Following several years of negotiations, Camber Energy and its majority-owned subsidiary Viking Energy Group amended an agreement to merge. 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 Adjusted EBITDA for the six-month period ending June 30, 2020, was $10.05 million, as compared to $10.34 million for the six-month period ending June 30, 2019. A Psychologist Reveals 3 Signs You Should Walk Away From Someone Fast. On March 20, Camber announced it had addressed legacy accounting issues that allowed the company to resume negotiations on the merger. 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. At the moment, Camber Energy owns a 70% interest in the company and the latter was the buyer of that carbon-capture system license. Your blog is to good for my knowledge. Viking issued 53,219,677 common shares in connection with the debt conversions. Through its majority-owned subsidiary, Viking Energy Group, Inc. (Viking), or Remote Work Skeptics Are Forgetting Their Most Valuable Asset: Their Customers. Is CEI stock price going to drop? Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Camber, a diversified energy player with non-operated oil and gas interests and other investments, has worked to combine with Viking, a commercial and industrial energy and power services provider, since at least 2020, having already owned a 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. 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. This article is meant for informational and educational purposes only and does not provide investment advice. Not within a year. According to our analysis, this can happen. 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. Learn about theses six powerful time management strategies you can implement in a hybrid or remote workplace. 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. Always do your own research and make your own investment decisions. Remember, this was a stock that was trading over $8 at this time last year. 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.
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