Camber Energy, Inc. cancelled the acquisition of an asset located in Greely and Hamilton Counties, Kansas.
March 20, 2019
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Camber Energy, Inc. (AMEX:CEI) entered into a non-binding memorandum of understanding to acquire an asset located in Greely and Hamilton Counties, Kansas for $4 million on November 30, 2018. The consideration for the acquisition will be paid in the form of common stock of Camber Energy, Inc. As a part of the transaction, Camber Energy, Inc. will acquire working interests which include up to approximately 30,000 net leasehold acres in Greely and Hamilton Counties, Kansas, 181 non-producing well bores and also some existing production and the required infrastructure and equipment necessary to support future hydrocarbon production. The closing of the transaction is subject to customary closing conditions, negotiation of final transaction documents and transaction terms, and other conditions. The transaction is expected to close in December 2018.
Camber Energy, Inc. (AMEX:CEI) cancelled the acquisition of an asset located in Greely and Hamilton Counties, Kansas on March 20, 2019. Camber Energy has completed its due diligence and no definitive agreements were entered.
Camber Energy, Inc. is a diversified energy company. Through its wholly owned subsidiary, Viking Energy Group, Inc., the Company provides custom energy and power solutions to commercial and industrial clients in North America, holds a license in Canada to a patented carbon-capture system, and has a majority interest in 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 entities with the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. It is also exploring other renewable energy-related opportunities and/or technologies. It owns leasehold interests in properties produced from the Cline and Wolfberry formations in Texas. It also provides combined heat and power (CHP), tier 4 final diesel and natural gas industrial engines, solar, wind and storage.