Sunswept Enterprise News Today : Breaking News, Live Updates & Top Stories | Vimarsana

 
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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