Shares of the Camber Energy, Inc. (CEI) stock were popping high in the Pre-market despite the absence of any specific news. CEI stock price saw a push of 10.33% to reach $0.91 a share at the time of this writing. The stock went high in the previous trade by 18.16% at closing. Let’s deep dive to explore more of it.
What’s Happening?
Camber Energy, Inc. (CEI) is the oil and natural gas stock that operates by developing and selling crude oil, natural gas, and natural gas liquids. Investors are finding the news associated with CEI stock to understand the bullish sentiment however the reality is different. There is no recent announcement or press release by the CEI stock today not even in this month. Sometimes analysts’ upgrades make the stock high, but this is not the reason in this case. So, what do you need to know now? Let’s discuss some recent events of Camber Energy.
CEI stock agreement with ESG Clean Energy, LLC:
Viking Energy Group, Inc, which is the subsidiary of CEI stock made an agreement with ESG Clean Energy, LLC. The agreement was related to ESG’s patent rights and utilization of heat and capturing carbon dioxide. The license is non-exclusive for 25 locations in the U.S and exclusive for all of Canada.
The ESG clean energy system works by producing clean electricity from the internal combustion engine. It uses the waste heat and captures 100% emitted Carbon dioxide.
CEI stock investment in Viking Energy:
On July 30, 2021, Camber Energy completed the purchase of $11 million worth of common stock of Viking Energy. The proceeds from this offering will facilitate the potential acquisition of 60.5% interest in a company engaged in different energy solutions. Proceeds will also help in exclusive IP license for the patented Carbon capture system. The part of the proceeds will help in the general corporate system.
Investment from Institutional Investors:
In the mid of July 2021, CEI stock did announce the closing of a $15,000,000 equity transaction from an Institutional Investor. The stock anticipated the use of funds to finance new acquisitions, working capital, and other purposes.
Wrap Up:
Things are going well for CEI stock as far as market sentiment is concerned despite any recent news. Camber Energy is progressing well for the last 30 days as it gained 72.31%. In the last 12 months, it gained almost 65%.
