is camber energy going out of business

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. 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. Camber Energy Inc stock forecast, This transaction did not close and the letter of intent was terminated. She began her career at Kantar IMRB, a leading market research and consumer consulting organization. Here's Why. 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. 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. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Camber purchased interests in oil and gas assets from private operators for $69 million late last year. Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. 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. Historical Here are the highlights: Viking shareholders are on board with the merger. 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. WalletInvestor.com. The post Is Camber Energy a Buy Under $1? Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Remote Work Skeptics Are Forgetting Their Most Valuable Asset: Their Customers. 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. 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. Once that happens, shareholders can vote and the merger will be completed. hedging contracts) during the quarter. Camber Energy, Viking Reach New Agreement to Merge, Meritorious Awards for Engineering Innovation (MEAs), Meritorious Awards for Engineering Innovation (MEA), TotalEnergies Eager to Dip into Suriname Oil Pool, California Resources Appoints New CFO Molina, Molecular Transformation: Exxon Mobil Tackles the Energy Transition, SLB, Baker Hughes, Halliburton Primed for Middle East Boom. CEI prediction, Note: Because of the historical price data of CEI (with very high volatility), the technical analysis and stock price prediction may be unrealistic! Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. 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. The company's third initiative for growth is the acquisition of production and acreage near its existing operations. The Camber Energy stock price is This reflects the stock's negative ROE and cash flow from operations. Sep 7, 2021, This story originally appeared on StockNews. However, the collapse in energy prices and the COVID-19 pandemic have wreaked havoc on its business plans, including the planned merger with Viking. On September 10th, Viking posted strong Q2 results. This balanced approach can expedite growth while reducing dependence on any particular division. Our proprietary rating system also evaluates each stock based on eight different categories. Furthermore, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. 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. 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 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. 2023 Hart Energy. 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 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. The pages created by the user or by XWiki extensions on behalf of the user. This site is funded and maintained by Fintel.io. wonder full post. 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. The company owns oil and gas leases inTexas,Louisiana,Mississippi, and Kansas. Viking targets undervalued assets with realistic appreciation potential. 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. 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. A Psychologist Reveals 3 Signs You Should Walk Away From Someone Fast. We have no business relationship with any company whose stock is mentioned in this article. 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. Camber Energy to Acquire Private Companies Oil Wells for $69 Million. If you have an interest in the lucrative microcap sector, sign up to Insider Financial today! After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. Vikings 2019 results, as well as its recent hedging activities, have already proved more favorable than expected. Read fore more: Google price forecast/ Predication, brijesh-patel 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. Of the company's floating shares,14.3% have been sold short. 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. Approximately 72% of Boe was proved producing. 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. In September 2017, Rogers foreclosed on the assets of CATI which secured the note. Your info is never shared. Moreover, extinguishing the $18.9 million of debt improves the equity position of both companies. CEI stock price predictions 2023, WebOVERVIEW. CEI's trailing-12-month revenue came in at $264,160 . 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. USD today. Disclosure: We have no position in NYSEMKT:CEI, OTCMKTS:VKIN, or any of the securities mentioned. How will Camber Energy Inc stock price increase? Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. wrote this article ourselves and it expresses our own opinions. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. Approximately 97% of the Central Oklahoma acreage is held by production (HBP). 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. Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. CEI stock price prediction, Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. 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. 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. Oil prices collapsed and lockdowns drove the US economy to halt. 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. CEI forecast, The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. Independent oil and natural gas company Camber Energy, Inc. (CEI), which is headquartered in Houston, Tex., is focused on the acquisition, development, and sale 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. ), 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 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. - Try Now Risk-Free - Money-back guarantee! Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of 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. 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). CEI stock future price, 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. Database of selected U.S. and international exploration wells. Revenues were$9.55million as compared to $8.73 million in Q-2 2019. Camber upped its stake in Viking in 2021, purchasing an additional 27.5 million Viking shares for $11 million. Your adding value on me and also support me to wrote more post on my blog. Leaders are starting to outline when they will show results. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) (" Camber " or the " Company ") is pleased to announce the CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. 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. 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, In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. 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% 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. 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 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. Furthermore, the company's net loss amounted to $13.24 million. Is Camber Energy Inc price going up? 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). 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. See above. Will CEI price drop? Furthermore, the company's net loss amounted to $13.24 million. Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. 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. 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. Beyond the grades I've highlighted, one can check out additional CEI ratings for Sentiment, Growth, and Momentum here. The prediction says for February 2019. It engages in the acquisition, development, and sale of crude oil and natural gas from various known In West Texas, the Company had 209 /2,253 (net / gross) acres. As always, good luck to all (except the shorts)! 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. 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. Duke Energy says the capacity-sharing plan would cut operating costs, and those savings would go back to customers. 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). With the stock perking up, we expect the $1 price to be exceeded as momentum players pile into Camber Energy. In this article, we take a look at Camber Energy and the risk/reward opportunity. We are not receiving compensation for it. 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. 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's primary value drivers are its reserves which must be developed to unlock their full potential. (Source: Shutterstock). A searchable database of oil and gas debt and equity offerings. 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 Ricky_Stock_Bobby 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. appeared first on StockNews.com. 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. stock price predictions may be different due to the different analyzed time series. 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. Insider Financial is not an investment advisor and does not provide investment advice. One of the requirements is a $1 minimum share price for 30 days. CEI's trailing-12-month revenue came in at $264,160 . Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. Camber Energy Inc market prognosis, Prices for top E&P stocks and commodities. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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. By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. Not within a year. This justifies the stock's relatively high 1.29 beta. 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. 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. For more information, please visit the company's website at www.camber.energy. Sign Up Now For Our 100% FREE Small Cap Reports. In August, Viking reduced its overall debt by approximately $7,808,661. I can't understand about google price goes 000. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. Additionally, the Company and NFP jointly terminated their venture. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. Camber Energy Inc finance tips, 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. The company was formerly known as Lucas Energy.

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