With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. Help us improve our free forecast service with share! 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 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. 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. The prediction says for February 2019. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. Viking targets undervalued assets with realistic appreciation potential. This site is funded and maintained by Fintel.io. Furthermore, the company's net loss amounted to $13.24 million. 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. The assets are expected to generate $55 million in annual gross revenue, the company said. Camber Energy Inc (CEI) Stock Price Today, News, Quotes, She began her career at Kantar IMRB, a leading market research and consumer consulting organization. In September 2017, Rogers foreclosed on the assets of CATI which secured the note. Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. We have no business relationship with any company whose stock is mentioned in this article. 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. future. When will CEI stock price go down? Camber Energy Inc real time quote is equal This reflects the stock's negative ROE and cash flow from operations. On November 9, 2017, in connection with the sale of the Jackrabbit Acreage, the Company paid Vantage the full amount due on the Vantage Note of $150,000. 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 With the stock perking up, we expect the $1 price to be exceeded as momentum players pile into Camber Energy. First up, heres a little background info for those not familiar with the stock. 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. As a result of the default, demand and acceleration, CATI recorded the default interest demand of $2.1 million in the three month period ended December 31, 2017. Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. February 2022 6.174 51.877 0.464 51.877 88.1 % , lolzzz look how they calculate min in .46 max 51 they r ediots cheap how is that posible, I have a question on the forecastfor CEI. Camber Energy closes deal taking stake in Viking Energy Database of selected U.S. and international exploration wells. Subscribe for free to our newsletters for the latest energy news. And CEI's 26.65x trailing-12-month Price/Sales is 1,770% higher than the 1.43x industry average. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. Camber and Viking reached another merger agreement in February 2021. The pages created by the user or by XWiki extensions on behalf of the user. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. Camber Energy Takes A Giant Step Forward To Becoming A Much Larger Company By Finalizing Acquisition Of Viking Energy ($CEI) Published: April 27, 2023 at 5:42 a.m. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. 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. I can't understand about google price goes 000. Viking issued 53,219,677 common shares in connection with the debt conversions. 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's trailing-12-month revenue came in at $264,160 . Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. Revisiting Camber Energy (CEI): The Situation Still Looks Bad CEI's trailing-12-month revenue came in at $264,160 . As of the end of 2022, Camber owned approximately 60.9% of Vikings outstanding common shares, according to regulatory filings. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Also, its trailing-12-month. 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. The post Is Camber Energy a Buy Under $1? Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. Here are the highlights: Viking shareholders are on board with the merger. 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. This is a great start to 2021.". brijesh-patel 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. 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. After working to consummate a deal for several years, Camber Energy and Viking Energy Group have finally reached a new agreement to fully combine. Camber Energy Is Going Nowhere Fast | Markets Insider Should to 1.350 USD at 2023-05-02, but your current investment may be devalued in the Are You Too Trusting? 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. 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. index on US Stock Market : At Walletinvestor.com we predict future values with technical analysis for wide 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. 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. 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. Viking also holds an exclusive license in Canada to a patented carbon-capture system. Of the company's floating shares,14.3% have been sold short. * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts We wrote this article ourselves and it expresses our own opinions. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. This article is not a solicitation or recommendation to buy, sell, or hold securities. Of the company's floating shares,14.3% have been sold short. 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. A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. Camber Energy Inc analyst report, 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 two companies had previously drafted a merger agreement dated Aug. 31, 2020. change will be The net proceeds from the sale to the Company totaled $25,914. 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. brijesh-patel 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. Although this acquisition could strengthen CEI's platform and position it for further expansion across North America, it could also increase its expenses in the near term. Current Assets were$9.21million, as compared to $7.84 million in Q-1 2019. - Try Now Risk-Free - Money-back guarantee! 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. Here's Why. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. 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. CEI NOTICE: Camber Energy, Inc. Investors with - Business Wire The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. 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. 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. Closing yesterday's session at $0.83, the stock is trading 73.3% below its 52-week price high of $3.10. In the past decade, Texas renewable energy and storage capacity surged by about 44,000 megawatts, according to the states grid operator. 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. 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% This balanced approach can expedite growth while reducing dependence on any particular division. I always refer your site before writing. We are leveraging our expertise and relationships to build a diversified organization with profitable business segments to increase stakeholder value. Although an exclusive IP license agreement between its majority-owned subsidiary, Viking Energy Group, Inc., and ESG Clean Energy, LLC, for patenting a carbon capture system should bode well for the stock, several law firms have been investigating its subsidiary for alleged breaches of fiduciary duty and other violations of law. 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 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. While there's a widely-held belief that three days a week in the office is the magic number, with a number of large companies adopting it, it's a fundamentally flawed approach.