IN BRIEF: MetalNRG JV To Ink Pact To Buy Unnamed Oil Firm In 4 Weeks

Thu, 27th Aug 2020 18:32

MetalNRG PLC - resource investing and exploration company - Expects newly created special purpose vehicle to sign a share purchase agreement for an unnamed UK-based privately owned oil and gas operator in the next three to four weeks. Due diligence and the resulting risk assessment processes have been deemed satisfactory. Deal was delayed due to Covid-19. Special purpose vehicle is owned 50% by private investors and 50% by MetalNRG.

Current share price: 0.52 pence

Year-to-date change: down 17%

By Tapan Panchal; tapanpanchal@alliancenews.com

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