Trading Update

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: [phone]

Chris Hopkinson, Chief Executive Officer

Ann-marie Wilkinson, Chief of Staff

Investec Bank plc (NOMAD and Joint Corporate Broker)               Tel: [phone]

Virginia Bull/Chris Sim/Charles Craven

Canaccord Genuity (Joint Corporate Broker)                                     Tel: [phone]

Henry Fitzgerald-O'Connor/James Asensio

Vigo Consulting                                                                                        Tel: [phone]

Patrick d'Ancona/Finlay Thomson/Kendall Hill

 

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