The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Geothermal looks to have a decent chance of being very successful in Croatia. Worth reading up on the countries attitude to this tech as they intend to use it to supply europe with green energy.
Much more interesting than I initially thought anyway.
They're never going to pay divi's as an oil company. They'll blow it all on geothermal.
Agreed. Now needs to start paying dividends as a utilty stock.
So with Brent now approaching $90, having risen from near $75 at the end of 2023, and Star producing circa 2000bopd, that is an extra $30K of revenue per day. Or put another way $1m a monthand most of it should drop to the bottom line all other things being equal. I don't think it will take them till June to pay off the remaining debt, I think it could be cleared by the end of this month.
Couldn't agree more Sea7 - very fair and conservative assessment. They do also still have the value of the possible fracking sites devalued/written-back for today's accounting purposes by £30 million. With energy security at an all time interest in Europe / UK and soon to increase unsustainable gas pricing this may one day come back into play?
Because they were subject to relentless selling by sandgrove and bank of america, as well as paying down debt. The share price is beginning to recover now that it appears those two sellers are gone and the debt will be gone in about two to three months also.
when they were IGAS, they had a low of about 10p a share when covid lockdowns arrived in 2020 and hit over 110p a share when the shale ban was lifted. IGAS was about 15p a share when the name change took place, if I recall.
as the above has dragged on for so long, the market has largely ignored them. The company is in better shape than it has ever been and by rights, a reversion to at least 20p a share should be on the cards as it is an undemanding target and is a good support level.
Producing more than Wressle
So now explain how UJO and EOG have combined mcaps of 27m at 70% of wressle so 1100 boepd combined
And STAR have 100% ownership, their own abandonment crew and rig 2185 boepd and climbing 12m mcap
Yes, been much better this last few days. Still very much undervalued too
Nice to see a steady stream of buying again today.
I agree Sea, but it would be nice if it were to be accompanied by one or both of the others?
I know, I'm greedy.
Danno.
Big sellers finally gone
Croatia results are ace?
Big seller finally gone?
Government announcement about energy security?
26% on 'no' news - let's hope its only the start.
GLA
Danno
It has shoved star up to 2nd highest riser of the day
.. and if there's any wiff of fracking being back on the agenda pre. general election - prepare for lift off. Several MPs / prominent political journalists are starting to ask serious questions of government re. the UK's future energy security (or lack of).
Should also be noted that they want to transition to a geothermal company - which means they will sell the entire O and G porTfolio, once they have it all tidied up - it is worth multiples of the current SP
Traders Are Buying Oil At The Fastest Rate Since 2020
By Irina Slav - Mar 26, 2024, 6:00 PM CDT
https://oilprice.com/Energy/Crude-Oil/Traders-Are-Buying-Oil-At-The-Fastest-Rate-Since-2020.html
According to the Reuters numbers, in the week ending March 19, traders bought the equivalent of 140 million barrels across the six most traded crude and fuel contracts.
Now showing 20%
GLA
Danno
Good point
Sea .. they probably wanted clear by end of tax year
Even at 20p a share its a paltry £22 million mcap
Defo looks like Sandgrove and Bank of america are done selling
Feels like seller has defo gone, that kept depressing us.
Alanadale, I reckon a lot will be thinking along same lines as you. An Isa investment into a co that should be debt free in a few month, and production of over 2000 bopd.
Producing 17% of all UK onshore oil!
Year end confirming how ridiculously undervalued we are
Then Croatia results
Then SSE mou activation
Hit 37p on announcement of mou