MetalNRG PLC - Oil and Gas Exclusivity Agreement Update
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO
(The "Company" or "
Oil & Gas Exclusivity Agreement Update
The purpose of the exclusivity agreement is to give a period of exclusivity to
Progress has been made with the due diligence process and the findings from our work to date are in line with our strategy, to seek projects that offer low acquisition costs, early stage cashflow generation and upside exploration opportunity.
We have appointed a global independent oil and gas consultancy to supply us with independently verified resource estimates.
Alongside the due diligence process, we have been assessing a number of financing solutions for the transaction. In particular, we have made progress with a debt development package, which we believe to be the optimal way to fund the current transaction.
In order to allow completion of the ongoing processes we have agreed with the Vendor an extension of the exclusivity period up to the end of
For further information, please contact:
| || |
+44 (0) 20 7796 9060
Joint Broker PETERHOUSE CAPITAL LIMITED -
+44 (0) 20 7469 0930
Joint Broker SI CAPITAL-
+44 (0) 1483 413500
This information is provided by RNS, the news service of the
Quick facts: MetalNRG
Market Cap: £1.98 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE