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Investegate |MetalNRG PLC Announcements | MetalNRG PLC: Posting of Annual Report and Notice of AGM


Posting of Annual Report & Financial Statements and Notice of Annual General Meeting
MetalNRG plc (LON:MNRG), the natural resource investing and exploration company,
announces that, further to the announcement of final results for the year ended 31
st December 2020, published on 30
th April 2021, ( Final Results ), the Company s Annual Report and Financial Statements has been published and posted to Shareholders. The Financial Statements for the year ended 31
st December 2020 contained in the Annual Report contain no changes to the Final Results.
 
In the Final Results announcement, it was stated that the Company s Annual General Meeting ( AGM ) would be held on 8
th June 2021.  MetalNRG announces that this date has changed and the AGM will now be held at 12.00 pm on Friday, 25 ....

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Investegate |MetalNRG PLC Announcements | MetalNRG PLC: Oil & Gas Transaction Completion


 
MetalNRG plc (LON:MNRG), the natural resource investing and exploration company, announces that it has received confirmation from the Oil & Gas Authority ( OGA ) that it does not oppose the change of control of Sunswept Enterprise Limited and associated subsidiaries to BritNRG Limited ( BritNRG ), the special purpose vehicle created for the acquisition.
As a result, BritNRG has now completed the transaction as announced on 9
th October 2020 and has acquired 100% of Sunswept Enterprises Limited and related assets.
Following completion of the acquisition and at current modest production levels, Sunswept is expected to be net cashflow positive at Brent prices sub $40/bbl, which is significantly below the current Brent price. A reduction of the breakeven oil price reference is expected as production levels are restored by bringing the Whisby #6 Well back on stream (by a wax removal workover) possibly within Q1/2021. Further reductions and a ....

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