Read fore more: Google price forecast/ Predication, brijesh-patel Additional details regarding the Initial Acquisition were included in Camber's and Viking's Current Reports on Form 8-K filed with the SEC on December 24, 2020 and December 28, 2020, respectively, and are available under "investors" - "SEC filings" at www.camber.energy and www.vikingenergygroup.com. Leaders are starting to outline when they will show results. These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. If you follow a company closely and would like to share your knowledge, we would love your contributions. The prediction says for February 2019. This article is meant for informational and educational purposes only and does not provide investment advice. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. On September 10th, Viking posted strong Q2 results. The larger companies tend to have access to more favorable debt financing, receive greater analyst coverage, trade with greater liquidity and consequently, often have higher share prices. The Camber Energy stock price is Sen. Eric Schmitt, R-Mo., says Republicans will hold Energy Secretary Jennifer Granholm's "feet to the fire" after committing that "no money" will flow to "countries of concern" like China. Asian paint share price target, brijesh-patel Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". Viking targets undervalued assets with realistic appreciation potential. We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. If the closing of the merger occurs (the Closing), the Viking equity holders prior to the merger will own approximately 80% of Cambers fully-diluted common stock immediately after the merger, and the Camber equity holders prior to the merger shall own approximately 20% of Cambers fully-diluted common stock immediately after the merger. Let's find out. Many are speculating that it. Although an exclusive IP license agreement between its majority-owned subsidiary, Viking Energy Group, Inc., and ESG Clean Energy, LLC, for patenting a carbon capture system should bode well for the stock, several law firms have been investigating its subsidiary for alleged breaches of fiduciary duty and other violations of law. Our proprietary rating system also evaluates each stock based on eight different categories. No Spam. All of the planned growth initiatives described above are subject to it having sufficient funding to complete such initiatives and cash on hand to support its operations and pay its debts as they become due. The two companies had previously drafted a merger agreement dated Aug. 31, 2020. Remember, this was a stock that was trading over $8 at this time last year. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's and Viking's respective filings with the Securities and Exchange Commission. Multiple local clean energy companies have landed rounds of $500 million or more recently. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. The acquisition and debt cancellation transactions, dated as of December 31, 2020 (collectively, the "Year End Transactions"), are separate from the $20.1 million transaction completed between Camber and Viking on December 23, 2020 (the "Initial Acquisition"). Furthermore, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. Database of selected U.S. and international exploration wells. With the closing of its asset acquisition in August 2016, the Company acquired estimated proved reserves of 6.3 million Boe, of which 0.2 million Bbls were crude oil reserves, 14.8 billion Bcf were natural gas reserves and 3.7 million Bbls were natural gas liquids. In order to develop the significant reserves at its disposal, the company believe that the company must become, or become part of, a larger organization with ample cash flow and greater access to capital. Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. In addition, CEI reported a $9.750 net interest loss. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Is Camber Energy Inc price going up? Camber Energy, (CEI) theunionjournal.com 2021 Stock market outlook: 'Markets are forward looking,' says Payne Capital president - The Union Yahoo Finance's Akiko Fujita and Zack Guzman speak with Ryan Payne, Payne Capital Management President, about today's market action and outlook. With the stock perking up, we expect the $1 price to be exceeded as momentum players pile into Camber Energy. $3.2 million). The Company entered into a nonbinding letter of intent in November 2017, to acquire a 95% net working interest position in 3,220 net acres in Yoakum County, Texas, within a 6,000 acre area of mutual interest (AMI) in the Permian Basin. Camber upped its stake in Viking in 2021, purchasing an additional 27.5 million Viking shares for $11 million. In terms of Value grade, the company has an F, which is reflective of its premium valuation. Both the Hunton and San Andres are carbonates with relatively high water saturations where the production profile appears to be optimized by a dewatering and depressurizing process. Aside from its deal with Viking, Camber has pursued other M&A in recent months. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) (" Camber " or the " Company ") is pleased to announce the 2023-05-01 - TotalEnergies CEO Patrick Pouyann says the company has been eying a low oil-to-gas ratio in Suriname in order to have an efficient development. can be a But the combination was delayed not due to lack of interest or desire, but because the companies needed to resolve or improve certain items, said James Doris, president and CEO of both Camber and Viking, in a March statement. Imon Ghosh All rights reserved. The net proceeds from the sale to the Company totaled $25,914. , 4 Penny Stocks on the Move: BRLL BRN CEI RLFTF, Camber Energy Inc (NYSEAMERICAN:CEI) Hoping For Better Days Ahead, PharmaCyte Biotech Climbing Back Up The Charts. Measures such as return on equity, liquidity and stock multiples have led it to conclude that the market, in general, views small-cap and mid-cap exploration and production companies as having greater potential than microcaps. Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of Insider Financial is not an investment advisor and does not provide investment advice. The companies are now awaiting further comments on Form S-4 from the SEC, which the parties anticipate being minor if any are received at all, and/or approval of the SEC to move forward with finalizing the Form S-4. Senior Staff Writer, Charlotte Business Journal. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce the completion of another deal with its majority-owned subsidiary, Viking Energy Group, Inc. (VKIN) ("Viking"), pursuant to which Camber purchased $18.9 million worth of common stock of Viking. First up, heres a little background info for those not familiar with the stock. WebCamber Energy, Inc. is an independent oil and natural gas company. The pages created by the user or by XWiki extensions on behalf of the user. 2023-05-01 - Heres a roundup of the latest E&P headlines, including a new subsea tieback beginning production in the Norwegian Sea, new contract awards and an updated agreement regarding oil spill preparedness offshore Alaska. The biggest Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Bad Weather Won't Ruin Your Vacation Anymore , Retirees Are Earning Up to $20,000 Per Month With. CEI forecast tomorrow, In addition, CEI reported a $9.750 net interest loss. Register Now and start editing! ThanksYou can refer for more: Kotak Mahindra bank Blue Hat Interactive Entertainment (BHAT) Stock Forecast, AMC Entertainment Holdings Inc (AMC) Stock Forecast, Microsoft Corporation (MSFT) Stock Forecast, Meta Platforms Inc. 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Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. The company's third initiative for growth is the acquisition of production and acreage near its existing operations. The Company is also executing on an aggressive growth strategy by building on the platform and technical capacity created by its recent asset acquisitions described below. By comparison, fossil In West Texas, the Company had 209 /2,253 (net / gross) acres. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. It engages in the acquisition, development, and sale of crude oil and natural gas from various known CEI has an overall F rating, which translates to a Strong Sell in our POWR Ratings system. This article is meant for informational and educational purposes only and does not provide investment advice. Camber Energy Inc technical analysis, Remote Work Skeptics Are Forgetting Their Most Valuable Asset: Their Customers. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. Get our PREMIUM Forecast Now, from ONLY $7.49! Although this acquisition could strengthen CEI's platform and position it for further expansion across North America, it could also increase its expenses in the near term. It engages in the acquisition, development, and sale of crude oil and natural gas from The company believe the market conditions driving it toward the need for a larger entity of greater size and financial mass are even more essential in the current environment. Camber Energy is actively conducting workovers and subject to raising the balance of the funds due in connection with the October 2017 Purchase Agreement, which is subject to certain closing conditions described herein, the Company intends to drill wells, acquire producing/non producing properties at value prices and participate in joint Additional details regarding the Year End Transactions were included in Camber's and Viking's Current Reports on Form 8-K filed with the Securities and Exchange Commission ("SEC") on January 13, 2021, and are available under "investors" - "SEC filings" at www.camber.energy and www.vikingenergygroup.com. Approximately 97% of the Central Oklahoma acreage is held by production (HBP). As a simplified explanation, dewatering occurs in formations with high water saturations, greater than 50%. $39 Million in Transactions Closed Since Dec. 23/20. When will Camber Energy Inc price drop? Should Independent oil and natural gas company Camber Energy, Inc. (. Multiple local clean energy companies have landed rounds of $500 million or more recently. Continued improvement in these rates should result in increased revenue and cash flow. , wonder full post. hedging contracts) during the quarter. February 2022 6.174 51.877 0.464 51.877 88.1 % , lolzzz look how they calculate min in .46 max 51 they r ediots cheap how is that posible, I have a question on the forecastfor CEI. Not within a year. The Camber Energy stock price may drop from 0.138 USD . The companies did not provide an estimated closing date. We intend that all forward-looking statements be subject to the safe-harbor provisions. How Does Camber Energy (CEI) Stack Up Against its Peers? The company operate and invest in areas that are known to be productive, with a reasonably established production history, in order to decrease geological and exploratory risk. Under an amended merger agreement dated April 18, a subsidiary of Camber will merge with and into Viking, with Viking surviving as a wholly owned subsidiary of Camber. Many are speculating that its planned merger withViking Energy Group is finally going to happen. Subscribe for free to our newsletters for the latest energy news. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. USD today. We are not receiving compensation for it. Furthermore, the company's net loss amounted to $13.24 million. system. However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Camber Energy, Inc., (CEI) a Nevada corporation, is an independent oil and natural gas company based in San Antonio, Texas. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. But CEI's stock had declined 10.4% in price year-to-date and 40.5% over the past six months, reflecting investor concerns over the NYSE's notification that the company did not comply with the Exchange's continued listing standards. Information on assets, buyers and sellers, deal values, and more. Viking also holds an exclusive license in Canada to a patented carbon-capture system. On November 9, 2017, the Company (through its subsidiary, Camber Permian LLC) and NFP Energy LLC (NFP), its joint venture partner, sold oil and gas properties totaling approximately 2,452 acres in Gaines County, Texas, to Fortuna Resources Permian, LLC (Fortuna), for $1,000 per acre or an aggregate of $2,206,718 payable to the Company (with $245,213 payable to NFP), pursuant to the terms of a letter agreement (the Sale Agreement) and an Assignment, Bill of Sale and Conveyance to Fortuna, both dated November 9, 2017 and effective November 1, 2017. Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. CEI forecast, One of the requirements is a $1 minimum share price for 30 days. Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. CEI stock future price, The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. The consideration for the Initial Tranche of funding was the assignment to Vantage of all of the Companys rights and ownership in its wholly-owned subsidiary Camber Permian II, LLC (Camber Permian) which included leaseholds and potential participation rights. While actively pursuing specific exploration and development activities in the Mid-Continent area, the company may not be able to close future acquisitions for a variety of reasons, new drilling opportunities may not be identified and any new drilling opportunities identified may not be successful if drilled. The monthly fee may be reduced to the extent the Company retains employees to perform certain of the functions contemplated to be performed by Enerjex. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group have finally inked an agreement to merge. One Founder's Super-Sized Side Hustle Is Helping Small Businesses and It's On Track to Generate More Than $50 Million This Year, What Thomas Edison, Sarah Michelle Gellar and T.J. Maxx Can Teach You About Savvy Entrepreneurship, 6 Time Management Hacks to Regain Your Energy, AI Could Eliminate Millions of Jobs By 2027, but Cognitive Skills Are Increasingly Important for Employers. In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. Viking issued 53,219,677 common shares in connection with the debt conversions. Its shares have jumped 68.4% in price over the past five days due to heavy discussion about it on Reddit and Twitter and the consequent bullishness of retail investors. future. The assets are expected to generate $55 million in annual gross revenue, the company said. Your adding value on me and also support me to wrote more post on my blog. Is CEI stock price going to drop? A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. Data from Fintel.io shows short interest in Camber Energy stock jumped to 24.4 million shares from 6.1 million shares in September, giving the company a 23.5% Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. It also includes material acquisitions of leasehold or production in new areas. Is Camber Energy Inc a profitable investment? For more information, please visit the company's website at www.camber.energy. After working to consummate a deal for several years, Camber Energy and Viking Energy Group have finally reached a new agreement to fully combine. Thus, we think it is best avoided now. Also, its trailing-12-month EBITDA came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. Prior to the default, CATI had not recorded interest due on the note based on its earlier agreements. Enerjex will not be responsible for any field operations, including drilling, operating or maintaining any wells or leases, of the Company under the terms of the Service Agreement. Camber Energy's efforts to go green could fuel the next big move for CEI stock April 5, 2022 By Louis Navellier and the InvestorPlace Research Staff Apr 5, Once Camber has cleared comments from the SEC on the Form S-4, the parties plan to promptly move forward with setting the record dates for their special meetings to seek stockholder approvals for the merger and other items set forth in the joint proxy statement/prospectus included in the Form S-4. Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in theGulf Coastand Mid-Continent region. Insider Financial focuses solely on short-term high probability trade opportunities. I always refer your site before writing. The effective date of the Release was December 15, 2017. Your info is never shared. The wells are operated by Vikings subsidiary, Petrodome Operating, LLC, a licensed operator in Texas,Louisiana,andMississippi, and produce hydrocarbons from known reservoirs/sands in the on-shoreGulf Coastregion, including theHackberry, Yegua, Wilcox, Amphistegina, and Robira. Camber Energy Inc analyst report, The ultimate success of each transaction will be significantly dependent upon arriving at acceptable terms and the availability of capital, which may not be available on favorable terms, if at all. Incorporated in Nevada in December 2003 under the name Panorama Investments Corp., the Company changed its name to Lucas Energy, Inc. effective June 9, 2006 and effective January 4, 2017, the Company changed its name to Camber Energy, Inc. Camber has plans to file a preliminary registration statement for the proposed deal with the U.S. Securities and Exchange Commission as the next step in the merger process. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. In August, Viking reduced its overall debt by approximately $7,808,661. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Camber believes that it has certain advantages in initiating a development program in the San Andres. Yes. Disclosure: We have no position in NYSEMKT:CEI, OTCMKTS:VKIN, or any of the securities mentioned. Instead, what leaders need to focus on is how hybrid work arrangements will serve customer needs. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions. To date, Camber and Viking have each satisfied nearly all of their respective conditions to closing the merger, provided that such merger remains subject to certain remaining conditions to closing, including, the effectiveness of the Form S-4, approval of the stockholders of each of Camber of Viking of the merger and certain of the other proposals set forth in the Joint Proxy, and approval of the NYSE American for the continued listing of Cambers common stock following the merger, which the parties anticipate requiring the combined company to re-meet the initial listing standards of the NYSE American. Are You Too Trusting? Beyond the grades I've highlighted, one can check out additional CEI ratings for Sentiment, Growth, and Momentum, While CEI has an overall F rating in our proprietary rating system, one might want to consider taking a look at its industry peers, SilverBow Resorces, Inc. (, One Company Will Pay You to Enjoy It Rain or Shine, Scheme That Caused Her to Lose Her Home of 3 Decades, 15 Best Entrepreneurial Conferences You Need to Attend, Here's How to Tell And Why It Matters. Additionally, the Company and NFP jointly terminated their venture. On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. The Vantage Agreement contained customary indemnification requirements. With the closing of the Acquisition in October 2016, the Company acquired over 13,000 net acres in producing fields located primarily in the Mid-Continent region of Oklahoma including Payne, Lincoln and Logan Counties, along with a small amount of interest in production located in Glasscock County, Texas. Camber and Viking reached another merger agreement in February 2021. After closing a long-awaited deal, a Houston-based energy company's outgoing CEO reflects on how he got the deal to the finish line and the significance of CEI prediction, In exchange for the shares of Viking, Camber agreed to issue 1,890 restricted shares of Camber's Series C Redeemable Convertible Preferred Stock to a noteholder of Viking resulting in the extinguishment of $18.9 million of debt at the Viking level. I can't understand about google price goes 000. 2023-05-01 - CEO Darren Woods discusses Exxon Mobils expansion plans in the Lower 48 and managing the energy transition in Hart Energys The OGInterview. The company's production sales totaled 158,555 barrels of oil equivalent, net to its interest, for the nine month period ended December 31, 2017. The purchase price totaled CAD3.99 million (approx. Camber, a diversified energy player with non-operated oil and gas interests and other investments, has worked to combine with Viking, a commercial and industrial energy and power services provider, since at least 2020, having already owned a majority stake. Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in the Gulf Coast and Mid-Continent region. Here's Why. Camber operations are all crude oil and natural gas exploration and production related. The Specifically, the company prefer relatively shallow (less than 10,000 feet) formations that require horizontal drilling techniques and significant surface infrastructure management, and Camber Energy is currently evaluating several opportunities to expand its asset acreage. A Psychologist Reveals 3 Signs You Should Walk Away From Someone Fast. Our alerts consist of Nasdaq, NYSE and high quality OTC companies that are capable of delivering outsized gains to you today, not a year from now. Broadly, Camber is targeting acquisitions in the southwest United States, inclusive of Oklahoma, Texas and New Mexico, which represent a vast array of oil and gas deposits. Your blog is to good for my knowledge. Camber Energy to Acquire Private Companies Oil Wells for $69 Million. Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. As the company consider producing properties, the company plan to prioritize those with cash flow returns near its current assets that can substantially improve its bottom line. Production rates should increase as well from new production which is expected to ramp up in early 2018, subsequent to the completion of drilling activities the company plan to complete in early 2018, funding permitting. On October 3, 2017, the trustee of those assets, for the benefit of the lender, sold these assets in public auction foreclosure sales which took place in Gonzales County and Karnes County, Texas. Historical Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of crude oil, natural gas, and natural gas liquids in Texas and Louisiana. While commodity prices have rebounded from their lows and service costs have declined, the drilling of new wells continues to require constant economic viability evaluation. In addition, the Company owns 1,000 net acres and operations in the emerging Horizontal San Andres play in the Central Basin Platform area of the Permian Basin (as described in greater detail below). Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. Independent oil and natural gas company Camber Energy, Inc. (CEI), which is headquartered in Houston, Tex., is focused on the acquisition, development, and sale of natural gas, crude oil, and natural gas liquids in the Cline shale and upper Wolfberry shale in Texas.

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