Core Points - Coelacanth Energy Inc. has approved the granting of stock options and restricted share units to its directors, officers, employees, and consultants [1][2] - The total number of stock options granted is 3,877,378, and the total number of restricted share units granted is 2,657,622 [1] - The stock options are exercisable for five years at a price of $0.81 per common share, with a vesting schedule of 33⅓% after one year and the remainder vesting annually [2] - The restricted share units are exercisable for three years at no additional cost, with a similar vesting schedule [2] - After the grants, Coelacanth has a total of 22,697,637 options and 8,460,065 RSUs outstanding, which represents approximately 5.86% of the issued and outstanding common shares [3]

Core Viewpoint - Coelacanth Energy Inc. has successfully completed and tested four additional wells at its Two Rivers East Project, demonstrating significant production rates and potential for future development in the Montney formation [1][7]. Lower Montney - Three new Lower Montney wells (F5-19, G5-19, H5-19) were drilled with an average horizontal length of 3,285 meters and completed with approximately 2.5 tons of sand per horizontal meter [2]. - The average production rate for these wells was 1,624 barrels of oil equivalent per day (boepd) per well, consisting of 989 barrels per day (bbls/d) of light sweet oil and 3.8 million cubic feet per day (mmcf/d) of liquids-rich gas [3]. - The production rates from the new wells were significantly higher than the previous three wells on the pad, which had an average test rate of 1,338 boepd, including 729 bbls/d of light oil [3]. Upper Montney - The Upper Montney well (B5-19) was drilled with a horizontal length of 2,647 meters and achieved a production rate of 1,136 boepd, comprised of 271 bbls/d of light oil and 5.2 mmcf/d of liquids-rich gas [4]. - The B5-19 well was shorter in horizontal length and had fewer frac stages compared to the Lower Montney wells, indicating potential for future optimization [4][5]. Infrastructure & Takeaway - Coelacanth has secured long-term takeaway and processing capacity for up to 60 mmcf/d of gas and is constructing the necessary facilities and pipelines for the 5-19 and subsequent pads, with initial testing expected to start in late April 2025 [6]. Overall Development - The results from the recent wells are seen as a significant advancement in the development of Coelacanth's Upper Montney and Lower Montney resources, expanding the productive area and enhancing overall productivity [7].

Revenue and Financial Performance - Total revenue for the nine months ended September 30, 2024, was $25.41 million, compared to $24.41 million for the same period in 2023[4] - Revenue for the nine months ended September 30, 2024, increased by 4% to $25.4 million compared to $24.4 million in 2023, driven by higher power segment revenues[120] - Revenue for the three months ended September 30, 2024, decreased by 29% to $7.2 million compared to $10.1 million in 2023, primarily due to an unusually large sale in the prior year[119] - Revenue from power generation units and parts for the nine months ended September 30, 2024, was $15,998,386, compared to $14,502,388 for the same period in 2023[4] - Revenue from service and repairs for the nine months ended September 30, 2024, was $9,314,762, compared to $9,199,965 for the same period in 2023[4] - Oil and gas sales revenue for the nine months ended September 30, 2024, was $97,357, compared to $705,230 for the same period in 2023[4] - Power generation units revenue for the nine months ended September 30, 2024, was $12,964,409, compared to $10,416,808 in the same period in 2023[45] - Parts revenue for the nine months ended September 30, 2024, was $3,033,977, compared to $4,085,580 in the same period in 2023[45] - Total units and parts revenue for the nine months ended September 30, 2024, was $15,998,386, compared to $14,502,388 in the same period in 2023[45] - Service and repairs revenue for the nine months ended September 30, 2024, was $9,314,762, compared to $9,199,965 in the same period in 2023[45] - Total revenue for the nine months ended September 30, 2024, was $25,313,148, compared to $23,702,353 in the same period in 2023[45] - Power generation units revenue for the three months ended September 30, 2024, was $3,029,038, compared to $4,849,415 in the same period in 2023[45] - Parts revenue for the three months ended September 30, 2024, was $883,335, compared to $1,892,767 in the same period in 2023[45] - Total units and parts revenue for the three months ended September 30, 2024, was $3,912,373, compared to $6,742,182 in the same period in 2023[45] - Service and repairs revenue for the three months ended September 30, 2024, was $3,282,781, compared to $3,155,064 in the same period in 2023[45] - Total revenue for the three months ended September 30, 2024, was $7,195,154, compared to $9,897,246 in the same period in 2023[45] Net Loss and Comprehensive Loss - Net loss for the nine months ended September 30, 2024, was $63.94 million, compared to a net loss of $10.79 million for the same period in 2023[5] - Net loss for the nine months ended September 30, 2024, was $63,944,509, compared to $10,785,683 for the same period in 2023[6] - Total comprehensive loss for the nine months ended September 30, 2024, was $63,989,167, compared to $10,664,188 for the same period in 2023[6] - Net loss for the nine months ended September 30, 2024, was $34,267,479[11] - Net loss for the nine months ended September 30, 2023, was $8,175,563[14] - The company reported a net loss of $63.9 million for the nine months ended September 30, 2024, compared to a net loss of $10.8 million for the same period in 2023[116] - The company reported a net loss of $34.8 million for the three months ended September 30, 2024, compared to a net loss of $7.9 million in 2023, driven by a goodwill impairment of $34.9 million[120] Cash and Cash Equivalents - Cash and cash equivalents decreased to $451,415 as of September 30, 2024, from $906,060 as of December 31, 2023[3] - Net cash used in operating activities for the nine months ended September 30, 2024, was $1,454,022, compared to $4,840,379 for the same period in 2023[7] - Cash flows from financing activities provided $860,831 for the nine months ended September 30, 2024, compared to $3,012,047 for the same period in 2023[8] - Cash at the end of the period for September 30, 2024, was $451,415, compared to $1,432,599 for the same period in 2023[8] - Net cash used in operating activities was $1.5 million for the nine months ended September 30, 2024, compared to $4.8 million in 2023, with a decrease in cash during the period to $451,415 from $1.4 million[119] - Cash decreased from $906,060 as of December 31, 2023, to $451,415 as of September 30, 2024[3] Goodwill and Intangible Assets - Goodwill impairment of $34.86 million was recorded in the nine months ended September 30, 2024[5] - Goodwill impairment and change in fair value of derivative liability adjustments totaled $34,860,411 and $18,573,289, respectively, for the nine months ended September 30, 2024[7] - Goodwill impairment charge of $34,860,411 recorded for the three months ended September 30, 2024, representing the entire goodwill balance[51] - The Company recorded a goodwill impairment charge of $34,860,411 for the three months ended September 30, 2024, due to a significant decline in stock price and delisting from a national stock exchange[51] - Goodwill is subject to impairment testing at least annually, with the option to first assess qualitative factors before proceeding to a quantitative test comparing fair value to carrying value[40] - Intangible assets related to the ESG Clean Energy license are amortized over 16 years, while Simson-Maxwell customer relationships are amortized over 10 years[41] - Intangible assets from the Simson-Maxwell acquisition include customer relationships valued at $3,908,126, amortized over 10 years, and the Simson-Maxwell brand, which is not amortized[127] - The acquisition of a 51% interest in Viking Ozone, Viking Sentinel, and Viking Protection resulted in aggregate intangible assets of $15,433,340, which have an indefinite life and are not amortized[128] - The ESG Clean Energy License intangible asset valued at $5,000,000 with accumulated amortization of $963,295 as of September 30, 2024[57] - Estimated future amortization expense for ESG Clean Energy License is $304,465 per year for the next five years[58] - Simson-Maxwell Brand and Customer Relationships valued at $2,230,673 and $1,677,453 respectively, with estimated future amortization of $167,745 per year for Customer Relationships[58] Operating Expenses - Total operating expenses for the nine months ended September 30, 2024, were $30.80 million, compared to $27.62 million for the same period in 2023[4] - The company's operating expenses increased by $3.2 million to $30.8 million for the nine months ended September 30, 2024, compared to $27.6 million in 2023, primarily due to increased power segment sales[120] - The company's operating expenses decreased by $1.6 million to $9.1 million for the three months ended September 30, 2024, compared to $10.7 million in 2023[119] - The company's total operating expenses for the nine months ended September 30, 2024, were $30,801,256, with oil and gas segment expenses at $3,749,935 and power generation segment expenses at $27,051,321[101] - The company's general and administrative expenses for the nine months ended September 30, 2024, were $11,990,210, with oil and gas segment expenses at $3,144,693 and power generation segment expenses at $8,845,517[101] Stock and Equity - Loss per share of common stock for the nine months ended September 30, 2024, was $0.35, compared to $0.18 for the same period in 2023[5] - Common shares issued on true-up of Series C preferred stock for the nine months ended September 30, 2024, totaled 36,103,638 shares[10] - Common shares issued on true-up of Series C preferred stock increased by 36,103,638 shares, amounting to $36.104 million[10] - Common shares issued on conversion of debt totaled 19,907,976 shares, amounting to $19.908 million[10] - Additional paid-in capital increased to $155,913,262 as of September 30, 2024[10] - Common shares issued on conversion of Series H preferred stock amounted to 3,333,333 shares, totaling $3.333 million[13] - Common shares issued on true-up of Series C preferred stock in 2023 amounted to 11,900,223 shares, totaling $11.900 million[13] - The company issued a total of 116,834,937 shares of common stock during the nine months ended September 30, 2024, including 89,149,679 True-Up shares and 19,907,976 shares from debt conversion[82] - 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[83] - The conversion rate for Series C Preferred Stock is 95% of the average of the lowest 5 daily VWAPs during the Measuring Period, not exceeding 100% of the lowest sales price on the last day of the Measuring Period[85] - The Series C Preferred Stock has a maturity date of seven years after issuance, after which remaining shares will automatically convert into common stock if sufficient shares are available[85] - Camber filed an amendment to the Series C COD on October 31, 2022, adjusting the conversion rate calculation and waiving additional shares due to Equity Condition failures[85] - Discover waived all rights to receive additional Conversion Shares and convert Promissory Notes into common stock, effective November 3, 2022[86] - As of September 30, 2024, Antilles held 30 shares of Series C Preferred Stock, convertible into common stock at a floor price of $0.15 per share[86] - The fair value of 101,585,980 True-Up shares due from prior conversions was $16,253,757 as of March 25, 2024, with 43,574,679 shares remaining by September 30, 2024[87] - Series G Preferred Stock has a face value of $10,000 per share and accrues cumulative dividends at 10.0% per annum[90] - In 2022, the Company redeemed 5,272 shares of Series G Preferred Stock, reducing outstanding shares from 10,544 to 5,272[91] - As of September 30, 2024, 2,641,416 warrants were outstanding with a weighted average exercise price of $0.21 and a remaining contractual life of 2.60 years[94] - Series H Preferred Stock was issued at $10,000 per share, with 475 shares converted into 7,916,666 shares of common stock by September 30, 2024[92] - The company increased the exercise price of James Doris' outstanding warrants from $0.009 per share to $1.00 per share on October 23, 2024[101] Mergers and Acquisitions - Camber Energy completed a merger with Viking Energy Group on August 1, 2023, issuing 49,290,152 shares of Camber Common Stock representing 59.99% of outstanding shares[17] - Camber reserved 88,647,137 additional shares for potential conversions and exercises related to the merger[17] - The merger is accounted for as a reverse acquisition with Viking treated as the acquirer[17] - Viking acquired 60.5% of Simson-Maxwell Ltd. for $7,958,159 in cash, expanding its portfolio in power generation and custom energy solutions[18] - Viking acquired a 51% interest in Viking Ozone Technology, LLC, which owns a patented medical waste disposal system using ozone technology, with Simson-Maxwell as the exclusive worldwide manufacturer[20] - Viking acquired a 51% interest in Viking Sentinel and Viking Protection, owning intellectual property for open conductor detection systems to enhance grid safety and stability[20] - The merger consideration transferred was $52,036,151, with Viking shareholders owning 64.9% of the merged entity[50] - Net assets acquired in the merger included $1,475,000 in oil and gas properties and $56,432,183 in investment in Viking[52] - Camber completed the merger with Viking Energy Group, Inc., with Viking surviving the merger as a wholly owned subsidiary of Camber, and Camber issued approximately 49,290,152 shares of Camber Common Stock, representing approximately 59.99% of the outstanding Camber Common Stock[112][114] - Viking acquired approximately 60.5% of the issued and outstanding shares of Simson-Maxwell Ltd. for $7,958,159 in cash, with Simson-Maxwell providing commercial and industrial clients with efficient, flexible, environmentally responsible and clean-tech energy systems[106] - Viking acquired 51% of Viking Ozone for $2,495,868, including $2 million in stock and $495,868 in contingent consideration, with patents and intellectual property valued at $4,916,057[60][61] - Viking acquired 51% of Viking Sentinel for $233,334 in stock, with patents and intellectual property valued at $457,518[62][63] - Viking acquired 51% of Viking Protection for $21 million, payable in convertible preferred stock or cash, with potential revenues of $500 million if sales targets are met[64][65] - Total consideration for the acquisition is $5,373,223, including $4,433,334 in fair value of stock and $939,889 in contingent consideration[66] - Intangible assets for patents and intellectual property are valued at $10,059,765, with a non-controlling interest of $(4,686,542)[66] - The company consolidates three VIEs: Viking Ozone, Viking Sentinel, and Viking Protection, with total intangible assets of $15,433,340 and non-controlling interests of $(7,330,915)[67][68] Asset and Liability Changes - Accounts receivable decreased to $5.92 million as of September 30, 2024, from $8.55 million as of December 31, 2023[3] - Inventory decreased to $8.32 million as of September 30, 2024, from $9.80 million as of December 31, 2023[3] - Total current liabilities decreased to $29.31 million as of September 30, 2024, from $31.80 million as of December 31, 2023[3] - Accounts receivable decreased from $8,545,449 as of December 31, 2023, to $5,922,607 as of September 30, 2024[3] - Inventory decreased from $9,795,969 as of December 31, 2023, to $8,321,934 as of September 30, 2024[3] - Total current assets decreased from $19,653,836 as of December 31, 2023, to $15,085,907 as of September 30, 2024[3] - Current assets decreased to $15.1 million as of September 30, 2024, from $17.9 million in 2023, while current liabilities increased to $29.3 million from $27.4 million, resulting in a working capital deficit of $14.2 million[118] - The company's stockholders' deficit stood at $(31,662,829) as of September 30, 2024, with long-term debt of $39,673,475 and a working capital deficiency of $14,221,385[24] - The largest components of current liabilities include accrued interest on notes payable of $6,194,664 and drawings against the bank credit facility of $4,193,122[24] - The company's derivative liability for Series C Preferred Stock was valued at $533,782 using Level 3 inputs, with total losses of $(18,573,289) for the nine months ended September 30, 2024[35] - The company's reserve for expected credit losses on power generation accounts receivable was $31,444 as of September 30, 2024, down from $36,678 at December 31, 2023[36] - Inventory as of September 30, 2024 was $8,321,934, down from $9,795,969 at December 31, 2023, with a reserve for obsolescence of $(1,189,313)[37] - The company uses the right-of-use (ROU) model for leases, recognizing lease liabilities and ROU assets at the lease commencement date, discounted using the incremental borrowing rate[36] - The company's notes payable to related parties as of September 30, 2024, totaled $1,021,768, with a current portion of $502,730[73] - Noncontrolling interest decreased from $7,040,648 on January 1, 2024, to $6,911,867 on September 30, 2024, reflecting a net loss attributable to noncontrolling interest of $128,781[75] - The company's long-term debt and other short-term borrowings totaled $39,676,296 as of September 30, 2024, with

Core Viewpoint - Coelacanth Energy Inc. has secured a $52 million revolving bank credit facility and initiated a 4-well drilling program at Two Rivers East, aiming to enhance production and operational flexibility [2][6]. Group 1: Drilling Program - The drilling program at Two Rivers East includes drilling and completing 3 Lower Montney wells, completing 1 previously drilled Upper Montney well, and drilling a Bluesky disposal well, with a total estimated cost of approximately $36 million [3]. - The first well was spud on September 1, 2024, and the completion of the 4 pad wells is scheduled to start in late October 2024 [3]. - Previous drilling in 2023 at the same site yielded an average production rate of 1,338 boe/d per well, totaling 4,014 boe/d, with 54% being light oil [4]. Group 2: Strategic Benefits - The program is expected to accelerate the company's growth profile and add significant drilling inventory by proving the commerciality of the Upper Montney [5]. - It aims to reduce risks associated with processing and transportation commitments and minimize disruptions during the startup of the new facility [5]. - The construction of a new battery facility for gas compression, oil treating, and water handling is underway, with operations expected to commence in April 2025 [5]. Group 3: Financial Update - Coelacanth has secured two revolving bank credit facilities totaling $52 million, backed by reserves at Two Rivers West and a $45 million Letter of Credit from a third party for a 2-year term [6]. - The company had over $60 million in cash and no debt at the end of Q2 2024, projecting a net debt of approximately $40 million post-drilling program completion [8]. - The company plans to use proceeds from share purchase warrants for additional drilling at Two Rivers East scheduled for summer 2025 [9].

Revenue Performance - Camber Energy's Q2 2024 reported revenue was $9.22 million, an increase of approximately 19.66% compared to $8.29 million in Q1 2024[4]. - The revenue for Q2 2024 was primarily derived from the power solutions business, including the design, sale, and service of power generation units and systems[3]. - The company achieved a revenue of $9,919,961 in Q2 2022, indicating a significant growth trajectory over the past two years[3]. Business Operations - Camber has a majority interest in Simson-Maxwell Ltd., a reputable participant in the power solutions sector for over 80 years, with approximately 4,000 customers[7]. - Camber's majority-owned subsidiary, Viking Energy Group, provides custom energy and power solutions to commercial and industrial clients in North America[9]. Technology and Innovation - The company holds an exclusive license in Canada for a patented carbon-capture system, which is designed to make carbon capture economically viable[7]. - Camber's Broken Conductor Protection technology has multiple patents and has been independently tested by recognized laboratories, aimed at reducing wildfire risk[7]. Corporate Strategy - The company is focused on limiting exposure to external factors while maintaining a listing on a reputable trading platform[2]. - Camber is committed to improving all areas within its control, as stated in its shareholder letter[8]. Market Position - Camber's shares have been upgraded to the OTCQB Venture Market, enhancing transparency and trading experience for investors[1].

Revenue and Growth - Revenue from power generation units and parts for Q2 2024 was $6,553,893, up from $5,301,911 in Q2 2023, representing a 23.6% increase[5] - Service and repairs revenue increased to $3,338,200 in Q2 2024 from $1,504,204 in Q2 2023, a growth of 121.5%[5] - Total revenue for the six months ended June 30, 2024, was $18,117,994, up 31.1% from $13,805,107 in the same period of 2023[38] - For the three months ended June 30, 2024, revenue from power generation units was $5,422,191, an increase of 24.1% compared to $4,369,223 for the same period in 2023[38] - Total revenue from units and parts for the six months ended June 30, 2024, reached $12,086,013, up 55.5% from $7,760,206 in the prior year[38] Financial Performance - The net loss attributable to Camber Energy, Inc. for the six months ended June 30, 2024, was $28,830,784, compared to a net loss of $2,543,765 for the same period in 2023[6] - Comprehensive loss attributable to Camber for the six months ended June 30, 2024, was $28,856,913, compared to $2,477,150 for the same period in 2023[9] - The company recorded a net loss of $(29,172,828) for the six months ended June 30, 2024, compared to a net loss of $(2,908,339) for the same period in 2023, indicating a significant increase in losses[21] - The company generated a loss from operations of $(3,521,231) for the six months ended June 30, 2024, compared to $(2,670,209) for the same period in 2023[104] - The total operating expenses for the six months ended June 30, 2024, were $21,733,724, compared to $16,946,722 for the same period in 2023, reflecting a 28.5% increase[6] Cash Flow and Liquidity - Cash used in operating activities for the six months ended June 30, 2024, was $1,409,813, compared to $2,935,186 for the same period in 2023, indicating improved cash flow management[10] - The company reported a net cash provided by financing activities of $952,802 for the six months ended June 30, 2024, compared to $866,794 in the same period in 2023[11] - The company reported a net decrease in cash of $298,027, down from a decrease of $2,120,785 in the prior period, indicating improved cash flow management[11] - The company had a working capital deficiency of $(14,988,313) as of June 30, 2024, compared to $(8,280,058) in the prior year, indicating worsening liquidity[102] Shareholder Equity and Stock Issuance - The weighted average number of shares of common stock outstanding for Q2 2024 was 177,666,824, significantly higher than 47,765,841 in Q2 2023[6] - The company issued approximately 49,290,152 shares of Camber Common Stock, representing approximately 59.99% of the outstanding shares post-merger[101] - Total common stock issued during the period was 79,678,317 shares, reflecting ongoing capital raising efforts[12] - The company has reserved approximately 88,647,137 additional shares for potential conversions and exercises related to the merger[13] Debt and Liabilities - Total long-term debt as of June 30, 2024, is $38,865,974, a decrease from $39,974,670 on December 31, 2023, representing a reduction of approximately 2.8%[66] - The company has a total of $46,818,745 due in principal for the year 2027, net of unamortized discount of $8,110,475, resulting in a net amount of $38,708,270[67] - The outstanding balance under the bank credit facility as of June 30, 2024, is CAD $5,993,718 ($4,381,161), compared to CAD $4,457,947 ($3,365,995) on December 31, 2023[67] Mergers and Acquisitions - The merger with Viking Energy Group, Inc. was completed on August 1, 2023, with Viking becoming a wholly owned subsidiary of the company[13] - The total consideration transferred in the merger was $52,036,151, with Viking's share price at the date of the merger being $0.807[46] - Viking acquired a 51% interest in Viking Ozone Technology, LLC, which owns a patented medical waste treatment system using ozone technology, positioning the Company in the sustainable waste management sector[17] - The company acquired approximately 60.5% of Simson-Maxwell for $7,958,159, enhancing its capabilities in custom energy solutions[94] Intangible Assets and Intellectual Property - The company identified intangible assets of $3,908,126 related to customer relationships and brand from the acquisition of Simson-Maxwell, with some assets amortized over specific periods[113] - The company has aggregate intangible assets of $15,433,340 from the acquisition of a 51% interest in Viking Ozone, Viking Sentinel, and Viking Protection, which have an indefinite life and are not amortized[115] - The intangible asset related to the ESG Clean Energy License was valued at $5,000,000 as of June 30, 2024, with accumulated amortization of $885,487[53] Legal and Regulatory Matters - A class action complaint was filed against the Company regarding the merger with Viking, alleging breaches of fiduciary duty[83] - The Company intends to appeal the NYSE's determination to delist its common stock due to low selling prices, with trading now occurring on the OTC Pink Market[101] - The final approval hearing for the Stipulation and Settlement of the Houston Derivative Complaint is scheduled for September 12, 2024[119] Operational Developments - The company is exploring renewable energy technologies that are currently generating revenue or have a reasonable prospect of doing so[14] - The company holds a license for a patented clean energy and carbon-capture system with exclusivity in Canada and multiple locations in the U.S.[14] - Viking's medical waste disposal system is classified as renewable fuel for waste-to-energy facilities in various locations globally[95]

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].

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