Huge asset for £2m mkt cap17 Feb 2020 11:15
MetalNRG PLC (LON:MNRG) said on Thursday that the exclusivity period with regards to its acquisition of a majority stake in a Romanian company that owns the rights to an oil and gas concession for the next fifteen years has commenced and will run until 28 February 2020.
In a statement, the London main market-listed natural resource investing and exploration company noted that the process is ongoing per plan and initial indications, mainly from its site visit, are encouraging and suggest that the transaction could, based on current operational assumptions, meet the group’s investment criteria.