STAR ENERGY GROUP PLC (STAR) — Trading update

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to the STAR ENERGY GROUP PLC investor presentation. Throughout this recorded meeting, investors will be in listen only mode. Questions are encouraged and can be submitted anytime using q and a tab situated on the right hand corner of your screen. Just click q and a, type your question, and press send. Company may not be in a position to answer every question it receives during the meeting itself, and the company can review all questions submitted today and publish responses where appropriate to do so. Before we begin, we'd like to submit the following poll. I would now like to hand you over to Ross Glover, Chief Executive Officer. Good morning. Good morning, everybody, and thank you very much for attending our trading updates this morning. I'm joined by Francis Ward, our Chief Financial Officer. Good morning, everyone. And we will take you through a slide deck that we have. So I think just to start, STAR ENERGY, as we or as you're aware, we're an energy business playing in the sort of energy transition space. We've got very strong cash flows from our producing oil and gas assets, very low well, I said low risk low well, there's no exploration or appraisal risk within those assets, and they're very long life assets producing out into the twenty fifties. As well as that, we've got a very high growth potential in geothermal, and that's both in The UK where it's all about decarbonizing heat and in Croatia where it where that is a power generation play. Just to be clear on our corporate strategy, we have limited growth opportunities within our oil and gas business. That business is going to be managed for value optimization with a real focus on increasing the profitability of that business. Material growth within our business will come from our geoth...