Investor Relations
Combined PF Revenues for the 1st Half of 2023 Far Exceed Camber's Annual Revenues for each of the Past 8 Yrs.
HOUSTON, TX / ACCESSWIRE / September 8, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") announced that on September 7, 2023 it filed an amendment (the "Amendment") to the Current Report on Form 8-K filed by the Company on August 1, 2023, regarding the consummation of the previously-announced merger (the "Merger") involving Viking Energy Group, Inc. ("Viking"), which is now a wholly-owned subsidiary of Camber.
The Amendment includes the unaudited pro forma combined statement of operations of Camber and Viking for the six months ended June 30, 2023 (the "PFCSO"), the unaudited pro forma combined balance sheet of Camber and Viking as of June 30, 2023 (the "PFCBS"), and the notes related thereto. The PFSCSO is presented as if the Merger had been completed on January 1, 2023.
Revenue Comparison
As noted in the PFCSO, revenue for the six-month period ended June 30, 2023, was $14,453,632. A comparison between the revenue set out in the PFSCO and Camber's revenue for the past eight fiscal years, as previously disclosed in the Company's filings with the Securities and Exchange Commission, is as follows:
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |||||||||||||||||||||||||||
| Duration of Period | 12 mos. | 12 mos. | 12 mos. | 12 mos. | 12 mos. | 12 mos. | 12 mos. | 12 mos. | 6 mos. | |||||||||||||||||||||||||||
| Revenue | $ | 3,000,886 | $ | 968,146 | $ | 5,302,024 | $ | 6,859,767 | $ | 2,742,102 | $ | 397,118 | $ | 401,222 | $ | 597,255 | $ | 14,453,632 | * | |||||||||||||||||
* as set out in the PFSCO and subject to the notes related thereto. This does not purport to project future operating results.
Stockholders' Equity / (Deficit)
As disclosed in the Company's filings with the Securities and Exchange Commission, the Company's stockholders' deficit as at December 31, 2021 and December 31, 2022 was ($71,813,552) and ($17,123,633), respectively. The stockholders' equity as at June 30, 2023 per the PFCBS was $14,129,553. A summary of the foregoing is as follows:
|
As at
|
12/31/2021 | 12/31/2022 | 6/30/2023 | |||||||||
|
Stockholders' Equity / (Deficit)
|
$ | (71,813,552 | ) | $ | (17,123,633 | ) | $ | 14,129,553 | * | |||
* as set out in the PFCBS and subject to the notes related thereto. This does not purport to project future results.
Additional Details
Additional details regarding the above, and all descriptions herein are qualified in their entirety by, Camber's Current Report on Form 8-K/A filed with the Securities and Exchange Commission ("SEC") on September 7, 2023, which is available under "investors" - "SEC filings" at www.camber.energy. The PFCSO is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the Merger occurred on the date indicated, and it does not purport to project the future operating results of the combined business following the consummation of the Merger.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/781926/camber-energy-highlights-elements-of-recent-merger
HOUSTON, TX / ACCESSWIRE / September 6, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce that John McVicar, CPA, CA, MBA, ICD.D, has been appointed the Chief Financial Officer of the Company, replacing Frank Barker who retired effective September 1st, 2023 and will remain available to the Company as a consultant on an as-needed basis. Mr. McVicar has been the CFO of Viking Energy Group, Inc., Camber's wholly-owned subsidiary, since June, 2022.
Mr. McVicar brings more than 30 years of international business experience in Management Consulting and Finance. His previous roles include Consulting Partner at a Big 4 firm, CFO of a TSX-listed company and several regional finance leadership roles with large U.S. and Canadian multinationals in Canada, the U.S., South America and Asia. Mr. McVicar is a CPA, CA and received an MBA from Duke University and a B. Comm from Queen's University.
James Doris, President and Chief Executive Officer of Camber, commented, "We are grateful for Frank's contributions to the organization and wish him the best in retirement. John has been a valuable resource at the Viking level over the past year and we are pleased to have him step into the CFO role at Camber to assist with executing on the next phase of our growth strategy."
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/780479/camberenergy-appoints-john-mcvicar-as-cfo
CEO James Doris to Discuss Launch of Wildfire Mitigation Technology
HOUSTON, TX / ACCESSWIRE / August 30, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce that its President and CEO, James Doris, is scheduled to appear on Fox Business Network's Varney & Co. program today between 11:00 a.m. and 12:00 p.m. (ET).
During his appearance Mr. Doris intends to discuss the launch of the Open Conductor Detection Technology owned by Camber and its joint venture partners which is designed to assist utilities improve grid stability, reduce the risk of wildfires and mitigate the damage caused by incendiary events. More information about the technology can be found at https://camberprotection.com/.
James A. Doris, President & CEO of Camber, commented, "We value the opportunity to discuss this important technology on a globally televised network and streamed business program like Varney & Co. on the Fox Business Network."
Varney & Co. is a leading cable television business and financial news talk show on the Fox Business Network (FBN) hosted by renowned British-American economic and political commentator Stuart Varney. The show includes market coverage, current events coverage, and interviews and commentary with Wall Street experts. Varney & Co. airs weekdays 9 a.m. to 12 p.m. ET.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/778468/Camber-Energy-President-and-CEO-to-Appear-Today-on-Fox-Business-Networks-Varney-Co
Technology Developed by Former PG&E Professionals
HOUSTON, TX / ACCESSWIRE / August 29, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), and its joint venture partners are pleased to officially introduce for use by utilities around the world an expanded portfolio of fully developed, patent pending, ready-for-market proprietary Electrical Transmission and Distribution Open Conductor Detection Systems designed to detect unsafe and hazardous conditions for transmission lines and distribution lines of any length and any voltage.
The systems are designed to immediately identify (within a tenth of a second or less) when a conductor breaks or opens and to instantly de-energize the appropriate source of power, whether it be from a transmission line or distribution line. This novel approach affords our technology a unique advantage in detecting open conductors before they make contact with the ground.
Robert Stuart, co-founder of the Camber Protection System and former Manager of Operations Engineering of PG&E, stated "I have spent years applying all of my knowledge, expertise and focus toward this issue and am extremely pleased to announce we have a fully tested solution that every utility company or self-powered institution in North America, indeed the world, should explore for the best interests of its customers, employees and neighboring communities."
James Doris, Camber's President & CEO, stated "After recently completing steps to further enhance and protect our intellectual property portfolio through a series of additional patent applications, we were planning this fall to introduce the technology to a broader audience beyond the select few utilities that have been privy to its existence and features so far. But given the unfortunate circumstances and hardship being endured in places like Hawaii, California, Western Canada and other parts of the world we thought it was essential to expedite our product launch so other organizations can reach out directly to learn how we can assist".
The system owned by Camber and/or its joint venture partners differs from conventional technology in that it does not wait for a short circuit (or fault) to occur. Conventional technologies that have been used over the last 50 years rely on a short circuit to occur, meaning a conductor must either touch another conductor, touch ground or touch a grounded structure which causes a short circuit that conventional technology normally recognizes and shuts off the power source - this is too late to prevent an incendiary event.
Camber and its joint venture partners' products include software-based solutions that can be quickly and cost-effectively deployed within a utility's existing protective relay infrastructure, allowing the utility to protect its grid with greater confidence and reliability.
Existing Public Safety Power Shutdown Programs (PSPS) are Insufficient.
Differences between the PSPS and the Camber Protection Systems
More Information
To learn more about the Camber Protection System please visit www.camberprotection.com. For the utility companies that have not already reached out to Camber to discuss an initial assessment please email: info@camber.energy
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/778022/CamberEnergy-Offers-Utility-Companies-a-World-Leading-Solution-Designed-to-Reduce-Wildfires-and-Improve-Grid-Stability
HOUSTON, TX / ACCESSWIRE / August 18, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), is pleased to provide additional information with respect to its efforts to help identify and combat potential short selling of the Company's stock and protect the interests of its shareholders.
As previously disclosed, independent reports obtained by Camber suggest the following organizations continually have the largest trade imbalances regarding the trading of Camber's stock: (i) Merrill Lynch; (ii) TD Ameritrade; (iii) Charles Schwab; (iv) E-Trade; (v) Apex; (vi) Wedbush; and (vii) National Financial Services.
The contact information for the Chief Compliance Officer for each of the above-mentioned organizations, as reported on https://brokercheck.finra.org, is as follows:
| Name of Organization | Address | Chief Compliance Officer | Tel. No. |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | 4804 E Deer Lake Drive 4th Floor, Jacksonville, FL, 32246 | David A. Piscitelli | 800-637-7455 |
| TD Ameritrade Inc. | 200 S 108th Ave, Omaha, NE 68154 | Lynn Marie Konop |
800-669-3900 |
| Charles Schwab & Co., Inc. | 3000 Schwab Way, Westlake, TX 76262-8104 | Charles Nichols | 415-636-7000 |
| E-Trade Securities LLC | Harborside 2, 200 Hudson ST. Suite 501, Jersey City, NJ 07311 | James E. Karayanis | 201-499-9900 |
| Apex Clearing Corporation | One Dallas Center, 350 N. St. Paul Suite 1300, Dallas TX 75201 | John F. Robbins | 214-765-1100 |
| Wedbush Securities Inc. | 1000 Wilshire Blvd. Suite 900, Los Angeles, CA 90017-2457 | Erin K. Preston | 213-688-8090 |
| National Financial Services LLC | 245 Summer Street, Boston, MA 02210 | Janet M. Dyer | 617-563-7000 |
James Doris, President & CEO of Camber stated "Correspondence to these organizations often gets ignored. We encourage shareholders that have accounts with any of the above-mentioned organizations to contact the Compliance Officer and demand an immediate internal investigation. We prefer to work with these organizations amicably and collaboratively but they have to demonstrate they are firmly committed to eliminating all imbalances and preventing future occurrences."
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/775053/Camber-Energy-Provides-Additional-Info-to-Help-Combat-Illegal-Short-Selling
HOUSTON, TX / ACCESSWIRE / August 17, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), as previously disclosed, engaged Shareholder Intelligence Services LLC ("ShareIntel") as part of Camber's overall efforts to help identify and combat potential short selling of the Company's stock and protect the interests of its shareholders.
ShareIntel gathers and analyzes shareholder trading data through its DRIL-DownTM process, a technology platform that tracks bank, broker dealer and shareholder movement specifically to reveal suspicious, aberrant, and/or unusual trading activity. The tool aims to help identify, interpret, and communicate shareholder and broker-dealer movement to issuers.
After several months of analysis, reports suggest the following organizations continually have the largest trade imbalances regarding the trading of Camber's stock: (i) Merrill Lynch; (ii) TD Ameritrade; (iii) Charles Schwab; (iv) ETrade; (v) Apex; (vi) Wedbush; and (vii) National Financial Services.
James Doris, President & CEO of Camber stated "We intend to proceed to the next phase of our pursuit to extinguish unlawful trading activity and hold bad actors accountable. In the interim, we encourage shareholders that have accounts with any of the above-mentioned organizations to contact the Compliance Officer of the firm and demand an immediate internal investigation. A collaborative approach will the most effective."
About ShareIntel
ShareIntel-Shareholder Intelligence Services, LLC (SIS) is a patented compliance driven SaaS retained by public companies to track shareholder ownership and monitor critical broker-dealer and shareholder movement. DRIL-Down™ identifies participants to potential abusive and illegal short selling providing actionable intelligence.
About Camber Energy,Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc. ("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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
Contact Information
Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/774820/Camber-Energy-Provides-Update-on-Efforts-to-Combat-Illegal-Short-Selling
CEI Further Reduces Series C Pref. Stock & Improves Net Loss by ∼$63MM
HOUSTON, TX / ACCESSWIRE / August 11, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber") announced today the filing its Quarterly Report for the quarter ended June 30, 2023 (the "Q2 Report").
As noted in the press release issued by Camber on August 1st, 2023, concerning its merger with Viking Energy Group, Inc. ("Viking"), the Q2 Report does not include a consolidation of Viking's financial statements at the Camber level given the merger closed in the third quarter of this year. Rather, the Q2 Report accounts for Camber's previous investments in Viking under the equity method of accounting, consistent with previously filed financial reports. Consolidated reporting as it relates to Viking will be reflected in the Quarterly Report for the quarter ended September 30, 2023.
The Q2 Report notes a further reduction in outstanding shares of Series C Preferred Stock (i.e. 30 shares of such stock are outstanding as of today), and a net loss of ∼$425.3k as at June 30, 2023 as compared to a net loss of ∼$63.56 mm as at June 30, 2022.
"We are firmly committed to improving the company in all areas. Among other things, and as previously disclosed, we satisfactorily addressed legacy accounting issues related to prior management regimes, we have demonstrated we are disconnecting from prior financing structures and, with the Viking merger, we have established an active platform under the Camber umbrella that hasn't existed in many years. This is an entirely transformed organization.", commented James Doris, President & CEO of Camber.
Additional Details:
Additional details regarding the Q2 Report, and all descriptions above are qualified in their entirety by reference to, Camber's Quarterly Report on Form 10-Q filed on August 11, 2023, with the Securities and Exchange Commission and available under "investors" - "SEC filings" at www.camber.energy.
About Camber:
Camber Energy, Inc. is a growth-oriented diversified energy company. Through 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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
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Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/773773/Camber-Energy-Files-10-Q-for-Q2
ESG Clean Energy's Technology Designed to make C02-Capture Economically Viable
HOUSTON, TX / ACCESSWIRE / August 4, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber") is pleased to announce that new patents were issued and a new patent application was filed with respect to ESG Clean Energy, LLC's ("ESG") intellectual property portfolio. ESG, a developer of net zero carbon footprints and clean energy solutions for distributed power generation, has, as previously announced, licensed certain intellectual property and other rights to Camber's wholly-owned subsidiary, Viking Energy Group, Inc. ("Viking"), for exclusive use in all of Canada, and for multiple locations in the U.S.
Recently issued patents concerning ESG's Clean Energy System, which brings the total number of issued patents to eight, include United States Patent No. 11624307 titled ‘Systems and Methods Associated With Bottoming Cycle Power Systems for Generating Power and Capturing Carbon Dioxide', and European Patent No EP3728891 titled ‘Bottoming Cycle Power System' (validated in the United Kingdom, France and Germany).
"ESG Clean Energy's commitment to expanding and strengthening its IP portfolio further elevates our position in the power solutions and clean energy sectors. Not only can we assist commercial and industrial organizations with their power generation needs, we will also be able to help reduce their carbon footprint in a pragmatic, cost-effective manner," commented James Doris, President & CEO of Camber.
Regarding its newest patent application, on August 3, 2023 ESG issued a press release which stated, in part:
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Water - The Key to Carbon Capture
ESG Clean Energy Expands IP Portfolio with Filing of New Patent / ESG's technology makes carbon capture economically viable
WEST SPRINGFIELD, Mass. - (Aug. 3, 2023) - ESG Clean Energy is pleased to announce the filing of a new patent application with the US Patent & Trademark Office covering ESG Clean Energy's unique water removal system. The new filing is in addition to 8 previously issued patents with respect to ESG's Clean Energy System.
ESG is about to demonstrate, at an existing power project in Holyoke, Massachusetts, how its revolutionary system improves carbon capture.
[…]
When capturing CO2 either from the atmosphere or from a combustion process like a gas-fired power plant, a common issue that must be dealt with is the presence of water in the system. Water is always present in relatively large quantities. In the atmosphere water can be as much as 100 times the amount of CO2. In a combustion exhaust stream the water and CO2 are in about equal amounts that make up almost 40% of the total volume.
Water interferes with the capturing of CO2, making it much more difficult to regenerate or purge the medium that is capturing the CO2. Removing water from a gas mixture like the atmosphere or exhaust can be very complicated. In fact, there is a field of engineering called Psychrometrics that studies the physical and thermodynamic properties of similar gas-vapor mixtures. Removing the water from a gas mixture can take a large amount of energy and can require large and expensive equipment.
However, if the water can be removed without requiring large amounts of cost and energy, then carbon capture would be economically feasible and relatively easy to accomplish. It also can be applied to both large and small systems such as large power facilities or individual buildings.
ESG's system consists of a unique membrane condenser coupled with a hybrid absorption/compression cooling system. The technology involves many complex features including heterogenous nucleation, transport membrane condensers, dew points, saturation level, capillary condensation, and relative humidity.
Put simply, the technology can be described as a way of getting water to separate from a gas mixture in a similar way that water from the atmosphere forms dew on grass in the morning. The gas is cooled by a rather special heat exchanger that both cools the gas and separates the water by having it pass through a ceramic membrane. The water ends up on one side of the membrane while the rest of the gases remain on the other side. The cooled and dry exhaust then flows to a carbon capture system where the CO2 is captured without the interference of the water previously in the system.
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About Camber:
Camber Energy, Inc. is a growth-oriented diversified energy company. Through 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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
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Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/772251/Camber-Energys-Licensor-of-Carbon-Capture-Technology-Expands-One-of-A-Kind-IP-Portfolio
Camber Energy's stock-for-stock acquisition of Viking Energy is officially closed
HOUSTON, TX / ACCESSWIRE / August 1, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber") announced today the completion of its previously announced acquisition of Viking Energy Group, Inc. ("Viking"), pursuant to which Camber acquired all of the issued and outstanding securities of Viking not already owned by Camber. Effective August 1, 2023, Viking became a wholly-owned subsidiary of Camber, and Viking's securities ceased trading on the OTC:QB. Camber remains as the sole publicly-traded entity.
Viking brings to Camber a long-standing custom energy and power solutions business, along with a portfolio of diverse, ready-for-market technologies in the clean energy, carbon-capture, waste treatment and utility sectors. Most importantly, Viking brings an exemplary team of professionals, extensive industry relationships and additional opportunities for growth.
"We sincerely appreciate the patience and support of our stakeholders for affording us the opportunity to finally close this merger, and in no way do we view the acquisition as a ‘finish line' of any kind. Rather this is merely an early, albeit significant, step within our comprehensive plan to transform this organization into what we firmly believe will be a revolutionary and profitable participant in the energy industry," commented James Doris, President & CEO of Camber.
Additional Details:
Additional details regarding Camber's acquisition of Viking will be included in, and the description above is qualified in its entirety by, Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC"), which, once filed, will be available under "investors" - "SEC filings" at www.camber.energy. Given the transaction closed in the third quarter, the financial statements Camber intends to file on form 10-Q for the quarter ended June 30, 2023 (the "2nd Quarter 10-Q") will not include a consolidation of Viking's financial statements at the Camber level. Rather, the 2nd Quarter 10-Q will account for Camber's previous investments in Viking under the equity method of accounting, consistent with previously filed financial reports.
About Camber:
Camber Energy, Inc. is a growth-oriented diversified energy company. Through 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 through Viking, Camber holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
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Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
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https://www.accesswire.com/771089/Camber-Energy-Completes-Acquisition-of-Viking-Energy
HOUSTON, TX / ACCESSWIRE / July 24, 2023 / Camber Energy, Inc.'s (NYSE American:CEI) ("Camber" or the "Company") majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), announced today that Viking's majority-owned subsidiary, Viking Protection Systems, LLC ("Viking Protection"), received a Notice of Allowance from the United States Patent & Trademark Office ("USPTO") for utility patent application No. 17/672,422 titled "Electric Transmission Line Ground Fault Prevention Systems Using Dual, High Sensitivity Monitoring". This prospective patent is in addition to the prospective patent announced by Viking on May 30, 2023.
A Notice of Allowance is issued after the USPTO makes the determination that a patent should be granted from an application, and a patent from the recently allowed application is expected to be issued in the coming weeks.
James Doris, President & Chief Executive Officer of Camber and Viking, commented, "We continue to expand and strengthen our IP portfolio related to this important technology which will assist with much needed modernization and grid-stability initiatives around the world."
The prospective patents relate to Viking Protection's proprietary transmission line ground fault prevention systems, which are designed to detect a break in a transmission line, or coupling failure, and to immediately de-energize the line, thus preventing an energized high voltage transmission line from contacting ground or a grounded structure. The technology is designed to be an integral component within a much-needed, worldwide grid hardening and stability initiative by electric utilities to improve resiliency and reliability of existing infrastructure. Viking Protection's software-based solution can be deployed within a utility's existing protective relay infrastructure, allowing the utility to protect its grid with greater confidence and reliability.
About Camber:
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, 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. The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patent pending, proprietary Electric Transmission and Distribution Open Conductor Detection Systems. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
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. 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. 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. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
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Investors and Media:
Tel. 281.404.4387
SOURCE: Camber Energy, Inc.
View source version on accesswire.com:
https://www.accesswire.com/769786/Camber-Energys-Subsidiary-Announces-Notice-of-Allowance-for-Additional-Patent-Covering-Transmission-Line-Ground-Fault-Prevention-Systems