Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Https://drillordrop.com/2024/02/02/uk-onshore-oil-and-gas-production-in-charts-november-2023/
star energy produced 17% of the UK total onshore oil production in November 2023. secondly only to perenco.
star energy produced 14.85% of the uk total onshore gas production in November 2023. third behind perenco and just behind velox power.
Https://www.voxmarkets.co.uk/articles/canaccord-genuity-lowers-target-price-on-star-energy-fbdcc5a/
Over the past year, Canaccord said Star has turned around "a declining UK production profile" for the first time in many years, through a combination of greater focus on incremental low-cost enhancements to well performance and significantly improved surface facilities efficiencies and uptime.
"That has clearly borne fruit over the past 12+ months, and we think there is plenty of scope to maintain that elevated performance at least over the next few years. That is important because while the company sees longer-term growth through its geothermal businesses, it is the UK conventional hydrocarbons that provide the backbone of cashflow in the nearer-term," said Canaccord.
The Canadian bank thinks the progress made by Star in the UK and in Croatia was "substantial", and certainly not reflected in its recent market performance.
Multiplying the volume (1 trillion cubic feet) by the current market price per unit would give an approximate value. For instance, if the current market price is $3 per thousand cubic feet (Mcf), then the value of 1 trillion cubic feet of natural gas would be approximately $3 million.
using the above, then 270tcf would be £810 million
When star was igas...
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/102822-igas-slams-return-of-uk-shale-gas-fracking-moratorium
IGas said it had "a significant recoverable gas resource in the Gainsborough Trough," with an estimated 630 Bcf of gas per square mile, which would equate to 270 Tcf if applied to the company's entire acreage in the East Midlands, meeting up to 19 years of the UK's gas demand at expected recovery rates.
The operation is likely to continue for approximately one month, with results expected by late January 2024, on schedule with the planned work programme.
Commenting, CEO Chris Hopkinson, said:
"We are excited to begin the well re-entry on Ernestinovo-3. The speed with which we have constructed a well pad and commenced this operation demonstrates both the expertise of our local partners and the efficiency of the Croatian regulators. The Ernestinovo licence has excellent data from three deep exploration wells drilled in the 1980s and would suggest high temperatures and flow rates are achievable from this well
Geothermal developer CeraPhi Energy has acquired former fracking company Third Energy, including gas assets located in North Yorkshire, UK.
https://www.thinkgeoenergy.com/ceraphi-energy-acquires-former-shale-gas-company-third-energy/
Yep, certainly is - mcap of £10.3 million and for this you get...
ring fenced tax losses of £259 million
1P NPV10 of $143 million(2021: $144 million)
2P NPV10 of $235 million (2021: $215 million)
cash at 30th November was £2.9 million
net debt at 30th November was £2.6 million
and production of just over 2,000 boepd.
Whilst we are all despondent at the current derisory share price, it is worth noting that, the Uk markets currently show 152 stocks at 52 week lows, whereas this time last year there were 4 stocks at 52 week lows this time last year the FT100 was about to put in an all time high on 16th Feb.
https://uk.investing.com/equities/52-week-low