Star Energy Group Plc

STAR · AIM · Energy · mcap £39m · 20.5p 1 open situation →

Star Energy produces about 1,900 barrels of oil equivalent a day from UK oil and gas fields. It also has UK geothermal heat development projects.

Target	Promise	Said	Status
2023
FY 2023	Deliver full year 2023 production target of c. 2,090 boepd	14 Dec 2023	✓ Kept
	“The Company remains on track to deliver its full year production target, expected to be c. 2,090 boepd.” How it developed 14 Dec 2023 Said “The Company remains on track to deliver its full year production target, expected to be c. 2,090 boepd.” 24 Apr 2024 ✓ Kept “Net production, beat guidance averaging 2,100 boepd in 2023 (2022: 1,898), with uptime across the portfolio remaining strong over the year” Result FY23 results showed net production of 2,100 boepd, beating guidance. “Net production, beat guidance averaging 2,100 boepd in 2023 (2022: 1,898), with uptime across the portfolio remaining strong over the year”24 Apr 2024 · Final Results
2024
FY 2024	Net production of about 2,000 boepd in 2024	24 Apr 2024	✓ Kept
	“We anticipate net production of c.2,000 boepd and operating costs of c.$41/boe (assuming an average exchange rate of £1:$1.26) in 2024” Also stated 18 Sep 2024 How it developed 24 Apr 2024 Said “We anticipate net production of c.2,000 boepd and operating costs of c.$41/boe (assuming an average exchange rate of £1:$1.26) in 2024” 12 Jun 2024 Said “Production c. 2,000 boepd” 25 Jul 2024 Said “Full year production forecast c. 2,000 boepd” 18 Sep 2024 Said “Full year production is expected to be c.2,000 boe/d” 24 Feb 2025 ✓ Kept “Net production for the year averaged 1,989 boe/d, in line with guidance.” Result 2024 production was 1,989 boe/d, reported as in line with guidance. “Net production for the year averaged 1,989 boe/d, in line with guidance.”24 Feb 2025 · Trading Update
Q3 2024	Start Salisbury hospital seismic data acquisition and analysis in Q3 2024	25 Jul 2024	✓ Kept
	“Seismic data acquisition and analysis for Salisbury hospital project to commence in Q3” How it developed 25 Jul 2024 Said “Seismic data acquisition and analysis for Salisbury hospital project to commence in Q3” 18 Sep 2024 ✓ Kept “Seismic data acquisition was completed in early September 2024 for the Salisbury NHS Foundation Trust project. Processing and interpretation of the data...” Result Seismic data acquisition was completed in early September 2024 for the Salisbury NHS Foundation Trust project, with processing and interpretation completed by year end. “Seismic data acquisition was completed in early September 2024 for the Salisbury NHS Foundation Trust project. Processing and interpretation of the data acquired will be complete by year end.”18 Sep 2024 · Half-year Results
2025
30 Jun 2025	Repay Facility A (€6.7m) by end June 2025	19 Jun 2025	✓ Kept
	“On track to repay Facility A (€6.7m) by end June 2025” How it developed 19 Jun 2025 Said “On track to repay Facility A (€6.7m) by end June 2025” 16 Sep 2025 ✓ Kept “Cash balances as at 30 June 2025 were £4.3 million (31 December 2024: £4.7 million) and net debt reduced to £2.7 million (31 December 2024: £7.5 million).” Result Net debt fell to £2.7m by H1 2025 results; no sign of missed repayment. “Cash balances as at 30 June 2025 were £4.3 million (31 December 2024: £4.7 million) and net debt reduced to £2.7 million (31 December 2024: £7.5 million).”16 Sep 2025 · Half-year Results
2025	Achieve G&A savings of about £1.5m a year from 2025	25 Jul 2024	✓ Kept
	“Good progress on G&A costs reduction expected to generate savings of c.£1.5 million in 2025” Also stated 18 Sep 2024 · 24 Feb 2025 · 29 Apr 2025 How it developed 25 Jul 2024 Said “target to achieve savings of c.£1.5 million per annum that will take effect from 2025” 18 Sep 2024 Said “target to achieve annual savings of c.£1.5 million with effect from 2025” 24 Feb 2025 Said “Good progress on G&A costs reduction expected to generate savings of c.£1.5 million in 2025” 29 Apr 2025 Said “Good progress on G&A costs reduction expected to generate savings of c.£1.5 million in 2025” 25 Feb 2026 ✓ Kept “Delivered material cost reduction: G&A savings of more than £2.0 million year-on-year, with further cost discipline continuing into 2026.” Result February 2026 update reported G&A savings year-on-year of more than £2.0m. “Delivered material cost reduction: G&A savings of more than £2.0 million year-on-year, with further cost discipline continuing into 2026.”25 Feb 2026 · Trading Update
H1 2025	Complete Alton land sale for £6.3m in H1 2025	12 Nov 2024	✓ Kept
	How it developed 12 Nov 2024 Said “Sale consideration £6.3m” 22 Apr 2025 ✓ Kept “successful completion of the sale of its non-core asset, the Holybourne site in Alton, Hampshire, for a consideration of £6.3 million” Result Holybourne asset sale completed 22 April 2025 for £6.3m. “successful completion of the sale of its non-core asset, the Holybourne site in Alton, Hampshire, for a consideration of £6.3 million”22 Apr 2025 · Completion of Sale of Non-core Asset
Today · 20 Oct 2026
2026
Q3 2026	Reinstate Stockbridge production via water injector conversion in Q3 2026	25 Feb 2026	✓ Kept
	“production expected to be reinstated in Q3 2026” How it developed 25 Feb 2026 Said “production expected to be reinstated in Q3 2026” 16 Sep 2026 ✓ Kept “We invested £3.2 million in our oil and gas assets in the period including on our Singleton project, the conversion of a well to a water injector at...” Result Conversion of a well to a water injector at Stockbridge was completed during H1 2026, addressing water disposal constraints mentioned in 2025 results. “We invested £3.2 million in our oil and gas assets in the period including on our Singleton project, the conversion of a well to a water injector at Stockbridge, and on smaller projects across our sites to enhance production and optimise operations.”16 Sep 2026 · Half-year Results
H2 2026	Complete sale of Croatian geothermal subsidiary IGeoPen in H2 2026	24 Apr 2026	✓ Kept
	“management will be focused on the UK business and on those areas where the Board believes the best opportunities exist to create value for shareholders” How it developed 24 Apr 2026 Said “Completion of sale: H2 2026” 14 Oct 2026 ✓ Kept “Consideration for the sale consists of two elements: a) An initial cash consideration of €1.5 million - Star Energy's share is €1.3 million reflecting the...” Result Sale to Enna Geo completed 14 October 2026 for €1.3m upfront plus earn-out. “Consideration for the sale consists of two elements: a) An initial cash consideration of €1.5 million - Star Energy's share is €1.3 million reflecting the A14 Energy shareholder agreements; and b) A financial earn-out of €0.5 million per licence”14 Oct 2026 · Completion of sale of Croatian geothermal company