RE: Right up Stars' street....23 Mar 2024 15:01
#STAR
£10m mcap highs of £100m+
UKs largest listed UK land producer 2000-2200 boepd, cash generator/profitable, reinvesting into abandonment/green energy (hydrogen,ccs, geothermal and solar)/new oil and gas generation on current uk on land assets
On track to deliver an extra 200-800 boepd (all paid out of cashflow) taking them to 2500-3000 boepd
Geothermal unseen on UK market, operate in Croatia and UK. UK assets in partnership with SSE as offtake profit potential of £14m+ on each plant
RBL debt facility available up to £17m only £2m used
Reason it’s cheap: used to be called IGAS and had the largest uk fracking asset capable of generating enough gas for the uk for 19 years, tr1s 20%+ (sand grove and Bank of America) bought in off the back of fracking and had to exit due to the ban, subsequently rebranded and forgotten