3 million in November 2024 with proceeds received in April 2025

· Hedging in place for 400bbl/d for H1 2025 and H2 2025 with swaps at an average price of $79.8/bbl and $73.0/bbl, respectively

· Energy Profits Levy of £1.0 million paid in February 2025 based on the taxable profits for the year ended 31 December 2023. The Company estimates a charge of £2.1 million for 2024

Operational Highlights

· Net production, in line with guidance averaging 1,989 boepd in 2024 (2023: 2,100), with uptime across the portfolio remaining strong over the year

· Continued to optimise oil production from our existing wells through selective investment in short cycle developments which deliver quick payback

· DeGolyer & MacNaughton updated CPR values 2P NPV10 at $188 million (2023: $235 million). The decrease in reserves value is due to a development project moving out of the reserves category due to project prioritisation

· Work has begun on the Singleton gas-to-wire project which will deliver c.74 boe/d, utilising gas which is currently being flared. The project, which satisfies the regulatory requirements for the facility, now has planning consent and a secured grid connection. Procurement for long lead items is underway, with a first export of electricity from the site expected late 2025

· Ernestinovo licence commitments have been fulfilled and the acquisition of magnetotelluric data across the Sjece and Pcelic geothermal licence blocks in Croatia is complete, with the incorporation of this data into the geological models underway. Work is ongoing on the technical analysis to rank the optimal sequencing of their commercial development

· Seismic data was acquired and analysed for the Salisbury NHS Foundation Trust project, and pre-applications have been submitted for planning and permitting for both Salisbury and the Wythenshawe Hospital projects

Outlook

· We anticipate net production of c.2,000 boepd and operating costs of c.$40/boe (assuming an average exchange rate of £1:$1.27) in 2025

· 2025 forecast capital expenditure is c.£10.0 million. This includes £5.8 million on the Singleton gas-to-wire project which is forecast to come online in late 2025 with production of 74 boe/d. Star Energy also plans to invest £1.7 million on quick returning incremental projects and the balance on regulatory improvements, site resilience and projects to reduce operating costs going forward

· Holybourne sale proceeds of £6.3 million will be used to repay Facility A of our Kommunalkredit loan which is due on 30 June 2025

· Good progress on G&A costs reduction expected to generate savings of c.£1.5 million in 2025

· Data analysis continuing to further derisk our Croatian portfolio

· Seeking strategic partnerships in the UK to advance our pipeline

[ashkv] 29/4/2025 08:51:05

"I am very pleased to be presenting my first annual results as Chief Executive Officer of Star Energy. Our strategic aim is to be a profitable energy business generating strong cashflows from our oil and gas assets whilst progressing growth opportunities in the geothermal sector. By focusing on maximising profitability from our oil and gas activities, we ensure long-term sustainability and can successfully navigate a volatile oil price environment, which is increasingly important in today's uncertain geopolitical climate. We have maintained strong production across our fields and made good progress in reducing costs, with substantial general and administrative savings projected for 2025.



Investing in our producing assets provides a robust financial foundation for future growth, and I am confident that geothermal energy presents a significant growth opportunity in both the UK and Europe. Successful project development will create material incremental asset value and can deliver strong returns for shareholders. We recognise that it will take time to bring our geothermal projects to production and are committed to rigorously assessing project commerciality in order to allocate capital based on strict criteria for achievement of milestones and creation of value. This approach will enable us to build a portfolio of profitable projects over time."





Financial Performance



2024 £m

Revenues 43.7

Net debt* 7.5

Adjusted EBITDA* 11.1

Operating cash flow before working capital movements 8.8

Loss after tax (12.6)

Cash and cash equivalents (excluding restricted cash) 4.7

Underlying operating profit* 5.9


* Adjusted EBITDA, Net Debt (borrowings less cash and cash equivalents excluding capitalised fees) and Underlying Operating Profit are used by the Group, alongside IFRS measures for both internal performance analysis and to help shareholders, lenders and other users of the Annual Report to better understand the Group's performance in the period in comparison to previous periods and to industry peers