Star Energy have released a trading update ahead of their AGM, confirming production remains in line with full year guidance at c.2,000 boepd. A mix of new hedges have been added for H2 25 and FY 26 providing some stability amidst the volatility in current oil prices. Cash at the end of May was £10.5m and the company remains on track to repay its Facility A loan of €6.7m by the end of June, and capex guidance for the year has been reiterated at c.£10m. Meanwhile, the company continues to progress its geothermal business in the UK and Croatia, having announced MoUs with Veolia and Bring energy in the former in recent months. This is a steady update from Star as they continue to deliver on their announced targets for the year with regards the oil and gas business and continue to grow the geothermal business.
