This article is meant for informational and educational purposes only and does not provide investment advice. This site is funded and maintained by Fintel.io. The company's primary value drivers are its reserves which must be developed to unlock their full potential. Since closing the acquisition of the Segundo Hunton dewatering assets in August 2016, the Company has sought an opportunity to expand its dewatering expertise to another productive formation. One of the requirements is a $1 minimum share price for 30 days. 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. Remember, this was a stock that was trading over $8 at this time last year. The Camber Energy stock price may drop from Leaders are starting to outline when they will show results. $39 Million in Transactions Closed Since Dec. 23/20. 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. The assets are expected to generate $55 million in annual gross revenue, the company said. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. The company owns oil and gas leases inTexas,Louisiana,Mississippi, and Kansas. In this article, we take a look at Camber Energy and the risk/reward opportunity. The company was formerly known as Lucas Energy. WebOVERVIEW. 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. Sign Up Now For Our 100% FREE Small Cap Reports. As of the end of 2022, Camber owned approximately 60.9% of Vikings outstanding common shares, according to regulatory filings. 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). CEI expected stock price. 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. 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. CEI's trailing-12-month revenue came in at $264,160 . A Psychologist Reveals 3 Signs You Should Walk Away From Someone Fast. 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. The company's third initiative for growth is the acquisition of production and acreage near its existing operations. Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. Camber Energy Probability Of Bankruptcy - (NYSE MKT:CEI) The San Andres formation, the target of its most recent purchase, is found at relatively shallow depths (4,500) and has similar attributes to the Companys dewatering Hunton play in Oklahoma. Furthermore, the company's poor cash balance and negative profit margin are not in sync with its stock's current valuation. Not within a year. In May, CEI was notified by the NYSE American that it failed to file its Form 10-K in a timely manner for the nine months ended December 31, 2020, and therefore was not in compliance with the Exchange's listing standards. 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. Imon Ghosh For more information, please visit the company's website at www.camber.energy. Furthermore, the company's net loss amounted to $13.24 million. Camber Energy, Viking Reach New Agreement to Merge In January, Camber agreed to acquire a 100% interest in companies developing a renewable diesel processing plant. By John Downey. This article is meant for informational and educational purposes only and does not provide investment advice. First up, heres a little background info for those not familiar with the stock. Camber Energy has recently made significant strides in improving production from its existing fields where its barrel of oil equivalent per day rates have risen from 850 barrels of oil equivalent per day (Boe/d) in September 2016, its first month of operating the Oklahoma property, to a December 2016 rate of 1,054 Boe/d. Here's what could influence CEI's performance in the near term: Last month, CEI announced the acquisition of a 60.5% interest in Simson-Maxwell Ltd., a leading manufacturer and supplier of industrial engines and other energy solutions, through its majority-owned subsidiary. Multiple local clean energy companies have landed rounds of $500 million or more recently. 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. Currently trading at less than $1, shares of diversified energy and power solutions company Camber Energy have been rallying thanks to recent social m By Subscribe for free to our newsletters for the latest energy news. 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. Short-term and long-term CEI (Camber Energy Inc) $3.2 million). In September 2017, Rogers foreclosed on the assets of CATI which secured the note. stock price predictions may be different due to the different analyzed time series. 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. Camber Energy Remains a Promising Way to Play the These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Enerjex will receive a fee of $150,000 per month for services rendered, plus any pre-approved out of pocket travel expenses. 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. energy In August, Viking reduced its overall debt by approximately $7,808,661. 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. wrote this article ourselves and it expresses our own opinions. Database of selected U.S. and international exploration wells. Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. 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. The company seek to create a growth company capable of delivering on the long-expected conversion of reserves to production, continued long-term acreage development, and sustainable shareholder value. future. All rights reserved. The net proceeds from the sale to the Company totaled $25,914. Through one of its subsidiaries, Ichor Energy, LLC, Viking owns a working interest in approximately 58 conventional, producing oil and gas wells inTexasandLouisiana and an interest in more than 30 Salt Water Disposal Wells. Also, its trailing-12-month. Camber Energy Flirts With NYSE American Delisting wonder full post. brijesh-patel Camber Energy Your blog is to good for my knowledge. can be a Aside from its deal with Viking, Camber has pursued other M&A in recent months. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group have finally inked an agreement to merge. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, Vikings 2019 results, as well as its recent hedging activities, have already proved more favorable than expected. How Does Camber Energy (CEI) Stack Up Against its Peers? Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. Independent oil and natural gas company Camber Energy, Inc. (. Also, it has an F grade for Stability. 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. 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. Cambers income comes from Viking Energy Group, a small oil-and-gas driller it bought in early 2021. 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. 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). On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. 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. 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, 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 The company's trailing-12-month gross profit margin and cash from operations are negative 0.5% and $2.09 million, respectively. 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. 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. 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. Is Camber Energy Inc a profitable investment? This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. Includes modified extension pages (usually configuration pages). Historical Many are speculating that its planned merger withViking Energy Group is finally going to happen. Will CEI price go up? Viking also holds an exclusive license in Canada to a patented carbon-capture system. Thus, we think it is best avoided now. We are not receiving compensation for it. Under the terms of the Service Agreement, Enerjex will be responsible for performing all back-office services for the Company, including all data entry and bookkeeping, financial reporting, management reporting, reserve reporting, SEC compliance, audits, filings, and any other services required to maintain the Companys good standing with all local, state, and federal laws. Doris will serve as president and CEO of the combined company following the merger, per the new agreement. Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. On May 1, 2017, the Company entered into a service agreement (the Service Agreement), with Enerjex Resources (Enerjex) to outsource the management of its back-office functions for a fixed monthly fee. 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). CEI stock future price, 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 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. 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. Currently trading at less than $1, shares of diversified energy and power solutions company Camber Energy have been rallying thanks to recent social media chatter surrounding the stock. 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 majority stake. Energy The goal is to re-meet the initial listing standards of the NYSE American. Texas Energy Going Solar Brings GOP Backlash - Bloomberg Once that happens, shareholders can vote and the merger will be completed. Your info is never shared. When will CEI price fall? Here are the highlights: Viking shareholders are on board with the merger. Is Camber Energy Inc price going up? This balanced approach can expedite growth while reducing dependence on any particular division. The effective date of the Release was December 15, 2017. selection of stocks like Camber Energy Inc. Camber upped its stake in Viking in 2021, purchasing an additional 27.5 million Viking shares for $11 million. We intend that all forward-looking statements be subject to the safe-harbor provisions. Camber operations are all crude oil and natural gas exploration and production related. 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. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) (" Camber " or the " Company ") is pleased to announce the Contact InformationInvestors and Media:Tel. 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.. The prediction says for February 2019. It engages in the acquisition, development, and sale of crude oil and natural gas from various known Yes. 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. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. 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. Camber Energy Inc stock forecast, Approximately $1,705,982 of such reduction was on account of scheduled principal payments made on or about June 30th and July 31st by Vikings subsidiaries under senior secured credit facilities, using cash on hand in the applicable subsidiary. The biggest WebCamber Energy, Inc. is an independent oil and natural gas company. As of December 31, 2017, Camber was producing an average of approximately 869 net barrels of oil equivalent per day (Boepd) from over 100 active well bores. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. Closing yesterday's session at $0.83, the stock is trading 73.3% below its 52-week price high of $3.10. 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. 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. Camber Energy (CEI) Stock Forecast, Price & News CEI stock price predictions 2023, When will Camber Energy Inc price drop? Disclosure: We have no position in NYSEMKT:CEI, OTCMKTS:VKIN, or any of the securities mentioned. CEI's trailing-12-month revenue came in at $264,160 . 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. What Happened In Camber Energy Stock (CEI)? 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. 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, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. When will CEI stock price go down? In addition, CEI reported a $9.750 net interest loss. 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. CEI forecast, 1.350 This article is not a solicitation or recommendation to buy, sell, or hold securities. #Camberenergy - Twitter Search / Twitter Camber Energy, Inc. is an independent oil and natural gas company. As a result of the default, demand and acceleration, CATI recorded the default interest demand of $2.1 million in the three month period ended December 31, 2017. It also includes material acquisitions of leasehold or production in new areas. Camber Energy Inc market prognosis, Oil prices collapsed and lockdowns drove the US economy to halt. Leaders are starting to outline when they will show results. After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. Asian paint share price target, brijesh-patel The proceeds from the foreclosure sales of approximately $3.5 million were applied against the outstanding indebtedness. Camber purchased interests in oil and gas assets from private operators for $69 million late last year. She began her career at Kantar IMRB, a leading market research and consumer consulting organization. Approximately 72% of Boe was proved producing. CEI forecast tomorrow, And CEI's 26.65x trailing-12-month Price/Sales is 1,770% higher than the 1.43x industry average. 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. 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. system. 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. 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. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. appeared first on StockNews.com. Are You Too Trusting? If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! 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% The Mid-Continent assets produce from a liquids-rich, gas reservoir known as the Hunton formation. Below you will find the stock price predictions for 2023, 2024. Camber Energy Discloses Receipt of Notice From NYSE Copyright 2023 Entrepreneur Media, Inc. All rights reserved. hedging contracts) during the quarter. - Try Now Risk-Free - Money-back guarantee! Camber Energy Inc technical analysis, Here's Why. 0.138 USD . energy A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. Approximately $6,102,679 of the reduction was achieved, through a series of separate transactions, via the conversion of all or a portion of amounts owing by the Company to certain stakeholders into common stock in the capital of Viking. 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. This reflects the stock's negative ROE and cash flow from operations. About - Camber Energy 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. See above. The Company maintains a 90% ownership position in the remaining 1,100 acres in the area. Camber and Viking reached another merger agreement in February 2021. How do did you get these results with a opening of 0.33 and close at 41? CEI stock price prediction, 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. Before the run-up in oil prices Viking was a classic dead Insider Financial is not an investment advisor and does not provide investment advice. 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. It engages in the acquisition, development, and sale of crude oil and natural gas from 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. Information on assets, buyers and sellers, deal values, and more. Revenues were$9.55million as compared to $8.73 million in Q-2 2019. Viking issued 53,219,677 common shares in connection with the debt conversions. 1.350 USD to Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. If you are looking for stocks with good return, Camber Energy Inc stock I always refer your site before writing. Your adding value on me and also support me to wrote more post on my blog.