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. USD today. Independent oil and natural gas company Camber Energy, Inc. (. Read fore more: Google price forecast/ Predication, Your blog is to good for my knowledge. 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. Camber purchased interests in oil and gas assets from private operators for $69 million late last year. Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. index on US Stock Market : At Walletinvestor.com we predict future values with technical analysis for wide 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. - Try Now Risk-Free - Money-back guarantee! 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. 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. In West Texas, the Company had 209 /2,253 (net / gross) acres. Here are the highlights: Viking shareholders are on board with the merger. 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. 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. 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 expected stock price. The company was formerly known as Lucas Energy. We wrote this article ourselves and it expresses our own opinions. By comparison, fossil 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. She began her career at Kantar IMRB, a leading market research and consumer consulting organization. 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. 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. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. Viking issued 53,219,677 common shares in connection with the debt conversions. Camber Energy Senior Staff Writer, Charlotte Business Journal. 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. After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. At December 31, 2017, Cambers total estimated proved producing reserves were 5.98 million barrels of oil equivalent of which 3,383,500 barrels (Bbls) were crude oil and NGL (Bbls) reserves, and 15.6 billion cubic feet (Bcf) were natural gas reserves. Camber Energy Is Going Nowhere Fast | Markets Insider Instead, what leaders need to focus on is how hybrid work arrangements will serve customer needs. CEI's trailing-12-month revenue came in at $264,160 . 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. When will CEI price fall? 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. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. Camber Energy Inc technical analysis, * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts Many are speculating that it. Insider Financial is not an investment advisor and does not provide investment advice. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. 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. 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. 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. Leaders are starting to outline when they will show results. For more information, please visit the company's website at www.camber.energy. Is Camber Energy a Buy Under $1? | Entrepreneur 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. Revisiting Camber Energy (CEI): The Situation Still Looks Bad 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. Camber Energy Probability Of Bankruptcy - (NYSE MKT:CEI) Term Box: 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. Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. 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. Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. 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. Camber Energy, Inc. is an independent oil and natural gas company. The assets are expected to generate $55 million in annual gross revenue, the company said. 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. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. 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. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. Many are speculating that its planned merger withViking Energy Group is finally going to happen. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, Camber Energy Flirts With NYSE American Delisting 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. 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"). Camber Energy closes deal taking stake in Viking Energy About - Camber Energy Camber Energy Inc analyst report, The goal is to re-meet the initial listing standards of the NYSE American. Camber Energy, Viking Reach New Agreement to Merge According to our analysis, this can happen. In addition, CEI reported a $9.750 net interest loss. Camber Energy Inc Forecast, wonder full post. 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). When will Camber Energy Inc price drop? The pages created by the user or by XWiki extensions on behalf of the user. 0.138 USD . WebFind real-time CEI - Camber Energy Inc stock quotes, company profile, news and forecasts from CNN Business. How will Camber Energy Inc stock price increase? 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. Also refer for more: Coal India share price target. Camber Energy, Inc., (CEI) a Nevada corporation, is an independent oil and natural gas company based in San Antonio, Texas. 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. 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. CEI's trailing-12-month revenue came in at $264,160 . The company's trailing-12-month gross profit margin and cash from operations are negative 0.5% and $2.09 million, respectively. 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. Will Camber Energy Inc stock price fall? 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. This article is not a solicitation or recommendation to buy, sell, or hold securities. selection of stocks like Camber Energy Inc. 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. 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. The Camber Energy stock price is In addition, CEI reported a $9.750 net interest loss. Camber Energy Remains a Promising Way to Play the #Camberenergy - Twitter Search / Twitter brijesh-patel Read fore more: Google price forecast/ Predication, brijesh-patel 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. First up, heres a little background info for those not familiar with the stock. CEI forecast tomorrow, 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). It engages in the acquisition, development, and sale of crude oil and natural gas from 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 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. In my opinion, Q3 2021 was 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. CEI stock future price, 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 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. 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. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Below you will find the stock price predictions for 2023, 2024. In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. Independent oil and natural gas company Camber Energy, Inc. (CEI), which is headquartered in Houston, Tex., is focused on the acquisition, development, and sale of natural gas, crude oil, and natural gas liquids in the Cline shale and upper Wolfberry shale in Texas. Your info is never shared. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. 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. WalletInvestor.com. Prices for top E&P stocks and commodities. Camber plans to use the twenty-plus year technical evolution and knowledge of the Hunton to the San Andres formation of the Permian Basin to produce oil and gas through the dewatering process and expects to grow its initial 3,600-acre position moving forward, funding permitting. WebCamber Energy, Inc. is an independent oil and natural gas company. 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. 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. 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. 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. The company's third initiative for growth is the acquisition of production and acreage near its existing operations. Database of selected U.S. and international exploration wells. Also, its trailing-12-month. 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 Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. Insider Financial is not an investment advisor and does not provide investment advice. Camber Energy On September 10th, Viking posted strong Q2 results. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group have finally inked an agreement to merge. Moreover, extinguishing the $18.9 million of debt improves the equity position of both companies. However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. Camber 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. The purchase price totaled CAD3.99 million (approx. Help us improve our free forecast service with share! This reflects the stock's negative ROE and cash flow from operations. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Are You Too Trusting? bad, high-risk 1-year investment option. 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. Camber Energy Inc stock forecast, The company owns oil and gas leases inTexas,Louisiana,Mississippi, and Kansas. The biggest The ratio between the gross and net production varies due to varied working interests and net revenue interests in each well. 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. Additional details regarding the Year End Transactions were included in Camber's and Viking's Current Reports on Form 8-K filed with the Securities and Exchange Commission ("SEC") on January 13, 2021, and are available under "investors" - "SEC filings" at www.camber.energy and www.vikingenergygroup.com. Approximately 97% of the Central Oklahoma acreage is held by production (HBP). energy 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. appeared first on StockNews.com. Camber Energy Historical Beyond the grades I've highlighted, one can check out additional CEI ratings for Sentiment, Growth, and Momentum here. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Will CEI price drop? 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