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What is meant by "less extensive"?
surely they should be as extensive as possible, for the benefit of dumb punters
Agreed or s%^tshow
This co needs to change it,s name to fallen star!
Where do most of our gas come from answer America ten years ago roughly the yanks economy where in tatters. What got them out of s it shale gas they invested heavily in shale gas results there economy turned around,what do we do bury our heads in the sand like ostriches, what happens next is millions have people pay high gas price's because of our governments stupidly becoming afraid of greenpiecee minority who run around with blinkers on, do not moan when we have a cold winter and people die because they cannot afford to pay there bills. There have not been any major earthquakes, I rest my case.
HtTps://drillordrop.com/2023/08/15/star-energy-sells-two-potential-drilling-sites-in-cheshire/
Dated 15th August 2023..
excerpts..
Star Energy selling two potential drilling sites in Cheshire
Land Registry documents seen by DrillOrDrop show the plots were bought by Star Energy subsidiaries from Grahams Estates Limited more than seven years ago.
Both are now being sold by Rostons estates agents as agricultural land at more than £10,000-£12,000 per acre. If both reach the maximum price, Star Energy Group would expect to receive about half a million pounds.
There is no publicly-available relinquishment report for PEDL190. DrillOrDrop asked Star Energy to confirm whether it had relinquished or surrendered the licence but the company did not respond. We’ll update this article if the company does reply.
Star Energy’s most recent accounts, for 2022, released on 30 March 2023, included PEDL190 as an asset. The group was the licence operator and held a 50% interest, along with Ineos. More recent statements from the company have not referred to PEDL190.
This country needs to wake up, right in front of your eyes is the answer to put the economy back on it, s feet ie shale gas has America Canada plus various places ever had a major earthquake, billions of pounds have been made, but no are stupid government take notice of green peace minority who think they no it all.
Star is going to be an interesting case in coming years as they transition from an oil & gas company to a geothermal one. Having increased expenditure to concentrate on maxing out production from its existing portfolio, production rose by just over 11% on 2022 1H as the run-off of the estate continues.
From now on it is going to be a really interesting play, as the statement says the Government white paper calls for joint working on the industry and to ‘move quickly’ to unlock its potential. Star have been an early mover here so I imagine that they will be able to be leaders in the sector in the public sector especially as they have been investing time, money and human resources in it.
If not, killing the fatted calf may prove to be a fateful decision, investors will have to decide whether to wait around for the results, something that may take a very long time. The shares are down some 90% since the high earlier this year so it looks like investors would rather watch from the outside.
Those that bought egdon say this...
HEYCO Group believes that fossil fuels remain critical for the UK's future and that Egdon is strategically positioned for that future with its conventional projects as well as with opportunities for gas storage, hydrogen, geothermal, and renewable generation.
and
HEYCO Group was part of the group that commenced production at the Avington field in southern England in 2007 and is the parent company of a current UK licence holder.
ends..
star energy is the operator in the avington field.
there are a lot of similarities between HEYCO and star - which lend to the view that they could be a potential buyer for all of stars o and g assets
The rns today confirms the company's plan to exit o and g and focus on the geo thermal.
that means it is for sale - egdon was sold for £26 million with revenue of £6.9m for the year on 250 boepd or thereabouts.
star had £59 million revenue on over 2000 boepd - the o and g has a value way in excess of the current cap
Https://oilprice.com/Alternative-Energy/Geothermal-Energy/Geothermal-Energy-The-Hot-New-Trend-In-Renewable-Power.html
Countries worldwide, including the U.K., Japan, Kenya, and Indonesia, are looking to develop their geothermal energy capacities to diversify their renewable energy mix.
Dated 13th july...
htTps://drillordrop.com/2023/07/13/south-downs-oil-field-to-restart-production/
Oil extraction is to resume at the Avington field in the South Downs National Park after a break of more than five years.
And
It said the operator, recently renamed Star Energy, would carry out a workover of the Avington-3z well. This was the field’s best performer, accounting for 81% of the produced oil, UKOG said. It added:
“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 average extraction rate when the field was producing was 336 barrels a day.
Https://www.alphaspread.com/security/lse/igas/dcf-valuation/base-case
The intrinsic value of one IGAS stock under the base case scenario is 75.3 GBX. Compared to the current market price of 12.15 GBX, IGas Energy PLC is undervalued by 84%.
Bank of America reduced to 0.0% any views on this and the level of recent selling to achieve this? Hopefully should see a move upwards now. Coincided nicely with the Biden visit and the fact UK are now a huge hub for fracked US gas.
May only be a month of hedging in total - but it will make a bit of a difference
Thanks G- martin
one other point to note - whilst they did take losses on hedging in 2022, they will make on it this year....from the same accounts..
To protect against the volatile oil price and in accordance with the requirements of our RBL facility, the Group placed commodity hedges for a period of up to 12 months. As at 31 December 2022, the Group had hedged a total of 60,000 bbls for 2023, using fixed price swaps at an average fixed price of $94.93/bbl.
From the annual accounts...end december 2022
We are now firmly focussed on maximising the value of our oil and gas assets to facilitate a "just transition" to a renewable energy future through the growth of our geothermal heat business
...
that says to me and it is just my opinion, that they are going to offload the entire
O and G business, and "transition" to a solely geothermal business, with no liabilities and cash on hand to develop it.
at the current cap, an announcement of a sale of the entire O and G porfolio should put a rocket under the share price.
How would they bounce unless the company provide some information on their plans and strategy? Well oversold though….
Ask them... https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=IGAS.L
Why the price drop for a change of name???
Please note, the new message board for starcom, now T42 is as follows
https://www.lse.co.uk/SharePrice.asp?shareprice=TRAC&share=T42-Iot-Track
Thank you, many thanks.
No it isn't, use trac to get the t42 bb
https://www.lse.co.uk/SharePrice.asp?shareprice=TRAC&share=T42-Iot-Track
Link here
Good morning is this the board for STARCOM?
I've emailed about this yesterday funnily enough. As the Polaris off-road electric snow mobiles were officially released last week