With 5% of the float short, we also expect a nice short squeeze to help make $1 and above an easy target. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Information on assets, buyers and sellers, deal values, and more. Includes modified extension pages (usually configuration pages). Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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. 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. CEI prediction, Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. Closing yesterday's session at $0.83, the stock is trading 73.3% below its 52-week price high of $3.10. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. 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. Camber Energy Inc projections, Is Camber Energy a Buy Under $1? | Entrepreneur 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. 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. On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. 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. 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). Camber Energy, Viking Reach New Agreement to Merge This article is not a solicitation or recommendation to buy, sell, or hold securities. The assets are expected to generate $55 million in annual gross revenue, the company said. In my opinion, Q3 2021 was This site is funded and maintained by Fintel.io. selection of stocks like Camber Energy Inc. 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. 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. Register Now and start editing! Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. In this article, we take a look at Camber Energy and the risk/reward opportunity. These properties include interests in four different fields, of which one is operated by Camber and the other three are non-operated. Constance Dierickx, Ph.D., says it's tempting to rely on others when you're under stress but it can be a big mistake. Effective December 4, 2017, Enerjex and the Company mutually agreed to terminate the Service Agreement. Camber Energy closes deal taking stake in Viking Energy 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. Here are the highlights: Viking shareholders are on board with the merger. 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. First up, heres a little background info for those not familiar with the stock. Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. Of the company's floating shares,14.3% have been sold short. Camber Energy Discloses Receipt of Notice From NYSE Viking targets undervalued assets with realistic appreciation potential. The prediction says for February 2019. Ricky_Stock_Bobby 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 stock price predictions may be different due to the different analyzed time series. 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. Camber Energy 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. 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. Should Income from operations was $1.00 million as compared to $2.31 million in Q-2, 2019. Short-term and long-term CEI (Camber Energy Inc) While commodity prices have rebounded from their lows and service costs have declined, the drilling of new wells continues to require constant economic viability evaluation. Camber Energy, Inc., (CEI) a Nevada corporation, is an independent oil and natural gas company based in San Antonio, Texas. 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. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. However, given investor concerns related to the company's Form 10-K filing delinquency and the potential for the company to face NYSE delisting procedures, is it worth betting on the stock at the current price level? The purchase price totaled CAD3.99 million (approx. 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. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented, independent oil and gas company engaged in the development of Furthermore, the company's poor cash balance and negative profit margin are not in sync with its stock's current valuation. When will CEI price fall? Approximately 97% of the barrel of oil equivalent (Boe) was proved producing. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. 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"). brijesh-patel 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. Energy Going The companies did not provide an estimated closing date. Before the run-up in oil prices Viking was a classic dead 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.. 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. By John Downey. 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). 2023 Hart Energy. This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. CEI has an overall F rating, which translates to a Strong Sell in our. CEI stock price predictions 2023, Camber Energy Inc analyst report, And CEI's 26.65x trailing-12-month Price/Sales is 1,770% higher than the 1.43x industry average. 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. Your adding value on me and also support me to wrote more post on my blog. The company's primary value drivers are its reserves which must be developed to unlock their full potential. 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). 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 Camber Energy CEI stock future price, Camber Energy to Acquire Private Companies Oil Wells for $69 Million. 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. 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. On December 15, 2017, CATI entered into a Release of Mortgage, Deed of Trust, Assignment, Security Agreement, Financing Statement and Fixture Filing (the Release) with Rogers. 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). Instead, what leaders need to focus on is how hybrid work arrangements will serve customer needs. brijesh-patel Your blog is to good for my knowledge. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions. I can't understand about google price goes 000. The oil and gas resides in pore spaces of conventional subsurface rock formations and is held in place by the pressurized water. 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 This transaction did not close and the letter of intent was terminated. 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. Furthermore, the company's net loss amounted to $13.24 million. We are not receiving compensation for it. Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". On September 10th, Viking posted strong Q2 results. WebCamber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. The Vantage Agreement contained customary indemnification requirements. 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 effective date of the Release was December 15, 2017. Subscribe for free to our newsletters for the latest energy news. 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. 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. Camber upped its stake in Viking in 2021, purchasing an additional 27.5 million Viking shares for $11 million. Also, it has an F grade for Stability. 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. Once that happens, shareholders can vote and the merger will be completed. Bidens energy secretary makes 'important admission' over US 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. 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 As always, good luck to all (except the shorts)! 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. Insider Financial is not an investment advisor and does not provide investment advice. Thus, we think it is best avoided now. Camber Energy Inc stock forecast, 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 two companies had previously drafted a merger agreement dated Aug. 31, 2020. Camber Energy Inc real time quote is equal Is Your Leadership Style More Steve Jobs or Elon Musk? 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. can be a 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. Sep 7, 2021, This story originally appeared on StockNews. I can't understand about google price goes 000. 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. Many are speculating that it. We are not receiving compensation for it. 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. Insider Financial focuses solely on short-term high probability trade opportunities. How Does Camber Energy (CEI) Stack Up Against its Peers? 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). Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. 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. CEI forecast tomorrow, Contact InformationInvestors and Media:Tel. Will Camber Energy Inc stock price fall? 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. 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. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. 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. On May 24, 2021, Viking reported that Camber Energys first quarter ended March 31, 2021 earnings per share (EPS) of -$0.13 under generally accepted Revisiting Camber Energy (CEI): The Situation Still Looks Bad Prior to the default, CATI had not recorded interest due on the note based on its earlier agreements. Database of selected U.S. and international exploration wells. By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. Camber Energy 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. Vantage was granted a second lien on the Jackrabbit property in connection with the financing. Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. All rights reserved. Camber Energy (CEI) Stock Forecast, Price & News In September 2017, Rogers foreclosed on the assets of CATI which secured the note. 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 Remains a Promising Way to Play the 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. Furthermore, its ROE, ROA, and ROTC stood at negative 274.3%, 50.4%, and 13.8%, respectively. In terms of Value grade, the company has an F, which is reflective of its premium valuation. 0.138 USD . Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Viking issued 53,219,677 common shares in connection with the debt conversions. future. Note: Because of the historical price data of CEI (with very high volatility), the technical analysis and stock price prediction may be unrealistic! The biggest The Company maintains a 90% ownership position in the remaining 1,100 acres in the area. Independent oil and natural gas company Camber Energy, Inc. (. #Camberenergy - Twitter Search / Twitter 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. 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, Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. Many are speculating that its planned merger withViking Energy Group is finally going to happen. Asian paint share price target, brijesh-patel This reflects the stock's negative ROE and cash flow from operations. How do did you get these results with a opening of 0.33 and close at 41? Camber Energy Probability Of Bankruptcy - (NYSE MKT:CEI) Also, its trailing-12-month. A new report by the World Economic Forum found that nearly 2% of current roles could disappear by 2027. 1.350 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. -89.8046%. 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. Yes. Help us improve our free forecast service with share! Camber Energy 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). This article is meant for informational and educational purposes only and does not provide investment advice. 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. 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. The Camber Energy stock price may drop from 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.
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