Star Energy Group Plc Provides Positive Trading Update
Why we think this is good
The trading update from Star Energy Group Plc is generally positive, with production remaining in line with guidance, a strong financial position, and progress on the company's geothermal expansion plans. While there are no explicit profit upgrades or statements about trading significantly ahead of expectations, the overall tone and content of the update suggest the company is performing well and executing on its strategic priorities.
Key Points
- Production remains in line with full year guidance
- Strong cash position with £10.5m in balances
- On track to repay €6.7m debt facility by June 2025
- Expanding UK geothermal pipeline with new MoUs
- Maturing Croatia geothermal portfolio
Summary
The energy company reports stable production, a healthy financial position, and progress on its geothermal growth initiatives.
Star Energy Group Plc (AIM: STAR) has provided a positive trading update ahead of its Annual General Meeting. Key highlights include:
- Production remains in line with full year guidance at c. 2,000 boepd
- Strong cash position, with £10.5m in cash balances and on track to repay €6.7m debt facility by June 2025
- Continued expansion of UK geothermal pipeline, with MoUs signed with Bring Energy and Veolia
- Croatia geothermal portfolio being matured through technical de-risking and establishment of exploitation field
Key Dates
30 June 2025
Repayment of Facility A (€6.7m)
June 2025
Signing of MoUs with Bring Energy and Veolia for UK geothermal projects
GENERAL UPDATE