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. 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. The pages created by the user or by XWiki extensions on behalf of the user. Revisiting Camber Energy (CEI): The Situation Still Looks Bad Ricky_Stock_Bobby Bidens energy secretary makes 'important admission' over US Also, it has an F grade for Stability. 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. 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. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. Leaders are starting to outline when they will show results. The company's primary value drivers are its reserves which must be developed to unlock their full potential. Furthermore, the company's net loss amounted to $13.24 million. 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 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. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Prices for top E&P stocks and commodities. 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. 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. Of the 92 stocks in the C-rated Energy Oil & Gas industry, CEI is ranked last. brijesh-patel 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. CEI forecast tomorrow, 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. 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. hedging contracts) during the quarter. In this article, we take a look at Camber Energy and the risk/reward opportunity. Camber Energy, Inc. Extinguishes $18.9M of Total Debt - Yahoo 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. 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. 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. Information on assets, buyers and sellers, deal values, and more. 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. Let's find out. No Spam. Senior Staff Writer, Charlotte Business Journal. WebFind real-time CEI - Camber Energy Inc stock quotes, company profile, news and forecasts from CNN Business. Doris will serve as president and CEO of the combined company following the merger, per the new agreement. USD today. future. CEI - Camber Energy Inc Stock quote - CNNMoney.com - CNN Camber will remain the sole publicly traded company following the combination, according to the agreement between the two Houston-based firms. Camber Energy Inc projections, CEI forecast, Approximately 72% of Boe was proved producing. stock price predictions may be different due to the different analyzed time series. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. Read fore more: Google price forecast/ Predication, Your blog is to good for my knowledge. Year-to-date, CEI has declined -10.11%, versus a 21.98% rise in the benchmark S&P 500 index during the same period. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. By John Downey. 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. Energy Going 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. Term Box: Camber Energy One of the requirements is a $1 minimum share price for 30 days. 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. The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. 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. 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.