Star Energy Share Discussion Threads

[bri15] 27/2/2024 16:17

Massive buying, hopefully someone wants to take the oil/gas business side of the company,if so the price will be much higher than present value.

[bad gateway] 20/2/2024 09:13

So it was a site of special scientific interest, home to rare wildlife that couldn't be allowed to be disturbed by fracking and was also a bombing range and test area for missiles?

Sounds like another case of British industry being stymied by lunatics bent on destroying the country imo.

[kubera369] 20/2/2024 09:05

This is why the shares have crashedI really hope this Green BS workouts otherwise its curtains here Maybe just focus on oil ?INDUSTRYMisson shale gas well decommissionedBY RUTH HAYHURST ON FEBRUARY 15, 2024 • ( LEAVE A COMMENT )A shale gas well in Nottinghamshire that has been mothballed for more than four years has been decommissioned, officials have confirmed.?Suspended shale gas site at Springs Road, Misson, in Nottinghamshire. Photo: IGas planning applicationThe well at the Springs Road site in Misson has been plugged and abandoned. Plant and machinery have also been removed from the well pad.A spokesperson for Nottinghamshire County Council said:"Formal notification of plugging and abandonment has been received. "The site has effectively been restored to its previous condition and we expect to shortly receive formal notification that the restoration is complete."The spokesperson also said:"A limited number of concrete blocks remain near the site entrance and are scheduled to be removed shortly."The site operator, IGas (now known as Star Energy), drilled the exploration well in January 2019 and described the shale gas find as a "very material world-class resource".It had permission to drill a second, horizontal well at Springs Road and had said this well would be fracked.But this work was never carried out and the site has been mothballed since 2019.IGas blamed a moratorium on fracking in England, introduced that year and still in force.Local campaigners said the company had long enough to complete the second well and had chosen not to do so.In 2020, the company sought to extend the life of Springs Road by another three years.But the county council voted almost unanimously against an extension (12 against with one abstention) and ordered the site be restored.The operations at Springs Road were opposed locally and nationally. Misson Parish Council said the lives of local people had been "blighted" since the prospect of shale gas in the area was first raised in 2014.The Springs Road well was one of four UK onshore shale gas wells.Work to decommission two others, at Cuadrilla's Preston New Road site in Lancashire, is due to start in summer 2024. That site must be restored by June 2025.A fourth shale gas well, at Tinker Lane, also in Nottinghamshire, was decommissioned in 2019.The Springs Road wellpad is close to the Misson Carr site of special scientific interest (SSSI), a large wetland fen that is home to all five species of British owl, as well as other rare and threatened wildlife.Work to decommission the well and restore the site was required by planning conditions to be done outside the bird nesting season, to prevent disturbance on the SSSI. The annual nesting season began on 1 February.The pad was also on the site of a former bombing range and test area for cold war Bloodhound surface to air missiles.Correction: IGas had permission to drill a second well but not permission for fracking

[kubera369] 20/2/2024 08:59

What does this mean for us?

[sea7] 19/2/2024 16:52

A shale gas well in Nottinghamshire that has been mothballed for more than four years has been decommissioned, officials have confirmed.

The site operator, IGas (now known as Star Energy), drilled the exploration well in January 2019 and described the shale gas find as a “very material world-class resource”

[valuehurts] 14/2/2024 19:49

Because they know that the management are crooks? They will take this private and sell off the oil producing assets for multiples of what they paid. Croatian geothermal, lol. It's never going to happen.

[nibble] 14/2/2024 16:19

There could be many reasons why Sandgrove do not wish to be part of the geothermal future of the company, but perhaps it's mainly because they're not daft and don't want to throw money down the drain.

[sea7] 13/2/2024 15:59

Sandgrove are still selling - at one point they had exposure to 16 million shares in August last year in a combination of shares and financial products - now they are down to 6.1m of exposure, with about 2.33% of shares still directly held as of 5th Jan.

they have stated that they do not wish to be part of the geothermal future of the company and have been selling ever since.

once they are gone, a lot of pressure comes off

[mountain man] 13/2/2024 15:51

Seller with someone buying a position for a bid?

[bri15] 13/2/2024 15:18

How much lower can share price go,it's getting stupid now.

[mountain man] 13/2/2024 09:13

Bid coming?

[barony] 13/2/2024 08:20

Current mkt cap doesn’t make sense in my ho.

[bri15] 12/2/2024 19:15

I just don't understand why the MM's won't let the share price go,😡

[sea7] 12/2/2024 12:11

net debt as of 30th November was £2.6 million

[barony] 12/2/2024 11:43

Seems that our “end of life” resources have increased in volume. How much debt do we have left sea7? Seems to me that we have a nice income while we try to develop our new assets.

[sea7] 12/2/2024 10:01

the last of the debt will be gone by end june this year - that is the maturity date of their RBL facility.

[cashandcard] 12/2/2024 09:45

The bigger issue is their low cash balance Vs net debt. Also, it's difficult (and messy) to make money out of the nodding donkeys and 'end of life' dribblers they have on the go.Cash

[cashandcard] 12/2/2024 09:35

Marketcap is not £1.5mln it's closer to £10.5mln.Cash

[barony] 12/2/2024 09:32

Npv of our oil reserves are nearly $400million and we have a mkt cap of £1.5Million!!

Doesn’t quite add up does it?

[kibes] 12/2/2024 08:09

The well in Croatia is irrelevant. All they are looking for is warm rock! It must be very depressing to work for an outfit like this which is going nowhere and unlikely to attract anyone who is any good.

[bones698] 12/2/2024 07:20

2100 hoped a day and get are struggling to make money no wonder the share price is falling . A did well in Croatia will see the share price halve from here and the odds are not good . Just looks like a job for the boys outfit bumbling along collecting wages while delivering sof all for shareholders

[bri15] 08/2/2024 16:05

£25K buyer has the same faith as me.

[bri15] 08/2/2024 15:27

bad gateway net debt is probably about cash in bank at present as it's been coming down at £2 million every 6 months,last interims over 6 months ago debt was £4 mill and under half that now.

[bri15] 08/2/2024 15:08

bsg,let's just wait and see who is correct.

[bad gateway] 08/2/2024 14:04

The reduction in net debt every quarter has impressed here. They could be nigh on debtfree by next reporting period if they carry on in the same vein but agree the geothermal has gone down like a lead balloon.