REG - Star Energy Group - Trading Update

Star EnergyAnnouncement

14/12/2023 07:00

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RNS Number : 6975W  Star Energy Group PLC  14 December 2023

14 December 2023

Star Energy Group plc

("Star Energy" or "the Company" or "the Group")

 

Trading Update

Star Energy (AIM:STAR) today provides the following operations update.

The Company remains on track to deliver its full year production target,
expected to be c. 2,090 boepd. Uptime across the portfolio has remained strong
with good results from workovers at Singleton and a rolling programme of well
optimisation and stimulation that has yielded additional production equal to
c. 50 boepd over this year.

Cash balances as at 30 November 2023 were £2.9 million with net debt of £2.6
million.

 

Qualified Person's Statement

 

Marie Dransfield, Technical Director of Star Energy Group plc, and a qualified
person as defined in the Guidance Note for Mining, Oil and Gas Companies, June
2009 as updated 21 July 2019, of the London Stock Exchange, has reviewed and
approved the technical information contained in this announcement. Mrs
Dransfield has 19 years' oil and gas exploration and production experience.

For further information please contact:

Star Energy Group plc
                                      Tel: +44 (0)20 7993
9899

Chris Hopkinson, Chief Executive Officer

Ann-marie Wilkinson, Chief of Staff

 

Investec Bank plc (NOMAD and Joint Corporate Broker)
              Tel: +44 (0)20 7597 5970

Virginia Bull/Chris Sim/Charles Craven

 

Canaccord Genuity (Joint Corporate Broker)
                                    Tel:
+44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

 

Vigo Consulting
                                                                        Tel:
+44 (0)20 7390 0230

Patrick d'Ancona/Finlay Thomson/Kendall Hill

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