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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. Database of selected U.S. and international exploration wells. Note: Because of the historical price data of CEI (with very high volatility), the technical analysis and stock price prediction may be unrealistic! Camber Energy Inc stock forecast, The Camber Energy stock price may drop from 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 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. The Furthermore, the company's net loss amounted to $13.24 million. Contact InformationInvestors and Media:Tel. The purchase price totaled CAD3.99 million (approx. I always refer your site before writing. Furthermore, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. 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 I can't understand about google price goes 000. 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. 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. Also, CEI's trailing-12-month asset turnover ratio of 0.01% is 96.5% lower than the 0.4% industry average. By comparison, fossil Sep 7, 2021, This story originally appeared on StockNews. We are not receiving compensation for it. Rextag database of energy infrastructure assets. 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. 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. to 1.350 USD at 2023-05-02, but your current investment may be devalued in the According to our analysis, this can happen. We have no business relationship with any company whose stock is mentioned in this article. ), 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 you follow a company closely and would like to share your knowledge, we would love your contributions. 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. Vantage was granted a second lien on the Jackrabbit property in connection with the financing. 2023-05-01 - Manuela Molina is succeeding Francisco Leon as California Resources Corp.s new CFO following Leons appointment to CEO. CEI forecast, 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. Short-term and long-term CEI (Camber Energy Inc) 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. Pursuant to the Release, the Company completed a transaction in which CATI provided Rogers, pursuant to an Assignment of Overriding Royalty Interest (the Royalty Assignment), with an overriding royalty (equal to 0.01 of 8/8ths of all oil and gas) on CATIs remaining leasehold and Rogers released CATI from all remaining indebtedness owed. After working to consummate a deal for several years, Camber Energy and Viking Energy Group have finally reached a new agreement to fully combine. The company's primary value drivers are its reserves which must be developed to unlock their full potential. 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. 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 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. The effective date of the Release was December 15, 2017. -89.8046%. By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. 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). Many are speculating that it. After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. 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. Also, its trailing-12-month. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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. CEI stock price prediction, Prior to the default, CATI had not recorded interest due on the note based on its earlier agreements. Cambers income comes from Viking Energy Group, a small oil-and-gas driller it bought in early 2021. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. It also includes material acquisitions of leasehold or production in new areas. 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. Is Your Leadership Style More Steve Jobs or Elon Musk? 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). The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. Viking has a market capitalization of approximately $87 million, according to Yahoo Finance data; Camber has a market cap of about $33 million as of April 20. Get our PREMIUM Forecast Now, from ONLY $7.49! , 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. On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. 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. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. Includes modified extension pages (usually configuration pages). Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. We intend that all forward-looking statements be subject to the safe-harbor provisions. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. WalletInvestor.com. index on US Stock Market : At Walletinvestor.com we predict future values with technical analysis for wide Before the run-up in oil prices Viking was a classic dead A searchable database of oil and gas debt and equity offerings. Check-in with Cambers President & CEO, James Doris, as he provides insight into the companys operations, structure and growth strategy. 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. 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. In terms of trailing-12-month EV/Sales, the stock is currently trading at 332.17x, which is significantly higher than the 2.75x industry average. 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. 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% Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of As of the end of 2022, Camber owned approximately 60.9% of Vikings outstanding common shares, according to regulatory filings. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. How Does Camber Energy (CEI) Stack Up Against its Peers? came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. 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 purchased interests in oil and gas assets from private operators for $69 million late last year. 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. Furthermore, the company's net loss amounted to $13.24 million. Once that happens, shareholders can vote and the merger will be completed. CEI has an overall F rating, which translates to a Strong Sell in our POWR Ratings system. Camber believes that it has certain advantages in initiating a development program in the San Andres. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. The company was formerly known as Lucas Energy. Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. 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. 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 When will CEI stock price go down? 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. hedging contracts) during the quarter. The Vantage Agreement contained customary indemnification requirements. James Doris, President & CEO of the two companies commented, "This transaction further strengthens the relationship between Camber and Viking and moves us one step closer toward a full combination of the two entities. 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. USD today. 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. 2023 Hart Energy. CEI stock future price, The remaining West Texas acreage is acquired leasehold located on the Central Basin Platform of the Permian Basin, which was announced by the Company as part of its entry in the emerging Horizontal San Andres play. In January, Camber agreed to acquire a 100% interest in companies developing a renewable diesel processing plant. How will Camber Energy Inc stock price increase? Your adding value on me and also support me to wrote more post on my blog. We should be hearing from the SEC any day now that the Form S-4 cleared. The oil and gas resides in pore spaces of conventional subsurface rock formations and is held in place by the pressurized water. How do did you get these results with a opening of 0.33 and close at 41? Vikings 2019 results, as well as its recent hedging activities, have already proved more favorable than expected. Subscribe for free to our newsletters for the latest energy news. The Mid-Continent assets produce from a liquids-rich, gas reservoir known as the Hunton formation. 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. By producing the water (dewatering), the pressure holding the hydrocarbon in place is lowered, the hydrocarbon expands, and transitions from a residual state to a mobile state, allowing for commercial production. * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts 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. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, 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. Of the company's floating shares,14.3% have been sold short. Camber Energy Inc real time quote is equal By John Downey. Here's Why. 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. WebFind real-time CEI - Camber Energy Inc stock quotes, company profile, news and forecasts from CNN Business. Viking targets undervalued assets with realistic appreciation potential. The Glasscock County, Texas properties produce oil and gas primarily from the Wolfberry, Cline and Fusselman formations and are all non-operated. We'll be in your inbox every morning Monday-Saturday with all the days top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur. If the New Acquisition closes successfully, Vikings subsidiary, Elysium Energy, LLC, will acquire, directly or indirectly through its own wholly-owned subsidiaries, working interests and overriding royalty interests in oil and gas properties in Texas(approximately 71 wells in 11 counties) andLouisiana(approximately 52 wells in 6 parishes), along with associated wells and equipment. 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. Insider Financial focuses solely on short-term high probability trade opportunities. 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. 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. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. In addition, CEI reported a $9.750 net interest loss. For more information, please visit the company's website at www.camber.energy. Also refer for more: Coal India share price target. 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. This article is not a solicitation or recommendation to buy, sell, or hold securities. Duke Energy says the capacity-sharing plan would cut operating costs, and those savings would go back to customers. 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. 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, CEI stock price predictions 2023, CEI - Camber Energy Inc Stock quote - CNNMoney.com Markets Multiple local clean energy companies have landed rounds of $500 million or more recently. 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). Approximately 97% of the Central Oklahoma acreage is held by production (HBP). 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. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. 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. Is Camber Energy Inc price going up? bad, high-risk 1-year investment option. 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. 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. 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. Prices for top E&P stocks and commodities. 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. Information on assets, buyers and sellers, deal values, and more. 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. This article is meant for informational and educational purposes only and does not provide investment advice. When will CEI price fall? The Release, which was filed in various counties in Texas on January 22, 2018 and January 23, 2018, discharged approximately $5.8 million in principal and interest outstanding and owed to Rogers, according to Rogers. 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. CEI forecast tomorrow, 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. But those plans were terminated that December after Camber purchased a 51% stake in Viking for $10.9 million in cash and the cancelation of a $9.2 million loan. Imon is an investment analyst and journalist with an enthusiasm for financial research and writing. 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). Many are speculating that its planned merger withViking Energy Group is finally going to happen. system. 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. 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. However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. Oil prices collapsed and lockdowns drove the US economy to halt. 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. Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. This justifies the stock's relatively high 1.29 beta. can be a 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. In my opinion, Q3 2021 was This reflects the stock's negative ROE and cash flow from operations. Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". No Spam. The post Is Camber Energy a Buy Under $1? Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. Here are the highlights: Viking shareholders are on board with the merger. Also, it has an F grade for Stability. 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. The company's trailing-12-month gross profit margin and cash from operations are negative 0.5% and $2.09 million, respectively. brijesh-patel 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. Revenues were$9.55million as compared to $8.73 million in Q-2 2019. 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. Camber Energy Inc market prognosis, 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. 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. We have no business relationship with any company whose stock is mentioned in this article. With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. 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. CEI has an F grade for Quality. Thus, we think it is best avoided now. Camber Energy, Inc. is an independent oil and natural gas company. 0.138 USD . It has been more than three weeks since the NYSE American Exchange sent Camber Energy (NYSEAMERICAN: CEI) a letter saying that it wasnt compliant with the Let's find out. The biggest 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.. Remember, this was a stock that was trading over $8 at this time last year. Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. In terms of Value grade, the company has an F, which is reflective of its premium valuation. Approximately 72% of Boe was proved producing. 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. WebCamber Energy, Inc. is an independent oil and natural gas company. One of the requirements is a $1 minimum share price for 30 days.

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