Star Energy’s interim results have seen net production at 1,894 boepd for the half, and full year guidance at c.2,000 boepd has been reiterated. Production has driven £18.3m of revenue and an adjusted EBITDA of £4.5m, with a positive operating cashflow. Cash at the end the period end was £4.3m, with net debt reduced to £2.7m. The company continues to progress its geothermal business in the UK several new MoUs signed during the period. In Croatia, progress continues with a conceptual field development plan being compiled for submission and the aim of moving the Ernestinovo licence towards its exploitation phase in Q1 2026. This is a solid update from Star who continue to progress their geothermal business whilst maintaining cashflows from their existing oil and gas business against a difficult backdrop.
