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And currently, just under 88 to sell.
Nice profit.
Proving up glentworth and hydrogen storage ready.
Can’t believe the potential of corringham
producing more than the whole of wressle
@Starenergygroup 2100 boepd 10m mcap
Wressle 1700 boepd #EOG 30% 10m mcap #UJO 40% 17m mcap
41 DOLLARS TO PRODUCE correct me if im wrong
*Glentworth
Yep, 2000 boepd is very conservative for next year. Was 2100 this year and the Glentwortb project alone has the possibility to add 500
Corringham
The extensive site upgrades required to drill an additional well at Corringham were completed in Q4 2023. Phase 1 of the Corringham project is now "shovel ready" and will be assessed as part of a capital allocation exercise following the refinancing in April 2024. The project can develop c.350 Mstb of 2P undeveloped reserves and initial production is expected to be c.110 bopd. The success of Phase 1 of the project unlocks Phase 2 which could develop c.935 Mstb of current 2C resources.
935 million stock tank barrels
Https://www.starenergygroupplc.com/wp-content/uploads/2024/04/FY-Results-23.pdf
Page 7:
“Seek farm in partners “
Corringham 1b barrel potential glentworth 2500 bopd potential
And seeking a JV
Parenco production slipping 🤔 seems a no brainer duo imo
Valuation, target price and rating We take account for our new commodity assumptions and make a number of adjustments to our model, taken together we increase our risked NPV10 based target price to 66p (from 55p) and maintain our Buy rating on Star Energ
Valuation, target price and rating We take account for our new commodity assumptions and make a number of adjustments to our model, taken together we increase our risked NPV10 based target price to 66p (from 55p) and maintain our Buy rating on Star EnergY
Ah, I always forget you can’t post links here. Just search for starenergygroup on telegram
*************starenergygroup
here’s the link if anyone wants to join
Hopefully we get an investor webinar shortly too :)
Agreed, probably details on Croatia geothermal project in a week or two
I think they’ll leave the forward plan on Croatia till next week. A same size plant in a similar area nets €14m euros per year
Excited for today, eeked a net profit? Forward plan detailing:
Glentworth (extra 2500 bopd possible)
Corringham (growing resource 350m barrels+)
Blue hydrogen and CCSU
Croatia
SSE mou?
Gl all
For anyone new here once results drop:
c.2000 barrels of production a day
c.$43 cost per barrel
Low debt - should be elaborated on shortly
Big investments into geothermal with additional grant funding to increase revenue streams
Should be - I’m expecting more like £15m
Could actually get a gross profit greater than the current market cap
Watching this very keenly this morning, should post £10m+ gross profit for last year
Great work pp, hope you keep it up. A very decent overview
Wrote a small article about Star Energy - https://ppinvest007.substack.com/p/unknown-unpopular-underrated?r=dnjys
Canaccord Genuity Group reaffirmed their buy rating on shares of Star Energy Group (LON:STAR – Free Report) in a report released on Tuesday, MarketBeat reports. Canaccord Genuity Group currently has a GBX 55 ($0.70) price objective on the stock.
https://www.defenseworld.net/2024/04/10/star-energy-group-lonstar-receives-buy-rating-from-canaccord-genuity-group.html
Wow nice 23k buy results due soon
Get in while you can, this star is beginning to shine, not before time, btitain did not help it at all. We still import our gas from America, which depends on fracking plus they have had no major earthquakes.