Source - Alliance News

Star Energy Group PLC - London-based onshore energy company, formerly known as Igas Energy PLC - For the six months to June 30, reports that revenue fell 22% to £23.8 million from £30.5 million a year prior. Pretax profit declined 32% to £4.2 million from £6.2 million, while basic earnings per share declined to 0.42 pence from 15.45p.

Chief Executive Officer Chris Hopkinson says: ‘We have delivered a strong operating performance in the first half with average net production of 2,071 barrels of oil equivalent per day compared to 1,865 in 2022.’

He adds: ‘Maximising returns from our conventional oil and gas business remains a key focus for us, given its free cash generation, particularly with improving commodity prices.’

Current stock price: 9.16 pence

12-month change: down 90%

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