It's like a self funding start up, a long time until any share holder return. If any. |
Pretty much a steady as it goes update - holding back on geo until clarity - and I bet they would sell the entire O and G portfolio off the back of the right bid, based on this comment in the update
"We have committed to transitioning, over time, to a geothermal business, generating geothermal heat in the UK and power in Croatia. "
whilst they don't specify a timeframe, the writing is on the wall - transitioning to geothermal business, means selling the o and g assets. |
Hopefully an offer incoming - crazy low valuation given assets!!!
Trading Update 25 July 24
STAR Share Price-> 7.28p
Brent-> $81.05
STAR Current Share Price vs 52 Week low of 7p on 1 Jul 24-> 4.00%
STAR Current Share Price vs 52 Week High of 14.98p on 4 Jul 23-> -51.40%
Total Voting Rights-> 129,306,506
Market Cap GBP-> £9,413,514
GBPUSD-> 1.290
Market Cap USD-> $12,143,433
Net Debt-GBP (30 June 24) -> £1,900,000
Net Debt-USD (30 June 24) -> $2,451,000
Enterprise Value (USD)-> $14,594,433
STAR Actual Production Average First Half 2024 (Boe/d)-> 2,012
STAR 2024 Production Guidance (Boe/d)-> 2,000
STAR/IGAS Actual Average Production 2022-> 1,898
EV/BARREL- Actual H1 2024 Average Production-> $7,254
EV/BARREL-USD FY 2024 Guidance-> $7,297
Decommissioning Provision FY 2023 Results (GBP)-> £62,411,000
Decommissioning Provision FY 2023 Results (USD)-> $80,510,190
EV/BARREL-USD FY 2024 Guidance with Decommissioning-> $47,552
IGAS 2P Reserves Year End 2023 Boe-> 17,470,000
EV/2P-> $0.84 |
LIFESTYLE COMPANY. |
 Disappointing update - STAR is HUGELY undervalued but was hoping for a shift to net cash!!!
New CEO is coming across languid/lethargic and not impressing!!!
"FORENSIC AUDIT" - AND COST SAVINGS FROM 2025 AND THAT TOO A MEASLY GBP 1.5MN / 5% of Revenue!!! SACK THE "CHIEF OF STAFF" TO BEGING WITH!!!
New CEO Rusty Clark appears to be a clerk type empty suit with no vision or vim / vigor!!!
HOPEFULLY WE GET A DECENT OFFER AND THIS CLUELESS MANAGEMENT AND BOARD ARE PERMANENTLY RETIRED!!!
25 July 2024
Star Energy Group plc (AIM: Star) ("Star Energy" or "the Company")
Trading Update
Star Energy is pleased to provide the following trading update for the six month period to 30 June 2024. The figures have not been audited and are subject to change:
Key highlights:
· Net production average boepd of 2,012 for six months to 30 June 2024; with production on track to achieve our full year forecast of c. 2,000 boepd
· Forensic audit of G&A is underway, with a target to achieve savings of c.£1.5 million per annum that will take effect from 2025
· Cash at 30 June 2024 of £4.2 million and net debt of £1.9 million
· Progress being made on analysis of the technical data from all three secured licences in Croatia to rank the optimal sequencing of their commercial development
· Approvals received for the acquisition of magnetotelluric data across the Sjece and Pcelic geothermal licence blocks in Croatia. Data acquisition will commence imminently
· Seismic data acquisition and analysis for Salisbury hospital project to commence in Q3
Commenting, Ross Glover, Star Energy CEO said:
"My focus since becoming CEO has been twofold: to identify the best ways to optimise our oil and gas business in order to make it as capital efficient as possible; and, by delivering on this goal, generate cashflow that will enable us to build our geothermal business further, having refined and high-graded the opportunities it currently holds. There is much to be done to achieve these goals, but I am pleased to report that we are making progress.
Production remains robust as we focus on quick returning optimisation projects to yield incremental production and, in the longer term, reduce operational expenditure. The oil and gas business for now remains the driver of the Group cashflow and capitalising on near term production opportunities will be important for this.
We have committed to transitioning, over time, to a geothermal business, generating geothermal heat in the UK and power in Croatia. Cashflows from our oil and gas business to provide development funding are key to this transition, as are the skills of our workforce. We will, however, be rationing our capital allocation in this area until we have clarity on government support mechanisms in the UK and have force ranked our Croatian project opportunities.
The new UK Government have a clear mandate to build out clean energy and tackle climate change. The King's Speech set out the government's commitment to a clean energy transition, which aligns with our energy transition strategy. We are heartened by the positive moves to drive forward renewable energy deployment through the establishment of GB Energy and streamlining planning processes. We look forward to continuing positive engagement with this Government as we continue to deliver indigenous oil and gas whilst developing low carbon, geothermal heat for a net zero future.
I look forward to updating the market further and in more detail at our interim results in September." |
firestorm/gorgon brown - complete nonsense posts, provide some justification why a company with significant assets and making a profit would delist at sub 1p? Utter garbage. |
My price is 0.911p for delisting.
Regards,
F911
RMC |
So why do they not sell the O&G and buy GEO?
Yet, they want to use the revenue to pay for the loan and lifestyle company.
Regards,
F911
RMC |
dated today
Stoke-on-Trent has been in line to get a deep geothermal well for a decade, after government funding was secured for a district heat network (DHN) in 2014.
The city council was awarded £19.75m of government funding for it, as part of Stoke-on-Trent and Staffordshire's city deal.
AND
The first phase of Stoke-on-Trent's DHN has seen 4km of underground pipes installed in Stoke and Shelton, but it has yet to become operational.
While the installation of the pipes was funded by money from the city deal, the geothermal heat plant was expected to be funded privately.
Star Energy, the company behind the project, is currently applying for funding. |
Shares appear to have bottomed!!
Hopefully I will get an opportunity to reduce my average at no brainer levels :)
F911 and crew - please oblige!! |
This is heading sub 1p, once they delist it.
Only option now is delisting.
Could be another RBL in about 18 months. |
Miliband has issued an immediate ban on new drilling for oil and gas in the North Sea, overruling his own officials in the process. His grandstanding move will delight party activists and should horrify the rest of us. |
Compare market cap, oil production and decommissioning costs of Star Energy vs Europa Oil & Gas(EOG) |
31 December 2023 Net Debt (£1.6m)
31 December 2022 Net Debt (£6.1m)
31 December 2021 Net Debt (£12.2m) |
Funny, the paid promoter scammer does not explain why they sold assets rather than dealing with loan sharks.
He also previously he was updated about buybacks and dividends. You all see a pattern in this scammer.
So why did you not sell the assets before taking the loan? Or do they sell their assets and then take a loan? How do they repay the loan?
gorgon brown5 Jul '24 - 20:09 - 257 of 257
Why are they going to sell assets? Are the assets not bringing money to pay loans? Bonuses and directors' salaries?
Let me guess: the promoter is saying the sale of assets will go to shareholders by dividend.
So why did they take a loan, then?
ashkv5 Jul '24 - 14:20 - 248 of 257
Hopefully some sizeable Director Buys / Buyback announcements / Sale of O&G assets / Labour administration announcement re Geothermal etc in the near term!! |
Exactly, it's a lifestyle company aka Scam in other words.
The scammer is saying they will sell the assets. So how will they pay the loan?
Why take the big mortgage first, then at 9.6% APR?
They need to pay that $7m next year, the interest. This is coming from the revenue.
The scammer then posted that he was updated by buybacks and then dividends. |
REPOST GIVEN TROLLS EXPOUNDING FALSITIES [Trolls F911 (Review post history) and Gorgon Brown (Inactive since 2020 and now suddenly active relentlessly trashing STAR)]
24 Apr 24
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"
ashkv9 Jul '24 - 18:30 - 263 of 273 Edit
0 0 0
*Oil price assumption of c.$72/bbl for 5 years, then inflated at 2-3% p.a. from 2028 to 2050
· 1P NPV10 of $143 million(2021: $144 million)
· 2P NPV10 of $235 million (2021: $215 million) |
REPOST GIVEN TROLLS EXPOUNDING FALSITIES [Trolls F911 (Review post history) and Gorgon Brown (Inactive since 2020 and now suddenly active relentlessly trashing STAR)]
24 Apr 24
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" |
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