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 GBP2.9 million with net debt of GBP2.6 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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(END) Dow Jones Newswires

December 14, 2023 02:00 ET (07:00 GMT)

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