Joel Holland, CEO of Harvest Hosts, grew the company's membership from 6,000 to more than 250,000 since 2018. - Try Now Risk-Free - Money-back guarantee! Camber Energy Flirts With NYSE American Delisting CEI stock price prediction, The Camber Energy stock price may drop from 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. 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. CEI - Camber Energy Inc Stock quote - CNNMoney.com - CNN 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. CEI prediction, 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. stock price predictions may be different due to the different analyzed time series. A Psychologist Reveals 3 Signs You Should Walk Away From Someone Fast. 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. We'll be in your inbox every morning Monday-Saturday with all the days top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur. Insider Financial is not an investment advisor and does not provide investment advice. Camber purchased interests in oil and gas assets from private operators for $69 million late last year. Camber Energy Inc analyst report, Your adding value on me and also support me to wrote more post on my blog. At the moment, Camber Energy owns a 70% interest in the company and the latter was the buyer of that carbon-capture system license. Approximately 9% of this acreage is productive from the Cline and Wolfberry formations acquired pursuant to the Segundo transaction. According to our analysis, this can happen. What's The Story With Camber Energy? - Insider Financial Remember, this was a stock that was trading over $8 at this time last year. WebHOUSTON, TX / ACCESSWIRE / May 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), an independent oil and gas company, Asian paint share price target, brijesh-patel On May 1, 2017, the Company entered into a service agreement (the Service Agreement), with Enerjex Resources (Enerjex) to outsource the management of its back-office functions for a fixed monthly fee. Many are speculating that it. Additionally, the Company and NFP jointly terminated their venture. 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. 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. Viking targets undervalued assets with realistic appreciation potential. By pursuing adjacent or nearby properties, the company plan to expand its acreage footprint and capitalize on cost efficiencies. Camber Energy Inc real time quote is equal 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. Are You Too Trusting? Many are speculating that its planned merger withViking Energy Group is finally going to happen. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. When will Camber Energy Inc price drop? 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). WebOVERVIEW. Database of selected U.S. and international exploration wells. The Glasscock County, Texas properties produce oil and gas primarily from the Wolfberry, Cline and Fusselman formations and are all non-operated. Also, CEI's trailing-12-month asset turnover ratio of 0.01% is 96.5% lower than the 0.4% industry average. It engages in the acquisition, development, and sale of crude oil and natural gas from 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. Of the 92 stocks in the C-rated Energy Oil & Gas industry, CEI is ranked last. Once online, the project will have an estimated capacity of around 43 million gallons of renewable diesel annually. Camber Energy Inc technical analysis, 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. I can't understand about google price goes 000. 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. This acreage, part of the Companys Jackrabbit acreage, targeted the San Andres formation in the Permian Basin. 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. Louis G. Schott, Interim CEO of Camber, stated: Camber is extremely excited about the planned Merger. Many penny stock investors are asking whats the story withCamber Energyafter the stock jumped 53% on Tuesday. 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. No Spam. Revenues were$9.55million as compared to $8.73 million in Q-2 2019. Specifically, the company prefer relatively shallow (less than 10,000 feet) formations that require horizontal drilling techniques and significant surface infrastructure management, and Camber Energy is currently evaluating several opportunities to expand its asset acreage. Also, its 4.94 trailing-12-month Price/Book multiple compares with the 1.48 industry average. 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. 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. CEI forecast, She began her career at Kantar IMRB, a leading market research and consumer consulting organization. This justifies the stock's relatively high 1.29 beta. Let's find out. The post Is Camber Energy a Buy Under $1? Currently there seems to be a trend where stocks in the Energy Mining, Quarrying, and Oil and Gas Extraction sector (s) have been popular in this period. 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. On September 10th, Viking posted strong Q2 results. energy Will CEI price drop? 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. 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 Energy Going The company's growth plan includes the development and enhancement of existing production, in addition to the drilling of new wells on its acreage. The company's production sales totaled 158,555 barrels of oil equivalent, net to its interest, for the nine month period ended December 31, 2017. This transaction did not close and the letter of intent was terminated. 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. Furthermore, the company's poor cash balance and negative profit margin are not in sync with its stock's current valuation. Camber Energy, Inc. (Camber) is a growth-oriented, diversified energy company. Also, its trailing-12-month. Approximately 72% of Boe was proved producing. Aside from its deal with Viking, Camber has pursued other M&A in recent months. Camber Energy Inc stock forecast, * Our share forecasts and predictions are made by, Cryptocurrency News, Crypto, Stock, Forex Predictions, Forecasts & Charts This article is meant for informational and educational purposes only and does not provide investment advice. 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. In West Texas, the Company had 209 /2,253 (net / gross) acres. 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. Will CEI stock price rise? 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"). Term Box: 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 After all, Camber Energy operates in the geopolitically volatile oil and natural gas industry as a homegrown player. This reflects the stock's negative ROE and cash flow from operations. ThanksYou can refer for more: Kotak Mahindra bank Blue Hat Interactive Entertainment (BHAT) Stock Forecast, AMC Entertainment Holdings Inc (AMC) Stock Forecast, Microsoft Corporation (MSFT) Stock Forecast, Meta Platforms Inc. (META) Stock Forecast, Berkshire Hathaway Inc. - Class A (BRK.A) Stock Forecast, > Page 2: detailed data / stock price table <, Alphabet Inc Class A Stock Forecast, "GOOGL" Share Price Prediction Charts, Asian Paints Stock Forecast, "500820" Share Price Prediction Charts, Coal India Stock Forecast, "533278" Share Price Prediction Charts, Kotak Mahindra Bank Stock Forecast, "500247" Share Price Prediction Charts, Camber Energy Inc Stock Price Forecast for 2023, Camber Energy Inc Stock Price Forecast for 2024, Camber Energy Inc Stock Price Forecast for 2025, Camber Energy Inc Stock Price Forecast for 2026, Camber Energy Inc Stock Price Forecast for 2027, Camber Energy Inc Stock Price Forecast for 2028. Camber Energy Remains a Promising Way to Play the 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. 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. Help us improve our free forecast service with share! Sign Up Now For Our 100% FREE Small Cap Reports. CEI forecast tomorrow, Insider Financial is not an investment advisor and does not provide investment advice. The prediction says for February 2019. bad, high-risk 1-year investment option. This article is not a solicitation or recommendation to buy, sell, or hold securities. 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. HOUSTON, TX / ACCESSWIRE / January 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) (" Camber " or the " Company ") is pleased to announce the In addition, CEI reported a $9.750 net interest loss. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. Senior Staff Writer, Charlotte Business Journal. 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. Is CEI stock price going to drop? The biggest Sep 7, 2021, This story originally appeared on StockNews. 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. Vikings 2019 results, as well as its recent hedging activities, have already proved more favorable than expected. CEI shares fell $0.83 (-100.00%) in premarket trading Tuesday. system. 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. As the company consider producing properties, the company plan to prioritize those with cash flow returns near its current assets that can substantially improve its bottom line. Camber Energy Inc finance tips, Closing yesterday's session at $0.83, the stock is trading 73.3% below its 52-week price high of $3.10. 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. Revisiting Camber Energy (CEI): The Situation Still Looks Bad Read fore more: Google price forecast/ Predication, brijesh-patel 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. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Always do your own research and make your own investment decisions. This balanced approach can expedite growth while reducing dependence on any particular division. 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 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. Here's what could influence CEI's performance in the near term: Last month, CEI announced the acquisition of a 60.5% interest in Simson-Maxwell Ltd., a leading manufacturer and supplier of industrial engines and other energy solutions, through its majority-owned subsidiary. 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, 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. Viking targets undervalued assets with realistic appreciation potential. 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. change will be The companies did not provide an estimated closing date. 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. 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 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, Viking Reach New Agreement to Merge Continued improvement in these rates should result in increased revenue and cash flow. wrote this article ourselves and it expresses our own opinions. Incorporated in Nevada in December 2003 under the name Panorama Investments Corp., the Company changed its name to Lucas Energy, Inc. effective June 9, 2006 and effective January 4, 2017, the Company changed its name to 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. I always refer your site before writing. 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. Oil prices collapsed and lockdowns drove the US economy to halt. Insider Financial focuses solely on short-term high probability trade opportunities. In addition, CEI reported a $9.750 net interest loss. About - Camber Energy Our aim is to acquire a majority interest in assets or entities with current revenue streams and realistic upside potential. 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. Camber believes that it has certain advantages in initiating a development program in the San Andres. Camber Energy Is Going Nowhere Fast | Markets Insider Also refer for more: Coal India share price target. If you follow a company closely and would like to share your knowledge, we would love your contributions. We have no business relationship with any company whose stock is mentioned in this article. Camber Energy (CEI) Stock Forecast, Price & News In terms of trailing-12-month EV/Sales, the stock is currently trading at 332.17x, which is significantly higher than the 2.75x industry average. Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group have finally inked an agreement to merge. In this article, we take a look at Camber Energy and the risk/reward opportunity. We intend that all forward-looking statements be subject to the safe-harbor provisions. 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. came in at a negative $5.15 million, while its free cash flow stood at a negative $2.09 million. Camber Energy Camber Energy has steered the Company to a strategic path leveraging on its expanding technical and operational dewatering expertise. Among the lessons below: the brilliance of a "treasure hunt merchandising philosophy.". 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. This article is meant for informational and educational purposes only and does not provide investment advice. CEI holds interests in active oil & gas properties in the onshore Gulf Coast region. Here are the highlights: Viking shareholders are on board with the merger. 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. 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. CEI has an F grade for Quality. Both the Hunton and San Andres are carbonates with relatively high water saturations where the production profile appears to be optimized by a dewatering and depressurizing process. First up, heres a little background info for those not familiar with the stock. Viking also holds an exclusive license in Canada to a patented carbon-capture system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree. 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). Also, it has an F grade for Stability. Subscribe for free to our newsletters for the latest energy news. Question Box: When will CEI price fall? 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. ), 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. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. Bad Weather Won't Ruin Your Vacation Anymore , Retirees Are Earning Up to $20,000 Per Month With. Approximately $6,102,679 of the reduction was achieved, through a series of separate transactions, via the conversion of all or a portion of amounts owing by the Company to certain stakeholders into common stock in the capital of Viking. Bidens energy secretary makes 'important admission' over US See above. However, its trailing-12-month gross loss stood at $19,000, while its operating loss came in at $4.2 million.