WebOVERVIEW. 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. 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. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. Duke Energy says the capacity-sharing plan would cut operating costs, and those savings would go back to customers. We are not receiving compensation for it. Insider Financial is not an investment advisor and does not provide investment advice. 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 Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Question Box: Remember, this was a stock that was trading over $8 at this time last year. Instead, what leaders need to focus on is how hybrid work arrangements will serve customer needs. With the closing of its asset acquisition in August 2016, the Company acquired estimated proved reserves of 6.3 million Boe, of which 0.2 million Bbls were crude oil reserves, 14.8 billion Bcf were natural gas reserves and 3.7 million Bbls were natural gas liquids. 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. Furthermore, the company's net loss amounted to $13.24 million. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. Cambers income comes from Viking Energy Group, a small oil-and-gas driller it bought in early 2021. 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. By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. 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. Viking issued 53,219,677 common shares in connection with the debt conversions. In this article, we take a look at Camber Energy and the risk/reward opportunity. If the New Acquisition closes successfully, Vikings subsidiary, Elysium Energy, LLC, will acquire, directly or indirectly through its own wholly-owned subsidiaries, working interests and overriding royalty interests in oil and gas properties in Texas(approximately 71 wells in 11 counties) andLouisiana(approximately 52 wells in 6 parishes), along with associated wells and equipment. While CEI has been taking steps to complete the accounting to file the Form 10-K, if it fails to cure the filing delinquency within the given cure period, NYSE could suspend and delist it. What Happened In Camber Energy Stock (CEI)? Aside from its deal with Viking, Camber has pursued other M&A in recent months. Will CEI price go up? We intend that all forward-looking statements be subject to the safe-harbor provisions. In addition, the company will evaluate the property to determine whether it conforms to its experience and technical expertise. 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. 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. The net proceeds from the sale to the Company totaled $25,914. 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. For over five years, we have provided a free service to a countless number of traders featuring only the best in the microcap arena. Camber believes that it has certain advantages in initiating a development program in the San Andres. 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.