Star Energy Group plc has provided a trading update, stating that it remains on track to achieve its full-year production target of approximately 2,090 barrels of oil equivalent per day (boepd). The company has reported strong uptime across its portfolio and has seen positive results from workovers at Singleton. Additionally, a program of well optimization and stimulation has resulted in an additional production of around 50 boepd over the year. As of November 30, 2023, the company's cash balances were £2.9 million, with net debt of £2.6 million.
The technical information contained in the announcement has been reviewed and approved by Marie Dransfield, the Technical Director of Star Energy Group plc. Mrs. Dransfield has 19 years of experience in oil and gas exploration and production.
For further information, interested parties can contact Star Energy Group plc directly. The company's Chief Executive Officer, Chris Hopkinson, and Chief of Staff, Ann-marie Wilkinson, can be reached at +44 (0)20 7993 9899. Investec Bank plc and Canaccord Genuity are the company's NOMAD and Joint Corporate Brokers, respectively, and can be contacted at +44 (0)20 7597 5970 and +44 (0)20 7523 8000. Vigo Consulting can be reached at +44 (0)20 7390 0230.
This news was supplied by Euroland.com.