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Nice piece of news. Could be a fairly quick win to new revenue .
GLA
Danno
Sandgrove have been selling down - they don't want to hold for the geothermal, if i recall - their last holding statement was on 25th sept - they went down to 2.34% holding - so it is likely to be them still selling
Get rid of puppet prime minister Rick bring back Boris, yes he did make mistakes but he was a leader. He who hath never lied cast the first stone.
No logical explanation of why the shares have dropped. Fingers crossed things are looking up. Yes the massive peak was caused thro tory chaos of allowing shale production then removing it, but nothing since, apart from allowing more oil extraction and icreasing our dependency on gas from abroad!!!
Dated october 2023
htTps://drillordrop.com/2023/10/30/whats-happened-to-onshore-production-since-2018/
13 oil fields and four gas fields recorded rising production in recent months.
They represented less than a quarter of UK onshore producers but included the largest onshore gas field, at Saltfleetby in Lincolnshire, and several onshore oil fields operated by Star Energy in Lincolnshire and the Weald in southern England.
The biggest rise was reported at Saltfleetby, which resumed production in September 2022. Since then its most recent monthly data, from July 2023, was a record high. The field accounts for 80% of UK onshore gas production.
In these fields, production in the most recent month was above the monthly average for the past five years.
The oilfields were:
Bothamsall (Star Energy, Lincolnshire)
East Glentworth (Star Energy, Lincolnshire)
Gainsborough (Star Energy, Lincolnshire)
Goodworth (Star Energy, Hampshire)
Horndean (Star Energy, Hampshire)
Keddington (Heyco, Lincolnshire)
Long Clawson (Star Energy, Leicestershire)
Palmers Wood (Star Energy, Surrey) – see chart above
Rempstone (Star Energy, Nottinghamshire)
Scampton North (Star Energy, Lincolnshire)
Singleton (Star Energy, West Sussex)
Stainton (Star Energy, Lincolnshire)
Stockbridge (Star Energy, Hampshire)
AND
The top five
The data shows the UK’s top five oil fields were:
Wytch Farm (Perenco, Dorset) accounting for 80% of onshore oil production
Wressle (Heyco, North Lincolnshire)
Singleton (Star Energy, West Sussex)
Welton (Star Energy, Lincolnshire)
Stockbridge (Star Energy, Hampshire)
The top five gas fields were:
Saltfleetby (Angus Energy, Lincolnshire)
Coalmine vents operated by Infinis Energy at Bilsthorpe, Maltby and by Velox Power at Stillingfleet
Albury (Star Energy, Surrey) – in March 2023, the county council refused planning permission for the site to convert Albury methane into grey hydrogen.
Updated 1/11/23 to correct the operator of Stillingfleet to Velox Power
That seems a fair analysis RT.
Personally I think the oil price has started to stabilise and will only see increases over what is probably going to be a cold winter.
I've stuck a bit in here at 10p as it seemed already very undervalued. Hoping for a reasonable return if the market becomes more buoyant soon.
Currently it just looks like we need some news / update with news to come soon so that we get more than 2-3 trades a day for a couple hundred shares each...
My interest has dwindled. Particuarly seeing the oil price dropping. Also thoughts around the fact that if you dont like Geothermal, its more of a drawdown play. Im going to be patient and If I see the oil price looking a bit safer and the end to institutional selling, then I will hopefully go in. I fthe price gets much lower - certainly something like 5p - its such a bargin that it has to be worth the risk. Perhaps some more selling by large shareholders could deliver this.
There might be a litle twinkle at some point in near future perhaps Mr Cameron can get slick Rick to see the error of his way,s.
Very good video Rogue trader.
Have you made a decision yet?
Started with a rise then went down Why!
Doesn't look like the rise has stuck unfortunately.
But it's hard to tell as the number of trades are soo low.
Any long term holders around that can summarise what's happed with the drop over the last year and what news might be coming soon that could turn it around?
I know I should do more research (and I will) but haven't had the time yet and looking back through the RNSs often doesn't reflect sentiment or what happens to the price.
Also does anyone know why every trade here seems to be a kids pocket money rather than a reasonable sum?
Hope this not a flash in the pan.
Hi Rogue rader. If Star were to sell all their oil and gas assets for a bundle of cash they would, in my opinion, have the necessary funds for any new ventures. But whether anyone would offer what Star think they are worth is quite another question!
A New analysis of Star Energy: https://www.youtube.com/watch?v=I6h5jFMFmxI
I dont think they will want to sell their oil assets now because they need them to generate cash flows to use to invest in Geothermal.
Thanks SEA7. That's much how I was thinking.
They haven't specifically stated that they are up for sale, however, reading between the lines from what they have stated in their interims implies that a sale is the direction of travel for the o and g assets ...
The streamlining of the management structure and rebranding of the Company from IGas Energy plc to Star Energy Group plc, which is now complete, were important steps in refocussing resource and redefining the Company's strategic direction.
The Group has significant intrinsic value in its oil and gas portfolio, from the existing producing assets, where the focus is optimisation, from the portfolio of near term development opportunities that can give rise to a step change in production and from the significant ring fenced tax loss position. Whilst our focus is on delivering this value from our existing conventional assets, the Group is fast developing its geothermal portfolio, deploying our decades of expertise in developing subsurface energy sources
and after the croatian acquisition...
This is an important next step in our strategy to transition, over time, into a significant player in the geothermal market and to deliver future value for our shareholders."
Has there been a formal statement or an RNS (for example) that STAR's oil and gas assets are for sale? If so, what does any one on this bulletin board think they might go for? I'm guessing that they might be worth around the current market cap of approx £15 million to a small number of onshore players. So, if they went for that much, we might see a pretty decent jump in the SP.
Yes previously known as igas, had a name change to star energy.
Can we have some magic in STAR today.....will all of you shine bright today.....i hope so.