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Smacks....... alert the cnts
https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwj6zOS3xO6EAxW8WEEAHbaDASQQFnoECA0QAQ&url=https%3A%2F%2Ffuelcellsworks.com%2Fnews%2Ffunding-bid-success-for-emstor-set-to-explore-geological-hydrogen-storage-potential-in-the-east-midlands%2F&usg=AOvVaw2fuVTGLtGW5A6A5idno-YS&opi=89978449
https://hydrogen-central.com/cadent-funding-bid-success-for-emstor-set-to-explore-geological-hydrogen-storage-potential-in-the-east-midlands/
Even a whisper of something being able to be done with those gas reserves would set the thing booming. Sadly I think we can discount it for now. 2000 Bopd and getting debt free in 2024 is still pretty incredible for the cap here.
Be nice if they did use our own reserves but more likely the tories have done a deal to buy US gas involving plenty of brown envelopes to ministers.
More and more there is a realisation that we still need to deal with the old.....
BBC News - New gas power plants needed to stop blackouts, Claire Coutinho to say
https://www.bbc.co.uk/news/science-environment-68538951.
Could the vast gas reserve still have a part to play??
GLA,
Danno
Yep, on average they have kept to a rate of about £3m paid off every six months. - so we should be at about £1.1 million at end feb.
Blue today. Net debt has been paid down aggressively over last couple yrs. They stated in presentation before xmas they expect to have it paid down by June. That level of cash generation will be enormous for co at this market cap, quite mad. Tuck em away.
Net debt
Nov 23 update: GBP2.6 million
22 Finals: GBP6.1m
21 Finals: GBP12.2m
Not got the telegram app but have bought a few shares today. Agree if the Croatian drill is successful these will lift from this abysmal level and from the news on the boards its looking fairly positive so far.
ATB to the holders,
There’s some decent research going on in the little telegram group. I’ll not post the link as lse don’t like it but if you search starenergygroup with no spaces you’ll find it
You may have noticed in one of the comments on the linkedin article in my post 101..the following...
Alex Schellenberg
Business Development Manager
23h
All the best for the test Star Energy, we are sure our harsh environment RG´s downhole memory gauges will provide you with the high quality data you are looking for.
comment ends
schlumberger have this to say about memory gauges..
Memory gauges are generally used to measure bottomhole pressures and temperatures in response to various production rates in tests to assess well productivity and reservoir performance.
....
must be successful if they are using a gauge to assess productivity and performance
Great find SEA7. If the geothermal testing is positive you won’t be buying down here.
Ernestinovo Licence
The Licence
A 76.66km2 exploration licence in Eastern Croatia with 3 deep exploration wells drilled (extensive data suite) and 250km of 2D seismic data reprocessed and interpreted.
Fulfilled work program
Subsurface data has been reviewed, sorted and graded, the database has been created. Seismic data has been reprocessed to gain more resolution within the deep granite-gneiss structures where the main geothermal target has been defined. The G&G study of the area which encompasses all the data, analyses and interpretation of the geothermal potential has been made.
Conceptual project for Ernestinovo-3 well workover has been submitted.
Remaining Licence commitments
Re-enter an abandoned oil and gas well (Ern-3) to test the geothermal potential of the fractured metamorphic pre-Cenozoic formation
Complete and submit to the Croatian Ministry of Economics and Sustainable Development a conceptual development plan and reserve report
Development Concept
Based on preliminary heat reserves and well productivity estimates, a 10MW electricity generation plant (ORC) is planned:
* 4 producing and 2 injecting wells (4 new wells and 2 well re-entries of abandoned wells)
* Connect into Ernestinovo HOPS substation - a major
substation with 400kV transmission lines to Zagreb, Hungary,Serbia and Bosnia, with step down to 110 kV and 85kV.
Nice find Sea,
Let's hope it 'heats up' the share price!!
GLA
Danno
These guys say testing is beginning on ernestinovo well
htTps://www.linkedin.com/posts/starenergygroupplc_workover-rig-onsite-in-croatia-at-our-ernestinovo-activity-7170793539331690496-ZJ9N
Posted 18 hours ago, as of time of posting here
Apologies for the spam - found a way to rename it - it's now @starenergygroup
Ah, well that didn't seem to work. I think you should be able to find the group in telegram by searching for it - it's called Star Energy Group
h t t p s : / / t . m e / + 9 R q o P L N f Z Z x i M G M 0
created a telegram group chat if anyone wants to join. there don't seem to be any currently so thought i'd set one up, try and see what the retail trader constituent is like in this share.
*************+9rqoplnfzzximgm0
Likewise, added another 25k this morning - spread getting tighter .. bargain, still below 8p. Will we get an RNS / TR1 today or tomorrow relating to Friday's big sell ?
Just bought 100k of these. I agree they are super cheap here. Brent is at the highest price since last Autumn and Uk Gas futures are rising from the bottom. Energy sector might get some life.
Like you guys I have been watching this for the past few months. Soon, if not already, debt free and producing 2000 BOD.
What's not to like given its extremely low market valuation. I live about 2 miles from their wells at Glentworth and there doesn't appear to be any issues there as far as I can see. It is either a cracking opportunity that the market hasn't picked up on or there is something not right behind the scenes. My money is on the former.
Rare to see such obvious "£50 note" in quad
if you believe you understand why a major holder was a forced seller
dyor, all...and don't rely on any of us!!
Yep - debt free by june, as last of RBL facility matures, O and G assets worth multiples of current sp and producing at least 2000 bopd.
Thanks AP, been watching this one closely for a while - took my first 100,000 yesterday. Loaded another 275,000 this morning after the large sell. Hope that’s 100% out for Sandgrove, if so I agree - share price free to move quickly now. All the best ..
Btw, if anyone is unsure why Sandgrove selling is a good thing - the CEO accidentally let slip on a call around September last year that although they love the company, their fund criteria specified that they had to invest in fracking so when that fell through they were forced to sell. That is why nobody has been buying and this is so undervalued. Once they are out, we are free to go
There we go, £100k+ sell went through, RNS that Sandgrove are out is coming very soon and there will be a flood of buying
Volatility is about to pick up here massively. They're now debt free and every single day racking up cash from hugely profitable oil business, good news on geothermal just around the corner. I have already loaded up - now hold just under 3% but I know some waiting and will load up the minute Sandgrove announce they are done, which should be within the next few weeks. When that happens we will revisit 40/50 area in short order and then probably much higher