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Star is not shining very brightly, I hope this is not a damp squib.
I just sold out of BCE yesterday, purely in for the drill excitement. Point is, they HOPE to get 900bopd. MCAP £9mill. And many on the board suggest multiples on the SP IF they can 900bopd.
Star, a few mill more MCAP, actually producing oil and more than double what BCE hope for in their wildest dreams.
SP is nuts.
Yep and it provides 17% of the total Uk onshore oil pumped, as well as 4% of the UK onshore gas.
AGM is in a few weeks, you always have a news rich period before a AGM.
Amazes me that STAR is overlooked, it’s a £100m company today, over 150 staff…..valued at £11m 🤷🏻♂️
Article from yesterday
https://noah-news.com/stoke-on-trents-district-heat-network-enters-new-phase-with-20-million-investment/?amp=1
Think news it coming soon
Avington Joint Operating Committee has now formally agreed to restart oil production at the field. Prior to its 2017 shut-in, the field had produced 0.276 million barrels of an estimated mid case of 59 million barrels of original oil in place ("OIP"), a recovery factor of only 0.47%. As the three closest similar producing fields to Avington exhibit oil recoveries of around 6-13% of the assessed OIP, potentially significant remaining recoverable oil resources lie within Avington for future exploitation.
Avington operations will recommence via a workover of Avington-3z, the field's best performing well, which came on stream in 2007 and accounts for around 81% of produced oil. Given the 5-year shut-in period, which potentially has permitted reservoir pressure around the well to build up, some element of "flush" production (i.e., higher than the flow rate prior to shut-in) is expected upon production restart.
The field was granted new planning consent in December 2021.
Ineos and Star also own the land in and around old Trafford.
They are planning to redevelop old Trafford, the training ground and surrounding areas.
Handy that the ground underneath can pay for the building work above it 🤔
sir jim ratcliffe's no fool .. was seen cosying up to starmer at the man united v ****nal game - let's hope he knocks a bit of sense into the labour party, in terms of uk energy policy / windfall tax etc.
It will be an interesting general election, Star already have a contracts with NHS and SSE for geothermal so if the torries win it will be business and usually and they will continue to develop Geothermal at the same pace.
If labour win, they will be pushing green energy and Star will be expanding quickly!!!
This is excluding the O&G business and the geothermal drilling in Croatia.
Massively undervalued, fully cashed up, great assets….no brainer at these levels.
INEOS bought Grangemouth off STAR and turned it into a carbon capture play…
https://www.ineos.com/news/ineos-group/ineos-to-acquire-significant-share-of-key-igas-north-west-shale-gas-assets/
STAR stating their open to selling acreage last month 🤔
Nevertheless, iGas is aspiring to develop the UK’s first blue hydrogen project. Its Albury site would generate 1000kg/day of hydrogen, and Bletchingley 2000kg/day, offering a potential of up to 6000kg/day depending on reserves. Discussions with potential offtakers are taking place for both projects. It should be noted that both will run on SMR techniques: the projects will only count as blue hydrogen if iGas can demonstrate that gas used in the electrolysis process will not enter the atmosphere.
Wonder what’s cooking in the background
Nevertheless, iGas is aspiring to develop the UK’s first blue hydrogen project. Its Albury site would generate 1000kg/day of hydrogen, and Bletchingley 2000kg/day, offering a potential of up to 6000kg/day depending on reserves. Discussions with potential offtakers are taking place for both projects. It should be noted that both will run on SMR techniques: the projects will only count as blue hydrogen if iGas can demonstrate that gas used in the electrolysis process will not enter the atmosphere.
“At the end of the day they have a lot of acreage, there aren’t many players with the same amount. I can see somebody being interested in that. But would shareholders be prepared to sell or go for some sort of farm out agreement, which IGas already has with Total at one location.”
He added: “The majors are cutting down on capital expenditure and are being told to maximise returns to shareholders. Anyone looking to make a bid will look very hard because there are a lot of assets on the market. But you could see the likes of Ineos, a less traditional player in the market, being interested.”
Ineos want to use the gas to bring down overheads at its chemicals plant. It has been buying up exploration rights close to its Grangemouth facility in Scotland and is bidding for licences in the Government’s 14th ongoing onshore licensing round. IGas holds the rights to large areas around the North West close to Ineos’s site in Runcorn and on Monday it started drilling an exploration well in Ellesmere Port.
Chemical giant Ineos owns a 60 per cent stake in an onshore oil and gas licence covering large swathes of Trafford and Salford.
The licence, known as PEDL193, covers an inverted, L-shaped 296 sq km plot including Carrington, Trafford Park, Irlam, Eccles, Urmston, Stretford and Sale, stretching from Golborne, Wigan at its north west boundary, down to Higher Whitley, Cheshire, at the south west edge.
Its north eastern boundary is around half a mile from Old Trafford stadium. Ineos owns 60 per cent of the licence, with the 40 per cent held by Star Energy Group, previously known as IGas Energy.
https://www.manchestereveningnews.co.uk/news/greater-manchester-news/sir-jim-ratcliffes-ineos-owns-27291864.amp
Never realised we had such close ties to INEOS, they purchased assets off us in 2014
STAR is looking better each week, chart looks primed for a move up this week.
It still amazes me the MCAP is around £11m, based on the multiple assets, SSE JV, Geothermal it should be around £200m.
Broker notes pointing towards 50p and NAV of nearly £300m, an absolute gift at these levels.
Let’s not forget Ineos hold a 50% share in some of STAR’s assets 👀
Potential 20 bagger on our hands.
Https://au.news.yahoo.com/heat-networks-investment-opportunity-worth-073955495.html
Good job STAR are first mover on lse 😉
Could be an exciting month next month
-agm (share buybacks 🤷) 5% of the company would only cost them 500k at current price
-trading update, negative net debt and a healthy cash position 2000bopd?
-Croatia forward plan and extra JV?
-Stoke green light boots on the ground
“MOU with SSE Heat Networks Ltd for a geothermal district heating project in Stoke-on-Trent”
Shares in IGas @Starenergygroup were up 92% at 36.40 pence in London on Monday (2021)
“A decision is expected in the second quarter of 2024”
Https://www.pressreader.com/uk/the-sentinel/20240316/281663964988086
Stoke about to be green lighted 😉
Hit 37p on this mou
Https://www.bnnbloomberg.ca/ina-to-spend-400-million-a-year-on-croatia-refinery-renewables-1.2076637.amp.html
Hot money piling into Croatia, be a good time to release the data from our recent drills
Loads to look forward to guys expecting 20- 30p short/medium term:
STAR being moved up
AGM next month for share buybacks
Trading update reinforcing profitable 2000bopd cash position around £7m mcap £11m
Geothermal grants
Wythenshaw £10mish
Salisbury £10mish
Stoke £20m
JVs/sales for:
Croatia (£40m plant)
Glentworth 200-2500bopd fully permitted uk onshore asset
Corringham (1billion resource) uk onshore
Bletchingley gas to wire 2mmscf
👍
Same took some more too
Trading update and agm next month
Trading update should read very promising
Be nice for them to start showing the figures involved in geothermal, think it’ll suprise a few
Topped up to double my holding here today, seems like it's found a nice floor around 9p, and so much potential that I could see this having a really good run up this year as things come to fruition!
Well managed,making money,financing sorted and little debt!What’s not to like! I do own this share,so slightly biased!
Excellent, very profitable this year I’d imagine what a turnaround