Barrel Energy, Inc. (OTCPK:BRLL) signed a Memorandum of Understanding with Roshan Energy Technologies Pvt. Ltd. on February 9, 2021. Under the arrangement, the Company would acquire a majority stake in Roshan Energy. This Memorandum of Understanding shall become effective upon signature by the authorized offices from Barrel and Roshan Energy. The parties set forth their understandings under Memorandum of Understanding with respect to the duties and general terms of the future Definitive Agreement. The Memorandum of Understanding will remain in effect until modified, replaced by a Definitive Agreement or terminated by mutual consent. Barrel Energy will represent on Roshan Energy’s Board of Directors. Barrel would assist Roshan Energy in arranging financing to build lithium battery manufacturing facility in India.