Camber Energy, Inc. (NYSEMKT:CEI) Files An 8-K Other Events
Item 8.01
| Other Events |
On May 2, 2017, Camber Energy, Inc. (the Company) issued a press
release announcing the assignment of its previously-announced
purchase and sale agreement (the PSA) 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,
along with the retention of certain rights respecting the assets
covered by the PSA. A copy of the press release is filed herewith
as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibits | |
|
*99.1Press release issued on May 2, 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 down -0.011 at 0.301 with 911,987 shares trading hands.
