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Canaccord Genuity Group reaffirmed their buy rating on shares of Star Energy Group (LON:STAR – Free Report) in a report released on Tuesday, MarketBeat reports. Canaccord Genuity Group currently has a GBX 55 ($0.70) price objective on the stock.
https://www.defenseworld.net/2024/04/10/star-energy-group-lonstar-receives-buy-rating-from-canaccord-genuity-group.html
Just the oil assets that push out over 2k boepd are worth at least 40p a share if sold. IMV
This has Ring fence tax losses of £259 million and 1P NPV10 of $144 million(2021: $139 million): 2P NPV10 of $215 million (2021: $190 million)
By another poster on another board..
They’re also looking into to hydrogen storage with any depleted assets.
https://cadentgas.com/news-media/news/march-2024/502a8604-b1a5-4984-821d-ccdf145ac95d#
EMstor, a consortium led by Cadent, the UK’s largest gas distribution network, and partnered with Star Energy Group, British Geological Survey (BGS), Net Zero Strategy and the University of Edinburgh, has been awarded Discovery funding by OFGEM/Innovate UK's Strategic Innovation Fund (SIF).
The funding will be used to undertake an innovative new study to evaluate the geological storage potential in the East Midlands region that is set to be served by Cadent’s future 100 per cent hydrogen pipeline.
Star has the largest fracking licenced areas in the uk - see what this outfit are doing with their areas in the uk..
posted by a user on another board..
the fracking licensed areas (biggest in UK) which could be converted for Geothermal use
https://www.cpreney.org.uk/news/yorkshire-fracking-site-geothermal-energy-hub-sustainable-solution/
Star is unhedged on its oil so capturing all the upside on the latest run up in prices. They have obtained financing to retire the rest of the legacy debt and provide for drilling costs in the geothermal space. This leaves the cashflow from the oil to ensure it can be expanded and optimised.
The company is now in the best place it has been for years. This should be a rerate we are seeing now.
I note in the comments on the below page, regarding the funding...(what brings sericas CFO to stars linkedin page?)
https://www.linkedin.com/posts/starenergygroupplc_we-are-pleased-to-announce-this-morning-the-activity-7183369015728181248-kRct
Martin Copeland
CFO at Serica Energy
14h
Huge congratulations guys! Really excited for you
From the last accounts...
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Good solid move today - 10p is still cheap for GDP and makes it an undemanding target
Finally on the move up
Because they were subject to relentless selling by sandgrove and bank of america, as well as paying down debt. The share price is beginning to recover now that it appears those two sellers are gone and the debt will be gone in about two to three months also.
when they were IGAS, they had a low of about 10p a share when covid lockdowns arrived in 2020 and hit over 110p a share when the shale ban was lifted. IGAS was about 15p a share when the name change took place, if I recall.
as the above has dragged on for so long, the market has largely ignored them. The company is in better shape than it has ever been and by rights, a reversion to at least 20p a share should be on the cards as it is an undemanding target and is a good support level.
Traders Are Buying Oil At The Fastest Rate Since 2020
By Irina Slav - Mar 26, 2024, 6:00 PM CDT
https://oilprice.com/Energy/Crude-Oil/Traders-Are-Buying-Oil-At-The-Fastest-Rate-Since-2020.html
According to the Reuters numbers, in the week ending March 19, traders bought the equivalent of 140 million barrels across the six most traded crude and fuel contracts.