Star Energy Share Discussion Threads

[ashkv] 18/7/2023 18:45

dated 17th July 2023



Star gets a mention in this, as IGAS is the holder of the other 40% of the licenses.

[sev22] 17/7/2023 20:10

The intrinsic value of one IGAS stock under the base case scenario is 75.3 GBX. Compared to the current market price of 12.15 GBX, IGas Energy PLC is undervalued by 84%.

[sea7] 17/7/2023 19:54

The intrinsic value of one IGAS stock under the base case scenario is 75.3 GBX. Compared to the current market price of 12.15 GBX, IGas Energy PLC is undervalued by 84%.

[sea7] 17/7/2023 17:14

someone has created a new, dedicated star energy board....

[sea7] 17/7/2023 17:05

dated 17th July 2023



Star gets a mention in this, as IGAS is the holder of the other 40% of the licences.

[sea7] 17/7/2023 16:57

Company view on why it changed its name....

In March 2023, IGas explained why it planned to change the company name:

“As the Company has been reshaping its strategic direction to reflect the transition to a lower carbon economy, the Board is proposing a change in the Company’s name to Star Energy Group PLC.”



My view here is the talk of "reshaping strategic direction" - I would not be surprised to see them sell the entire oil and gas portfolio and purely focus on geothermal in due course.

[hooded claw] 17/7/2023 11:02

!FOLLOWFEED
Decided to STARt this thread as it is the new name for IGAS and the other didn't have charts (what is the point of a thread without charts ?)

[sea7] 13/7/2023 15:53

Now that the seller is gone - the pressure should come off and upward movement be seen
so overshot to the downside here

[ashkv] 13/7/2023 12:01

Fall in Star Energy / IGAS has become apparent - large seller Bank of America (Likely Nominee Account) has fully sold out from 5.72% to 0% as of 10 July 2023 - notified yesterday/RNS dated 13 July 2023

Should bounce from here as woefully undervalued!!!

[ashkv] 12/7/2023 19:18

Given the value ascribed to 2p reserves and what Egdon very recently sold for - a sale of O&G assets at equivalent to 60p plus should be easily achievable!!!

[sea7] 11/7/2023 14:40

maybe greenie nonsense - but look at the board recent changes..

Philip Jackson has been appointed as Non-executive Chairman. Philip has been a Non-executive Director of IGas since 2017

Since March 2021 he is a senior advisor to and has been asked to join the board of Arctic Green Energy Corporation (one of the world’s leading geothermal district heating businesses, primarily in Asia)

star energy purpose on their website..
...is to provide for today’s energy needs responsibly, whilst transitioning to low-carbon sources of energy for tomorrow

..

they are indicating a direction of travel for the business away from O and G.

I remember highland natural resources did this - dumped their O and G to become a CBD product retailer.

[kibes] 11/7/2023 14:26

sea7 - the 'geothermal business' just sounds to me like a lot of greenie nonsense trying to play to the 'Just Stop oil' gallery. It is all BS. If they sell their oil and gas assets there will be nothing of any consequence left.

[sea7] 11/7/2023 14:16

always a possibility - downtrend is still intact

[kubera369] 11/7/2023 14:12

8p and under is very possible here Not long to go

[kubera369] 11/7/2023 14:04

Waiting for the inevitable break down under 10pNot long to go Patience has been a pleasant one as the shorters are still driving it

[sea7] 11/7/2023 12:57

one other point to note - whilst they did take losses on hedging in 2022, they will make a bit on it this year....from the same accounts.. may only be a months worth in total, but it will help

To protect against the volatile oil price and in accordance with the requirements of our RBL facility, the Group placed commodity hedges for a period of up to 12 months. As at 31 December 2022, the Group had hedged a total of 60,000 bbls for 2023, using fixed price swaps at an average fixed price of $94.93/bbl.

[sea7] 11/7/2023 10:58

I noticed that LSE has completely removed the entire IGAS page on their website, so that all historical rns's, chat etc is no longer available. Unless you know about the history of the change to star energy and don't realise that they are barely even mentioning the o and g assets on the new website, you won't even realise at first glance they have 2000 boepd of production.

[sea7] 11/7/2023 10:52

From the annual accounts...end december 2022

We are now firmly focussed on maximising the value of our oil and gas assets to facilitate a "just transition" to a renewable energy future through the growth of our geothermal heat business

...

that says to me and it is just my opinion, that they are going to offload the entire
O and G business, and "transition" to a solely geothermal business, with no liabilities and cash on hand to develop it.

at the current cap, an announcement of a sale of the entire O and G porfolio should put a rocket under the share price.

[ashkv] 11/7/2023 10:38

STAR / IGAS head of Communications/IR should be sacked ASAP!!!

No visibility on the share, no investor meetings / webinars.

On the alternate forum - LSE the page for STAR//IGAS is a continuation of Starcom which prior had the ticker STAR!!!

Even on Google Finance STAR/IGAS has incorrect stats - linked to prior Starcom with a GBP 5mn market cap at present!! Shambles!!!

[kibes] 11/7/2023 08:24

ashkv - agreed. With the current level of interest a return to previous lows at around 8p is entirely possible. If so I am ready to buy a lot at that point.

[ashkv] 10/7/2023 15:54

Indeed I believe the name change to Star Energy has backfired as folks who were familiar with IGAS seem to have fallen off the radar.

A cursory review on Google Finance has the 5 year and all time low just north of 8p and it would appear STAR/IGAS at the rate its going will soon be at these low levels.

Existing production is not adequately valued, let alone projected production growth, exciting Geothermal business which is slowly getting up to speed, and of course the tax losses!!!

Expect an offer at these derisory levels - Enterprise Value / 2P Reserves will soon be under $1... However, the entire UK market is a bargain and more so with each day of falling share prices :(

STAR Share Price: 12.5
Brent: $78.75
STAR Current Share Price vs 52 Week low of 12.5p on 10 July 23: 0.00%
STAR Current Share Price vs 52 Week High of 101p on 30 Aug 22: -87.62%
Total Voting Rights: 127,398,918
Market Cap GBP: £15,924,865
GBPUSD: 1.28
Market Cap USD: $20,383,827
Net Debt-GBP (31 May 23- Per RNS 14 June 23): £4,000,000
Net Debt-USD (31 May 23- Per RNS 14 June 23): $5,120,000
Enterprise Value (USD): $25,503,827
STAR Production Guidance (Boe/d) 2023: 2,000
STAR/IGAS Actual Average Production 2022: 1,898
EV/BARREL-USD FY 2023 Guidance: $12,752
Decommissioning Provision FY 2022 Results (GBP): £62,825,000
Decommissioning Provision FY 2022 Results (USD): $80,416,000
EV/BARREL-USD FY 2023 Guidance with Decommissioning: $52,960
IGAS 2P Reserves Year End 2022 Boe ( 17,040,000
EV/2P $1.50

[kibes] 10/7/2023 09:25

Well at least there is one other person interested in Star Energy! I can't understand why it hasn't been taken over for its £260 million tax losses. However, I think net zero is going to come back and bite us all hard soon enough, I could quite envisage gas prices going completely through the roof when the silliness of the whole scheme becomes obvious. We need a cold winter.

[ashkv] 07/7/2023 10:01

STAR Share Price: 13.25
Brent: $77.00
STAR Current Share Price vs 52 Week low of 13.25p on 7 July 23: 0.00%
STAR Current Share Price vs 52 Week High of 101p on 30 Aug 22: -86.88%
Total Voting Rights:127,398,918 shares
Market Cap GBP: £16,880,357
GBPUSD: 1.275
Market Cap USD: $21,522,455
Net Debt-GBP (31 May 23- Per RNS 14 June 23): £4,000,000
Net Debt-USD (31 May 23- Per RNS 14 June 23): $5,100,000
Enterprise Value (USD): $26,622,455
STAR Guidance 2023: 2,000
STAR Actual Average Production 2022: 1,898
EV/BARREL-USD FY 2023 Guidance: $13,311
Decommissioning Provision FY 2022 Results (GBP): £62,825,000
Decommissioning Provision FY 2022 Results (USD): $80,101,875
EV/BARREL-USD FY 2023 Guidance with Decommissioning: $53,362
STAR ENERGY/IGAS 2P Reserves Year End 2022 Boe ( 17,040,000
EV/2P $1.56