Star Energy Share Discussion Threads

[stark industries] 20/12/2023 14:44

2090 boepd day and valued at £9.6m.......
Cash in the bank of £2.9 million and a cap of £9.6m

33% of the cap in cash, over 2k boepd a day, net debt £2.6m and valued at sub £10m---wow!


Net Debt Reduction since 2022;

H2 2022 = £6.1 million

H1 2023 = £4.0 million

H2 2023 = £2.6 million

Debt coming down every trading update !!

Net production average;

H1 2022 = 1,865 boepd

H1 2023 = 2,071 boepd

H2 2023 = expected circa 2,090 boepd

Yielding increased flow every trading update

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;

H2 2022 = £3.1 million

H2 2023 = £2.9 million

Oh and Geothermal drill updates over Christmas / New Year ! Workover rig mobilised in Croatia licence.

Bring on the re-rate! BULLISH

[stark industries] 20/12/2023 14:20

The share price is not making any sense here as it should be a lot higher......If the seller is out which certainly looks like it....The share price will accrue institutional interest going forwards and mop up the slack shares available on the market......
Can we see this over £1.00 again ?
Well 50p would be a great start and is highly probable i'd say...... Lots of incoming news and drill results on the horizon coupled with the recent appointment makes STAR ENERGY one of my multi multi baggers for 2024

Stonking Buy at these levels imo.....


The operation is likely to continue for approximately one month, with results expected by late January 2024, on schedule with the planned work programme.

The proposed plant would connect into the Ernestinovo HOPS substation - a major substation with 400kV transmission lines to the national grid, Hungary, Serbia and Bosnia, and local distribution lines at 110 kV and 85kV - and sell electricity on either a market premium arrangement (CfD) or bilaterally.





Drill Rig Mobilised to Ernestinovo Licence, Croatia

Star Energy (AIM:STAR) is pleased to announce that a drill rig has been mobilised to a recently constructed well pad on its Ernestinovo Licence in Eastern Croatia, three months after the acquisition of its Croatian Geothermal interests. The rig will re-enter the Ernestinovo-3 well to test the geothermal potential of the fractured metamorphic pre-Cenozoic formation.

Crosco is conducting the well re-entry programme. They are a highly experienced Croatian based international drilling company and have conducted the successful re-entry of a number of wells in country.

The operation is likely to continue for approximately one month, with results expected by late January 2024, on schedule with the planned work programme.

Commenting, CEO Chris Hopkinson, said:

"We are excited to begin the well re-entry on Ernestinovo-3. The speed with which we have constructed a well pad and commenced this operation demonstrates both the expertise of our local partners and the efficiency of the Croatian regulators. The Ernestinovo licence has excellent data from three deep exploration wells drilled in the 1980s and would suggest high temperatures and flow rates are achievable from this well. Our UK and Croatian teams are working closely to ensure a successful operation."

The Ernestinovo Development Project

Based on preliminary heat reserves and well productivity estimates, the Company's internal assessment forecasts the potential for a first phase development of a 10 MW electricity generation plant utilising five to six wells producing and re-injecting geothermal brine.

The proposed plant would connect into the Ernestinovo HOPS substation - a major substation with 400kV transmission lines to the national grid, Hungary, Serbia and Bosnia, and local distribution lines at 110 kV and 85kV - and sell electricity on either a market premium arrangement (CfD) or bilaterally.

[kubera369] 20/12/2023 10:58

This is getting really interesting now as a Govt connection is joining the team.This can certainly go over £1.00 again as I really believe the share price is on its rise back up.Seller out News flowing in And more news expected this month Keep on adding

[kubera369] 20/12/2023 10:56

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."     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 DirectorshipsPast Directorships (last five years)Bialik-Langworth LimitedThe Ecofin Research FoundationTriple Point Energy Transition PLCGreen Energy Options LtdBW Energy LimitedPickfords Wharf RTM Company Limited 

[jack007] 19/12/2023 16:28

Just put the kiss of death on it and averaged down lol!

[kubera369] 19/12/2023 15:39

Clearly looks like institutional interest here as volume over 3 million compared to the paltry 350k and less during the past months

[kubera369] 19/12/2023 14:47

They have probably just sold their last lot looking at those tradesShould double and gap up as the days unfold

[kubera369] 19/12/2023 14:44

Looks like the persistent seller is now out and hopefully the share price will double from here and more the coming days and weeks ahead Good luck

[kubera369] 19/12/2023 14:42

Should double from here now easily

[kubera369] 19/12/2023 14:40

Seller out !!!This has been thrashed down due to the seller and the last big lumps say it allGood rise on the cards now as seller finished at last

[sea7] 19/12/2023 14:19

think sandgrove are still selling

[bsg] 19/12/2023 14:13

I think they may be taking too much Ketamine.

[ashkv] 19/12/2023 12:19

STAR calling for activist investors/website below that is seeking to oust the shady management at Reabold!!

[ashkv] 19/12/2023 12:16

One can dream :)



(Sharecast News) - Analysts at Canaccord Genuity lowered their target price on exploration and production company Star Energy from 73.0p to 65.0p on Monday but stood by their 'buy' rating on the stock following recent updates.
Canaccord Genuity said Star's recent updates highlighted the progress made across its "diverse UK onshore oil and gas production base" and in the Croatian geothermal business.

Over the past year, Canaccord said Star 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," said Canaccord.

The Canadian bank thinks the progress made by Star in the UK and in Croatia was "substantial", and certainly not reflected in its recent market performance. However, the analysts trimmed their risked NPV10 target price to reflect the slow pace of progress of the UK geothermal business but still think the company's valuation footing has "improved significantly" over the past year.

[barony] 18/12/2023 17:28

Think we are a wee bit off even the lower, 65p, target.

[barony] 18/12/2023 10:54

A terrific hire for Star! She adds greatly to our credibility as well as being a very capable source of advice.

[sea7] 14/12/2023 16:13

Cash in the bank of £2.9 million and a cap of £9.6m

33% of the cap in cash, over 2k boepd a day, net debt £2.6m and valued at sub £10m---wow!

[hairballradical] 14/12/2023 09:24

Everyone loving that update, 120 shares traded this morning already and its only 09:24!

We know its not the productivity of Star, which has been good, its the price of oil and the strategy of Star thats the problem.

[ashkv] 05/12/2023 13:29

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

[valuehurts] 02/12/2023 08:24

Shareholders are being robbed here. It's going to be taken over on the cheap. They can sell the oil and gas fields afterwards for many multiples of this share price.

[jack007] 01/12/2023 16:28

https://www.rolls-royce.com/media/our-stories/discover/2023/rr-unveils-space-micro-reactor-model-for-moon-exploration.aspx

[sea7] 01/12/2023 13:34

Not likely - the major shareholder, kerogen has invested in GEL engineering, which is a geothermal play as well.

kerogen investment strategy includes....The transition of the energy sector to lower carbon sources

kerogen will most likely, realistically want to see the O and G business sold off

kerogen says...CelerateX is the dedicated energy transition platform of Kerogen

celerate x website says..

We are told renewables cannot supply the entire energy mix due to intermittency.

One answer to that is geothermal, which is both a renewable and base load source of energy.

[valuehurts] 01/12/2023 12:18

There is something fishy going on with this one imo. Kerogen is seemingly happy that the management are willing to spend all this future cash flow on this ridiculous project. My guess is that this is going to taken over on the cheap. Once it's private I wouldn't be surprised if this geothermal project disappears.