Camber Energy, Inc. (NYSEMKT:CEI) Files An 8-K Other Events
Item 8.01
| Other Events |
On February 24, 2017, the Company issued a press release
announcing the execution of a purchase and sale agreement with
private sellers to acquire oil and gas leases covering
approximately 15,500 gross acres (13,750 net acres) in the
Permian Basin for $11.03 million. A copy of the press release is
filed herewith as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits. |
Exhibits
| *99.1 |
Press release issued on February 24, 2017 regarding Permian PSA. |
* Filed herewith.
About Camber Energy, Inc. (NYSEMKT:CEI)
Camber Energy, Inc., formerly Lucas Energy, Inc., is an independent oil and natural gas company. The Company is engaged in the acquisition and development of crude oil and natural gas from various known productive geological formations, including the Austin Chalk and Eagle Ford formations, primarily in Gonzales, Wilson and Karnes Counties, south of the city of San Antonio, Texas. As of March 31, 2016, the Company had leasehold interests (working interests) in approximately 8,395 gross acres or 8,309 net acres. Its total net developed and undeveloped acreage as measured from the surface to the base of the Austin Chalk formation is approximately 8,310 net acres. In deeper formations, it had approximately 1,909 net acres in the Eagle Ford oil window. As of March 31, 2016, the Company had produced an average of approximately 61 net barrels of oil equivalent per day (Boepd) from 26 active well bores. Camber Energy, Inc. (NYSEMKT:CEI) Recent Trading Information
Camber Energy, Inc. (NYSEMKT:CEI) closed its last trading session up +0.130 at 0.840 with 443,834 shares trading hands.
