energy CEI's trailing-12-month revenue came in at $264,160 . We are not receiving compensation for it. 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 Camber Energy Takes A Giant Step Forward To 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. On September 4, 2020, Camber filed with the SEC, an amended Registration Statement on Form S-4, including a preliminary joint proxy statement relating to the planned merger, which addressed SEC comments that Camber had received on the original Form S-4 which was filed on June 4, 2020. Aside from its deal with Viking, Camber has pursued other M&A in recent months. The company's San Andres initiative is a prime example of it moving into a new area where the required expertise fits its technical capabilities. On July 17, 2017, Vantage provided $120,000 to the Company under the Vantage Note and on July 20, 2017, Vantage provided $30,000 to the Company under the Vantage Note. Bidens energy secretary makes 'important admission' over US Camber Energy Yes. Remember, this was a stock that was trading over $8 at this time last year. 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. This transaction did not close and the letter of intent was terminated. The oil and gas resides in pore spaces of conventional subsurface rock formations and is held in place by the pressurized water. Instead, what leaders need to focus on is how hybrid work arrangements will serve customer needs. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. 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, When will Camber Energy Inc price drop? At the moment, Camber Energy owns a 70% interest in the company and the latter was the buyer of that carbon-capture system license. The post Is Camber Energy a Buy Under $1? Multiple local clean energy companies have landed rounds of $500 million or more recently. However, given investor concerns related to the company's Form 10-K filing delinquency and the potential for the company to face NYSE delisting procedures, is it worth betting on the stock at the current price level? One of the requirements is a $1 minimum share price for 30 days. -89.8046%. Camber Energy Inc market prognosis, Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. The companies did not provide an estimated closing date. On May 24, 2021, Viking reported that Camber Energys first quarter ended March 31, 2021 earnings per share (EPS) of -$0.13 under generally accepted Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. Camber Energy While CEI's shares have been rallying based on retail traders' interest, news related to the company's delay in filing its Form 10-K and the NYSE's monitoring of the delays have raised investors' concerns about the stock. In terms of Value grade, the company has an F, which is reflective of its premium valuation. Also, it has an F grade for Stability. This reflects the stock's negative ROE and cash flow from operations. Viking also holds an exclusive license in Canada to a patented carbon-capture system. 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. Your info is never shared. 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. For over five years, we have provided a free service to a countless number of traders featuring only the best in the microcap arena. Many are speculating that it. Here's Why. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or subsidiaries of Viking, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. 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. The Glasscock County, Texas properties produce oil and gas primarily from the Wolfberry, Cline and Fusselman formations and are all non-operated. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Additionally, the remaining leasehold and ownership of CATI was assigned to Arkose Lease Partners, L.L.C., a third party (Arkose), pursuant to an Assignment of Membership Interest (the Assignment), dated November 1, 2017, in exchange for Arkoses assumption of all plugging and abandonment liabilities of CATI of approximately $1.8 million. 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. Adjusted EBITDA was $3.31 million for the three-month period ended June 30, 2020, as compared to $4.62 million for the three-month period ended June 30, 2019. Camber plans to work diligently to grow its operations by considering strategic acquisitions that are near the region or location of its current assets, offer attractive production and cash flow returns, and/or conform to the Companys technical proficiencies. Also refer for more: Coal India share price target. According to our analysis, this can happen. Camber Energy Inc (CEI) Stock Price Today, News, Quotes, The proceeds from the foreclosure sales of approximately $3.5 million were applied against the outstanding indebtedness. This article is not a solicitation or recommendation to buy, sell, or hold securities. We have no business relationship with any company whose stock is mentioned in this article. brijesh-patel Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. The company's trailing-12-month gross profit margin and cash from operations are negative 0.5% and $2.09 million, respectively. 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. Here are the highlights: Viking shareholders are on board with the merger. And CEI's 26.65x trailing-12-month Price/Sales is 1,770% higher than the 1.43x industry average. Camber Energy and Viking agreed to merge on February 3rd and then the COVID-19 pandemic swept across the nation. Camber Energy, Inc. Extinguishes $18.9M of Total Debt - Yahoo Are You Too Trusting? Prices for top E&P stocks and commodities. CEI expected stock price. This balanced approach can expedite growth while reducing dependence on any particular division. When will CEI price fall? Furthermore, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. WalletInvestor.com. Will Camber Energy Inc stock price fall? Currently there seems to be a trend where stocks in the Energy Mining, Quarrying, and Oil and Gas Extraction sector (s) have been popular in this period. 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. 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. Sep 7, 2021, This story originally appeared on StockNews. We are not receiving compensation for it. If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! 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. $3.2 million). How will Camber Energy Inc stock price increase? Sign Up Now For Our 100% FREE Small Cap Reports. By John Downey. , 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. 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. 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. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. How do did you get these results with a opening of 0.33 and close at 41? With the proceeds from the sale, the Company paid the 1st lien holders, including Alan Dreeben (a former director of the Company), and 2nd lien holder Vantage, thus reducing its liabilities by $1,518,924 and paid NFP $662,072 to terminate the joint venture agreement. However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. bad, high-risk 1-year investment option. 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. The Company intends to enter into an agreement with a joint venture partner within the (AMI) with the plan to initiate a drilling program on this acreage, targeting the San Andres formation, during the first half of 2018, subject to the transaction closing by year end. Is CEI stock price going to drop? CEI stock price prediction, stock price predictions may be different due to the different analyzed time series. On January 3, 2017, Camber entered into a Lease Acquisition and Participation Agreement (Acquisition) with a privately held, Houston, Texas-based oil and gas holding company (Partner) whereby the company acquired a leasehold position in the Permian Basin in Texas, consisting of 16,300 gross, 3,600 net, mineral acres in consideration for $1.43 million, and formed an area of mutual interest (the Jackrabbit project).
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