Camber Energy, Inc Stock Price, News & Analysis

Camber Energy, Inc. (NYSE American: CEI) announced the acquisition of a 100% interest in companies that are developing a renewable diesel processing plant.

The facility is expected to produce approximately 43 million gallons of renewable diesel annually. Renewable diesel is more environmentally friendly, being 50%-55% less carbon-intensive than traditional diesel.

This acquisition aligns with the growing demand for renewable energy sources. However, closing the deal is conditioned on several factors outlined in the Membership Interest Purchase Agreement, with no guarantees the conditions will be satisfied.

Camber Energy (NYSE American: CEI) announced it has regained compliance with the NYSE American's listing standards as of January 3, 2023, resolving a previously noted deficiency. This positive development follows a notification letter received on November 7, 2022. The company is considered back in good standing with the Exchange. Further details are disclosed in their Current Report on Form 8-K filed with the SEC on January 4, 2023. Camber focuses on providing energy solutions and holds interests in oil and natural gas assets, along with innovative technologies.

Camber Energy has entered into a Purchase and Sale Agreement to acquire interests in oil and gas assets from privately-owned companies for USD 69 million. The acquisition involves working interests in 169 producing oil wells that generate approximately 2,000 barrels of oil per day and a total proved reserve value of about USD 185 million. The purchase will be funded through a mix of cash and the issuance of convertible preferred stock. The deal is contingent on various approvals and obtaining a new loan. Further details can be found in Camber's filed Current Report on Form 8-K.

Camber Energy, Inc. (NYSE American:CEI) has implemented a 1-for-50 reverse stock split effective December 21, 2022, following Board approval on December 14. This action reduces the outstanding shares from approximately 887.7 million to around 17.8 million to meet NYSE American listing requirements and mitigate the risk of delisting. The par value remains unchanged, and fractional shares were rounded to whole shares. The reverse split is expected to raise the stock price, ensuring compliance with exchange standards.

Camber Energy (NYSE American: CEI) announced a 1-for-50 reverse stock split effective December 21, 2022. The number of authorized shares will reduce from 1 billion to 20 million, and outstanding shares will decrease from approximately 814.4 million to about 16.3 million. This split aims to comply with NYSE American's price requirements and mitigate delisting risks. Fractional shares will round up to the nearest whole share. The common stock will trade under the existing symbol CEI after the split, with a new CUSIP number.

Camber Energy, Inc. (NYSE: CEI) has announced a 1-for-50 reverse stock split effective December 30, 2022. This decision aims to reduce the number of issued shares from approximately 814.4 million to 16.3 million and decrease authorized shares from 1 billion to 20 million. The split aligns with NYSE American’s requirements to avoid potential delisting due to low share prices. Following the split, shares will trade under the existing ticker symbol 'CEI' with a new CUSIP number. The company continues to operate in the energy sector, providing solutions and holding interests in oil and gas assets.

Camber Energy, Inc. has received a notification from the NYSE American regarding its common stock trading below compliance thresholds. As of November 7, 2022, the stock's 30-day average price is under $0.20, necessitating a sustained price improvement or a reverse stock split by May 7, 2023. Although the stock currently remains listed under symbol CEI, it will receive a '.BC' designation indicating its below compliance status. This letter does not impact ongoing operations or SEC reporting requirements.

Camber Energy's majority-owned subsidiary, Viking Energy Group, has received a Notice of Allowance from the USPTO for its patent application related to an ozone-based waste treatment system. This technology aims to enhance waste disposal in medical settings, potentially addressing the harmful emissions associated with traditional methods. The global medical waste management market is projected to grow at a CAGR of 5.4% through 2025. The issuance of the patent is expected in the coming months, positioning Viking for growth in this critical sector.

Camber Energy (NYSE American:CEI) announced on October 3, 2022, that it has regained compliance with the NYSE American's listing standards. This follows the resolution of a deficiency noted in a January 2022 notification after the Company held its Annual Meeting on September 27, 2022. Camber Energy is a growth-oriented energy firm providing energy solutions and owning oil and gas assets in the U.S. It also holds intellectual property rights to innovative technologies, including a carbon capture system and waste treatment solutions.