Star Energy has appointed an energy executive with a background in renewables to its board.

In a statement to investors today, the company said Aneliya Erdly would become an independent non-exuective director with immediate effect.

Star Energy, which changed its name from IGas earlier this year, said Ms Erdly had worked on solar, wind, hydro, landfill gas, storage and biomass projects.

She is currently a strategic advisor to NTR plc, a fund manager investing in renewables in Europe and the US.

Star Energy announced in August 2023 that it had taken a majority stake in a geothermal licence in northern Croatia. A rig was mobilised last week to re-enter an existing well to test for geothermal potential..

The company also has interests in geothermal projects in the UK in Stoke-on-Trent, Manchester and Salisbury.

Ms Erdly said today Star Energy had made “serious progress in its energy transition ambitions”.

“Its existing business provides operational skill sets that are very much in demand by capital providers focussed on building geothermal portfolios. I look forward to supporting them as they drive this forward in earnest.”

Star Energy said another non-executive director appointment was “expected shortly”.

Trading update

Star Energy operates more than 20 onshore UK producing oilfields and one gasfield.

Last week, Star Energy said it expected to meet its full year production target of about 2,090 barrels of oil equivalent per day (boepd).

A short statement to investors said:

“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 at 30 November 2023 were £2.9m with a debt of £2.6m, the company said.

Board update 20 December

Star Energy announced it had also appointed Anthony White to the board.

A statement said he had more than 35 years of experience in international power markets and low carbon economy. He is currently a non-executive director of Green Energy Options and the Triple Point Energy Transition Trust. He was previously head of strategy for National Grid in the 1990s and in the 2000s helped shape policy on UK government advisory bodies.