Core Viewpoint - Coelacanth Energy Inc. has received all regulatory approvals for the construction of the Two Rivers East Project and has finalized a processing agreement with NorthRiver Midstream Inc. for gas processing services [19][20]. Project Overview - The Two Rivers East Project has an estimated total cost of $80 million, with $50 million allocated for the construction of the Facility [2]. - The Facility will be designed for gas compression/dehydration, oil treating, and water handling, along with gathering and transport lines [20]. - Manufacturing of components for the Facility has already begun, with construction scheduled from fall 2024 through April 2025 [2]. Production Estimates - Initial production from the 5-19 Pad is estimated at 4,500 boe/d, which includes three Lower Montney wells, one Basal Montney well, and one legacy Lower Montney well [21]. - The average production rate for the three Lower Montney wells was 1,338 boe/d per well, consisting of 729 bbls/d of light sweet oil and 3.7 mmcf/d of liquids-rich gas [3][21]. Midstream Agreement - Coelacanth has secured long-term takeaway capacity of over 60 mmcf/d of gas to be delivered into the Westcoast system [3]. - The processing agreement with NorthRiver Midstream Inc. includes up to 60 mmcf/d of firm processing service at NRM's McMahon gas processing facility for a period of 10 years [21].

Core Viewpoint - Zacks Investment Research has initiated coverage of Camber Energy, Inc. (CEI) with a "Neutral" recommendation, reflecting a mixed outlook for the company amid its progress in the diversified energy sector despite industry challenges [1] Company Overview - Camber Energy, based in Houston, TX, is a diversified energy company that offers custom energy and power solutions in North America. The company holds a majority interest in patented technologies, including a medical and bio-hazard waste treatment system utilizing ozone technology and electric transmission and distribution open conductor detection systems. Additionally, it has exclusive licensing for a patented clean energy and carbon-capture system in Canada and the United States [2] Financial Performance - Following its merger with Viking Energy Group, Camber Energy has shown significant revenue growth, reporting a 14.5% year-over-year increase in first-quarter 2024 revenues, indicating successful integration and operational synergies post-merger. This positions the company for ongoing financial improvement and operational expansion [3] Growth Potential - Camber Energy's portfolio includes carbon capture and bio-hazard waste treatment technologies, positioning it for multiple growth avenues. The company holds exclusive licenses for patented carbon-capture systems in Canada and is advancing renewable energy solutions, enhancing its market position. Its involvement in developing advanced technologies aligns with the global shift toward sustainable energy solutions, positioning the company for long-term growth [4] - Key factors driving CEI's future growth include a focus on innovation, particularly in ozone technology for medical and bio-hazard waste treatment. The global energy sector is transitioning toward renewable energy, supported by favorable regulations, creating a conducive environment for Camber Energy's growth. With global power demand expected to rise and renewables projected to double in the power mix over the next 20 years, Camber Energy is well-positioned to capitalize on these trends through its diversified energy offerings [5] Market Positioning - Camber Energy's stock has underperformed compared to industry peers and the broader market over the past year. Currently trading at low valuation multiples relative to industry standards, the stock presents potential upside for investors, especially considering CEI's strategic market positioning and potential for profitability improvements [7] Market Capitalization - The company has a modest market capitalization of $29.9 million, which aims to provide investors with the necessary information to make informed decisions in this promising but inherently risky segment of the market [8]

Mergers and Acquisitions - Camber Energy, Inc. completed the merger with Viking Energy Group, Inc. on August 1, 2023, with Viking becoming a wholly owned subsidiary[145]. - The company acquired approximately 60.5% of Simson-Maxwell for $7,958,159, enhancing its custom energy solutions offerings[130]. - The company issued approximately 49,290,152 shares of Camber Common Stock in connection with the merger, representing approximately 59.99% of the outstanding Camber Common Stock post-issuance[146]. - The company reserved approximately 88,647,137 additional shares of Camber Common Stock for potential conversions and exercises related to the merger[146]. Financial Performance - The company recorded a net loss of $755,506 from the sale of oil and gas properties in Texas for gross proceeds of $205,000[140]. - In 2023, the company gained $854,465 from the sale of oil and gas assets in Kansas and Texas, with total proceeds of $751,450[142]. - The company reported a net loss of $(26,351,568) for the three months ended March 31, 2024, compared to a net loss of $(1,632,327) for the same period in 2023, representing an increase in loss of approximately 1,517%[147]. - Gross revenues increased by $1,048,343 or 14%, totaling $8,292,532 for the three months ended March 31, 2024, compared to $7,244,189 in the prior year[149]. - Operating expenses rose by $2,059,601 to $10,284,446 for the three months ended March 31, 2024, up from $8,224,845 in the same period in 2023[149]. - The loss from operations for the three months ended March 31, 2024, was $(1,991,914), compared to $(980,656) for the same period in 2023[149]. - The company had a working capital deficiency of $14,246,826 as of March 31, 2024, with current liabilities of $29,814,925 compared to current assets of $15,568,099[147]. - Net cash used in operating activities increased to $(1,185,014) for the three months ended March 31, 2024, compared to $(948,129) in the same period in 2023[149]. - The company generated net cash provided by investing activities of $162,596 during the three months ended March 31, 2024, compared to $(25,726) in the prior year[149]. - The company had long-term debt of $40,854,502 and stockholders' equity of $20,156,132 as of March 31, 2024[147]. Energy Solutions and Technology - The ESG Clean Energy System is designed to capture approximately 100% of CO2 emissions from internal combustion engines, utilizing waste heat for efficiency[136]. - Viking Ozone, acquired in January 2022, holds a patented medical waste treatment system using ozone technology, providing a sustainable alternative to incineration[137]. - The company holds licenses for patented electric transmission and distribution open conductor detection systems aimed at enhancing public safety[138]. - Simson-Maxwell has been operational for over 80 years, providing a range of energy solutions including combined heat and power systems[130]. - The company is exploring renewable energy opportunities that are currently generating or have the potential to generate revenue[130]. - The company has divested from all oil and gas properties as of March 31, 2024, focusing on energy technology and solutions[139]. Revenue Recognition - Oil and gas revenues are recognized when production is sold to customers, with performance obligations satisfied upon transfer of control, which includes delivery of oil, gas, or natural gas liquids[153]. - The company holds a 60.5% ownership in Simson-Maxwell, which manufactures and sells power generation products and services, recognizing revenue upon transfer of control to the customer[154]. Asset Management - Asset retirement obligations (ARO) represent the estimated present value of costs to plug, abandon, and remediate producing properties, calculated using significant assumptions including inflation and risk-adjusted interest rates[153].

Largeacceleratedfiler Non-acceleratedFiler We file annual, quarterly, and current reports, proxy statements and other information with the Securities and Exchange Commission ("SEC"). Our SEC filings are available to the public over the Internet at the SEC's website at www.sec.gov and are available for download, free of charge, soon after such reports are filed with or furnished to the SEC, on the "Investors," "SEC Filings" page of our website at www.camber.energy. Information on our website is not part of t ...

Revenue and Financial Performance - Revenue from power generation units and parts increased to $6,742,182 for Q3 2023, up from $3,278,966 in Q3 2022, representing a 106% growth[30] - Total revenue for the nine months ended September 30, 2023, was $24,407,583, compared to $18,666,268 in the same period of 2022, a 31% increase[30] - Revenue from power generation units and parts for the nine months ended September 30, 2023, was $14,502,388, compared to $6,913,093 for the same period in 2022[30] - Service and repairs revenue for the nine months ended September 30, 2023, was $9,199,965, compared to $8,086,449 for the same period in 2022[30] - Oil and gas sales revenue for the nine months ended September 30, 2023, was $705,230, compared to $3,666,726 for the same period in 2022[30] - Simson-Maxwell's revenue from power generation units for the three months ended September 30, 2023, was $4,849,415, a significant increase from $2,082,218 in the same period in 2022[83] - Simson-Maxwell's total revenue from units and parts for the nine months ended September 30, 2023, was $14,502,388, compared to $6,913,093 in the same period in 2022[83] - Simson-Maxwell's service and repairs revenue for the nine months ended September 30, 2023, was $9,199,965, up from $8,086,449 in the same period in 2022[83] - The company's total revenue for the nine months ended September 30, 2023, was $23,702,353, compared to $14,999,542 in the same period in 2022[83] - Oil revenues for September 2023 were $213,609, a decrease from $337,665 in September 2022, while total oil revenues for 2023 reached $604,870 compared to $1,956,461 in 2022[107] - Natural gas and natural gas liquids revenues for September 2023 were $14,615, a significant improvement from a loss of $235,479 in September 2022, with total revenues for 2023 at $978,971[107] - Well operations revenues for September 2023 were $5,600, down from $15,668 in September 2022, but total revenues for 2023 increased to $731,294[107] - Total power generation revenues for September 2023 were $233,824, up from $117,854 in September 2022, with total revenues for 2023 reaching $3,666,726[107] - The Company's total revenue for the nine months ended September 30, 2023 was $18,666,268, with $14,999,542 from the Power Generation segment and $3,666,726 from the Oil and Gas segment[168] Operating Expenses and Costs - Total operating expenses for Q3 2023 were $10,131,070, compared to $6,160,706 in Q3 2022, a 64% increase[30] - Cost of goods sold for the nine months ended September 30, 2023, was $16,256,686, up from $9,871,239 in the same period of 2022, a 65% increase[30] - General and administrative expenses for the nine months ended September 30, 2023, were $10,064,707, compared to $11,208,417 in the same period of 2022, a 10% decrease[30] - Operating expenses for the nine months ended September 30, 2023, were $24,407,583, compared to $18,666,268 for the same period in 2022[30] - Lease operating costs for the nine months ended September 30, 2023, were $534,123, compared to $1,429,847 for the same period in 2022[30] - Total operating expenses for the nine months ended September 30, 2023, were $27,621,176, compared to $25,558,367 for the same period in 2022[43] - The Company's total operating expenses for the nine months ended September 30, 2023 were $25,558,367, resulting in a loss from operations of $6,892,099[168] Net Loss and Comprehensive Loss - Net loss for the nine months ended September 30, 2023, was $25,272,428, compared to a net loss of $25,206,073 in the same period of 2022[32] - The Merger resulted in a net loss of $22,364,088 for the three months ended September 30, 2023[43] - Total comprehensive loss for the three months ended September 30, 2023, was $22,352,701[43] - The company recorded a net loss of $25,272,428 for the nine months ended September 30, 2023, compared to a net loss of $14,695,711 for the same period in 2022[52] - Net loss for the period was $(25,272,428)[32] - Net loss for the nine months ended September 30, 2023, was $25,272,428, compared to $14,695,711 for the same period in 2022[43] - The company reported a loss from operations of $3,213,593 for the period, with total operating expenses of $27,621,176[141] Cash Flow and Financing Activities - Net cash provided by financing activities for the nine months ended September 30, 2023, was $3,012,047, compared to a net cash used of $2,760,347 in the same period of 2022[32] - Cash and cash equivalents at the end of Q3 2023 were $1,432,599, down from $4,902,157 at the end of Q3 2022[32] - Net cash provided by financing activities was $3,012,047, compared to a net cash used in financing activities of $(2,760,347) in the previous period[32] - Cash, end of period decreased to $1,432,599 from $4,902,157 in the previous period[32] - Issuance of shares on conversion of debt amounted to $3,832,273[32] - Net cash used in operating activities for the nine months ended September 30, 2023, was $4,961,874, compared to $2,108,542 for the same period in 2022[43] - Cash paid for interest was $421,754[32] Stockholders' Equity and Debt - Total stockholders' equity as of September 30, 2023, was $29,189,192, compared to $15,365,315 as of December 31, 2022[32] - The company issued $3,832,273 worth of shares on conversion of debt during the nine months ended September 30, 2023[32] - As of September 30, 2023, the company had stockholders' equity of $29,189,192 and long-term debt of $38,849,855[52] - The company's working capital deficiency as of September 30, 2023, was $9,451,778, primarily due to Simson-Maxwell's bank credit facility drawings of $4,324,791[52] - The company's long-term debt includes a $26,315,789 note payable to Discover Growth Fund, with an interest rate of 3.25%[124] - The total long-term debt, net of current portion and debt discount, was $38,849,855 as of September 30, 2023[102] - Principal maturities of long-term debt for 2027 amount to $46,818,858, with a net value of $36,292,978 after unamortized discount[102] Mergers and Acquisitions - The Merger was completed on August 1, 2023, with Viking surviving as a wholly owned subsidiary of Camber[45] - Camber issued approximately 49,290,152 shares of Camber Common Stock, representing 59.99% of the outstanding shares post-Merger[35] - Camber reserved approximately 88,647,137 additional shares for potential conversions and exercises related to preferred stock and convertible notes[35] - The Merger is treated as a reverse acquisition, with Viking as the acquirer, and consolidated financial statements reflect Viking's results up to the Merger date and combined results from August 1, 2023, to September 30, 2023[175] - Viking acquired 60.5% of Simson-Maxwell Ltd. for $7,958,159 in cash on August 6, 2021[48] - Viking acquired a 51% ownership interest in Viking Ozone, Viking Sentinel, and Viking Protection in early 2022[53] - Viking acquired 51% of Viking Ozone for 8,333,333 shares of common stock, with a fair value of approximately $2,000,000[118] - Viking acquired 51% of Viking Sentinel for 416,667 shares of common stock, with a total consideration of $233,334[118] - The total consideration for the acquisition of Viking Sentinel was $5,373,223, including $4,433,334 in stock and $939,889 in contingent consideration[119] - Camber Energy completed the merger with Viking Energy Group, Inc. on August 1, 2023, with Viking surviving as a wholly owned subsidiary[45] - Camber Energy holds a majority interest in entities with intellectual property rights to proprietary Medical and Bio-Hazard Waste Treatment systems and Electric Transmission and Distribution Open Conductor Detection Systems[47] Goodwill and Intangible Assets - Goodwill impairment for the nine months ended September 30, 2023, amounted to $14,486,745[43] - The company's goodwill impairment for the nine months ended September 30, 2023, was $14,486,745[52] - The company's intangible assets related to the ESG Clean Energy license and Simson-Maxwell customer relationships are being amortized over 16 and 10 years, respectively[60] - The ESG Clean Energy License intangible asset was valued at $5,000,000 as of September 30, 2023, with accumulated amortization of $653,755[94] - The company paid $500,000 and issued 6,942,691 shares of common stock to ESG as part of the royalty payments for the ESG Clean Energy License[92] - The company's intangible assets include customer relationships and brand from Simson-Maxwell, though specific values were not disclosed[94] - The company recognized amortization expense of $230,886 for the nine months ended September 30, 2023, with estimated future amortization expense of $304,465 per year for the next five years[23] - The company allocated $1,677,453 to Customer Relationships and $2,230,673 to the Simson-Maxwell Brand as part of the purchase price of Simson-Maxwell[23] Derivative Liabilities and Stock Issuance - The company's derivative liabilities for Series C Preferred Stock and Convertible Debt resulted in total losses of $5,803,791 for the nine months ended September 30, 2023[55] - The company recorded a derivative liability of $3,319,210 as of September 30, 2023[127] - The Series C Preferred Stock has a beneficial ownership limitation preventing any holder from converting into common stock if it would result in owning more than 9.99% of the company's outstanding common stock[132] - The company issued a total of 93,876,128 shares of common stock during the nine months ended September 30, 2023, including 8,525,782 shares from the conversion of Series C Preferred Stock and 19,251,650 true-up shares related to prior conversions of Series C Preferred Stock[129] - The Series C Preferred Stock contains an embedded derivative liability related to the Conversion Premium and potential True-Up shares, with fair value estimated using a binomial pricing model[184] - The fair value of the Series C Preferred Stock derivative liability is estimated using a binomial pricing model, considering the remaining Measurement Period, share price, and historical volatility of the company's common stock[151] - As of September 30, 2023, the company estimates that 6,701,867 shares of common stock would be required to satisfy the conversion of 30 outstanding shares of Series C Preferred Stock, based on an estimated low VWAP[159] - The company could be required to issue an additional 27,913,399 true-up shares as of September 30, 2023, due to the extended Measurement Period and declining stock price following prior conversions of 240 shares of Series C Preferred Stock[159] - The Series C Preferred Stock holders are entitled to cumulative dividends of 24.95% per annum, adjustable up to 34.95% if a Trigger Event occurs, with seven years of dividends due upon redemption, conversion, or maturity[155] - The Series G Preferred Stock, created on December 30, 2021, has a face value of $10,000 per share and accrues cumulative dividends at a rate of 10.0% per annum, payable upon redemption, conversion, or as declared by the board of directors[159] - The Series G Preferred Stock ranks senior to the company's common stock but junior to the Series C Preferred Stock and all existing and future indebtedness of the company[159] - The company issued 28,092 shares of new Series A Preferred Stock on August 1, 2023, in exchange for 28,092 outstanding shares of old Series C Preferred Stock, with each share convertible into 890 shares of Camber Common Stock[154] - The Company issued 475 shares of new Series H Preferred Stock in exchange for 475 outstanding shares of old Series E Preferred Stock, with each share having a face value of $10,000[161] - The Company redeemed 5,272 shares of Series G Preferred Stock in 2022, reducing the outstanding shares from 10,544 to 5,272[160] Legal and Regulatory Matters - The company faced a Class Action Complaint related to a short report, which was dismissed with prejudice on October 25, 2023[16] - A Shareholder Derivative Complaint remains pending, with a Special Litigation Committee formed to investigate allegations, and the outcome remains uncertain[16] - The Company does not currently maintain controls and procedures to ensure timely disclosure of required information under the Exchange Act[15] Inventory and Asset Management - The company's inventory as of September 30, 2023, was valued at $9,533,284, down from $10,276,662 at the end of 2022[56] - The company's inventory valuation method includes adjusting for obsolete and slow-moving items at the end of each reporting period[77] - The company sold oil and gas assets for $3,590,000 in cash, resulting in a loss of $8,961,705[50][51] - The company recorded a loss on disposal of oil and gas properties of $8,961,705 in 2022[72] - The company added $1,475,000 to oil and gas properties during the three months ended September 30, 2023, related to the merger with Camber[92] - The company's proved reserve estimates are based on U.S. SEC guidelines, with future net cash flows calculated using the unweighted arithmetic average of the prior 12-month commodity prices[180] - Proved developed producing oil and gas properties, net, increased to $2,409,745 as of September 30, 2023, from $1,069,113 at December 31, 2022[114] - Undeveloped and non-producing oil and gas properties, net, decreased to $186,102 as of September 30, 2023, from $216,805 at December 31, 2022[114] Leases and Operating Expenses - Total lease payments due over the next five years amount to $1,201,563 for 2024, $749,506 for 2025, $431,130 for 2026, $412,047 for 2027, and $990,426 for 2028 and thereafter[139] - Operating lease expense for Simson-Maxwell was $918,655 for the nine months ended September 30, 2023, down from $1,106,220 in the same period in 2022[164] - The Company's subsidiary, Petrodome, entered into a 66-month lease for 4,147 square feet of office space in Houston, Texas, with an annual base rent of $22.00 per square foot, escalating by $0.50 per foot each year[163] - The Company's operating lease expense for Petrodome's office space was $72,287 for the nine months ended September 30, 2023[163] - The Company's right-of-use assets and operating lease liabilities for Simson-Maxwell were $5,845,810, with a present value discount rate of 3.45% for premises and 7.5% for vehicles and equipment[163] Related Party Transactions - The Company's total notes payable to related parties as of September 30, 2023, was $975,744[123] - The Company's net due to related parties as of September 30, 2023, was $(300,948), compared to $(301,941) as of December 31, 2022[146] - The Company paid $310,000 in fees to AGD Advisory Group, Inc. for professional services during the nine months ended September 30, 2023[121] - The Company paid $190,000 in fees to 1508586 Alberta Ltd. for professional services during the nine months ended September 30, 2023[121] Other Financial Metrics - The company's change in fair value of derivative liability was $5.80 million for the nine months ended September 30, 2023[52] - The company's loss on extinguishment of debt was $605,507 for the nine months ended September 30, 2023[52] - The company's amortization of debt discount was $873,776 for the nine months ended September 30, 2023[52] - The company's depreciation, depletion, and amortization was $698,061 for the nine months ended September 30, 2023[52] - The company recorded a loss on the extinguishment of debt of $154,763 during the three-month period ended

41 From time to time, the Company may be involved in litigation relating to claims arising out of commercial operations in the normal course of business. As of June 30, 2023, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of operations. The defendants deny the allegations contained in the Class Action Complaint and Houston Complaint and have engaged Baker Botts L.L.P. to defend the actions. ITEM 1A. RISK FACTORS The Company issued a to ...

On the Dividend Maturity Date, the Corporation may redeem any or all shares of Series G Preferred Stock by paying Holder, in registered or unregistered shares of common stock valued at an amount per share equal to 100% of the Liquidation Value for the shares redeemed, and the Corporation will use its best efforts to register such shares. 28 Warrants | --- | --- | --- | --- | --- | --- | --- | |-------------|-------|-------|-------------|-----------------------|-------|------------| | Outstanding | | | Price ...

Play. A set of known or postulated oil and/or natural gas accumulations sharing similar geologic, geographic and temporal properties, such as source rock, migration pathways, timing, trapping mechanism and hydrocarbon type. Probable reserves. Additional reserves that are less certain to be recognized than proved reserves but which, in sum with proved reserves, are as likely as not to be recovered. Properties. Natural gas and oil wells, production and related equipment and facilities and natural gas, oil or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2022 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 000-29219 CAMBER ENERGY, INC. (Exact name of registrant as specified in its charter) Nevada 20-2660243 (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 000-29219 CAMBER ENERGY, INC. (Exact name of registrant as specified in its charter) Nevada 20-2660243 (State or other jurisdiction of i ...