Vikings 2019 results, as well as its recent hedging activities, have already proved more favorable than expected. Camber operations are all crude oil and natural gas exploration and production related. 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. We are pleased to have the unanimous support from the members of the board of directors of each company to take these next steps, and believe combining Camber's national stock exchange platform with Viking's diversified portfolio of innovative technologies and other important energy-related initiatives will be a significant benefit to all stakeholders and allow the organization to more efficiently execute its growth strategy, Doris said at the time. 281.404.4387 (ext.3)E. ir@camber.energy, View source version on accesswire.com: https://www.accesswire.com/624268/Camber-Energy-Inc-Extinguishes-189M-of-Total-Debt, https://www.accesswire.com/624268/Camber-Energy-Inc-Extinguishes-189M-of-Total-Debt, Asia Stocks Rise on Hong Kong; Traders Wait on Fed: Markets Wrap, Factbox-Long-serving Qantas executive Vanessa Hudson named as next CEO, Oil Holds Loss Amid Concerns Over Chinese Demand, Banking Woes, Japan, South Korea hold first finance leaders' meeting in 7 years, Milken Latest: Saudis Look to Diversify Economy Beyond Just Oil. The company owns oil and gas leases inTexas,Louisiana,Mississippi, and Kansas. See above. This article is meant for informational and educational purposes only and does not provide investment advice. Insider Financial is not an investment advisor and does not provide investment advice. The pages created by the user or by XWiki extensions on behalf of the user. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. Also, CEI's trailing-12-month asset turnover ratio of 0.01% is 96.5% lower than the 0.4% industry average. Camber Energy is trading in a confirmed downtrend with the most recent lower low made on Oct. 6 at 86 cents and the most recent lower high of $2.45 made on Oct. 8. 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. 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. 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. 2023-04-30 - A bevy of projects in the Middle East promises a boom in future revenues for SLB, Baker Hughes and Halliburton. I can't understand about google price goes 000. 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. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. As a simplified explanation, dewatering occurs in formations with high water saturations, greater than 50%. 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"). This site is funded and maintained by Fintel.io. came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. If you are looking for stocks with good return, Camber Energy Inc stock 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. Many are speculating that it. I always refer your site before writing. 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 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. Thus, we think it is best avoided now. 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. We wrote this article ourselves and it expresses our own opinions. Your adding value on me and also support me to wrote more post on my blog. Question Box: Also refer for more: Coal India share price target. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. While there's a widely-held belief that three days a week in the office is the magic number, with a number of large companies adopting it, it's a fundamentally flawed approach. Viking targets undervalued assets with realistic appreciation potential. 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. (SBOW) and Baytex Energy Corp. (BTEGF), which have an A (Strong Buy) rating. Is Camber Energy Inc a profitable investment? When will CEI stock price go down? Between Vikings operational performance, the combined security of the hedging program, and Cambers potential liquidity, we believe the merged company will be positioned for growth following the Merger.. index on US Stock Market : At Walletinvestor.com we predict future values with technical analysis for wide According to our analysis, this can happen. Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. 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. -89.8046%. The Camber Energy stock price is The company intend to expand its footprint in the Central Basin Platform and with a JV partner, begin drilling in this area during end 2018, funding permitting. We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. Of the 92 stocks in the C-rated Energy Oil & Gas industry, CEI is ranked last. Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. Additionally, the Company and NFP jointly terminated their venture. 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. Yes. Camber Energy to Acquire Private Companies Oil Wells for $69 Million. Enerjex will receive a fee of $150,000 per month for services rendered, plus any pre-approved out of pocket travel expenses. Here's Why. The company's primary value drivers are its reserves which must be developed to unlock their full potential. Prior to the default, CATI had not recorded interest due on the note based on its earlier agreements. The transaction included working interests in about 169 producing wells averaging around 2,000 net bbl/d of oil, as well as non-producing wells and proved, undeveloped locations. The cure period on the Rogers Loan expired on September 11, 2017, and as of such date, all principal, interest and unpaid costs thereunder were immediately due and payable (which totaled approximately $9.4 million as of the date of acceleration which amount included $2.1 million of default interest). In January, Camber agreed to acquire a 100% interest in companies developing a renewable diesel processing plant. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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 This article is not a solicitation or recommendation to buy, sell, or hold securities. As of December 31, 2017, the Company had leasehold interests (working interests) covering approximately 13,776 net acres underlying a total of 56,436 gross acres in its two core regions, Central Oklahoma and West Texas. 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. 2023 Hart Energy. 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. 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. Will CEI stock price rise? Will Camber Energy Inc stock price fall? Approximately 97% of the Central Oklahoma acreage is held by production (HBP). WebAccording to present data Camber Energy's CEI shares and potentially its market environment have been in a bullish cycle in the last 12 months (if exists). Independent oil and natural gas company Camber Energy, Inc. (CEI), which is headquartered in Houston, Tex., is focused on the acquisition, development, and sale Independent oil and natural gas company Camber Energy, Inc. (. Net Loss was($17.67million), as compared to net income of $1.29 million in Q-2 2019, the majority of which is attributable to a change in the fair value of the Companys derivates (i.e. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. The Camber Energy stock price may drop from Insider Financial focuses solely on short-term high probability trade opportunities. A searchable database of oil and gas debt and equity offerings. 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. 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. Viking targets undervalued assets with realistic appreciation potential. Let's find out. 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. 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). The purchase price totaled CAD3.99 million (approx. WebOVERVIEW. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. 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. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. Camber Energy is engaged in the acquisition, development and sale of crude oil, natural gas and natural gas liquids from various known productive geological formations, including from the Hunton formation in Lincoln, Logan and Payne Counties, in central Oklahoma; the Cline shale and upper Wolfberry shale in Glasscock County, Texas; and recently in connection with its entry into the Horizontal San Andres play on the Central Basin Platform of the Permian Basin in West Texas announced on January 3, 2017. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. Leaders are starting to outline when they will show results. Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. $3.2 million). Furthermore, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. It engages in the acquisition, development, and sale of crude oil and natural gas from 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. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group have finally inked an agreement to merge. Multiple local clean energy companies have landed rounds of $500 million or more recently. The two companies had previously drafted a merger agreement dated Aug. 31, 2020. Also refer for more: Coal India share price target. In West Texas, the Company had 209 /2,253 (net / gross) acres. 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. Continued improvement in these rates should result in increased revenue and cash flow. brijesh-patel A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. While CEI has been taking steps to complete the accounting to file the Form 10-K, if it fails to cure the filing delinquency within the given cure period, NYSE could suspend and delist it. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. Multiple local clean energy companies have landed rounds of $500 million or more recently. The net proceeds from the sale to the Company totaled $25,914. WalletInvestor.com. With the stock perking up, we expect the $1 price to be exceeded as momentum players pile into Camber Energy. Doris will serve as president and CEO of the combined company following the merger, per the new agreement. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) (" Camber " or the " Company ") is pleased to announce the Information on assets, buyers and sellers, deal values, and more. Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. If you follow a company closely and would like to share your knowledge, we would love your contributions. On December 15, 2017, CATI entered into a Release of Mortgage, Deed of Trust, Assignment, Security Agreement, Financing Statement and Fixture Filing (the Release) with Rogers. The company disclosed that it could not file the report due to delays in putting together the financial information required to be reviewed by the auditor and finalizing the accounting of certain transactions. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or This article is not a solicitation or recommendation to buy, sell, or hold securities. Contact InformationInvestors and Media:Tel. The company's third initiative for growth is the acquisition of production and acreage near its existing operations. For more information, please visit the company's website at www.camber.energy. If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! I always refer your site before writing. 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. Furthermore, the company's poor cash balance and negative profit margin are not in sync with its stock's current valuation. 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. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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. Always do your own research and make your own investment decisions. 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. CEI expected stock price. Best Camber Energy Inc forecast, 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% 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. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. CEI - Camber Energy Inc Stock quote - CNNMoney.com Markets 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. We are not receiving compensation for it. future. On August 2, 2017, and effective June 13, 2017, the Company entered into an agreement with Vantage Fund, LLC (Vantage and the Vantage Agreement), pursuant to which Vantage agreed to provide up to $6 million of funding to the Company, in the sole discretion of Vantage, with $400,000 provided in the initial tranche (the Initial Tranche). Also, its trailing-12-month. In terms of Value grade, the company has an F, which is reflective of its premium valuation. Sign Up Now For Our 100% FREE Small Cap Reports. Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. Below you will find the stock price predictions for 2023, 2024. 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. Remember, this was a stock that was trading over $8 at this time last year. The effective date of the Release was December 15, 2017. Camber Energy Inc real time quote is equal Camber Energy Inc finance tips, First up, heres a little background info for those not familiar with the stock. 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. 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. WebCamber Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids in WebCamber Energy, Inc. is an independent oil and natural gas company. Furthermore, the company's net loss amounted to $13.24 million. 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 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. In Central Oklahoma the Company had 13,567 / 55,247 (net / gross) acres, most of which was acquired pursuant to the Acquisition (defined under Liquidity and Going Concern Consideration). Get our PREMIUM Forecast Now, from ONLY $7.49! Database of selected U.S. and international exploration wells. The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. Our proprietary rating system also evaluates each stock based on eight different categories. For more information, please visit the company's website at www.camber.energy. Camber Energy Inc analyst report, WebCamber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. How Does Camber Energy (CEI) Stack Up Against its Peers? Camber Energy Inc stock forecast, 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. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. Always do your own research and make your own investment decisions. 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. This balanced approach can expedite growth while reducing dependence on any particular division. Help us improve our free forecast service with share! Adjusted EBITDA for the six-month period ending June 30, 2020, was $10.05 million, as compared to $10.34 million for the six-month period ending June 30, 2019. 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. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Should the deal go through as amended, Viking shareholders would receive one share of Camber common stock in exchange for each share of Viking common stock, the companies said in an April 19 statement. This concept is now being used throughout the Mid-Continent to produce large quantities of oil and gas, and has recently been applied with increasing success to the San Andres formation in West Texas. CEI's trailing-12-month revenue came in at $264,160 . 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 ventures with industry partners with the goal of enhancing production and cash flow. Unsubscribe anytime. Leaders are starting to outline when they will show results. 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. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. For over five years, we have provided a free service to a countless number of traders featuring only the best in the microcap arena. * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts