Camber Energy is a publicly-traded energy company with a balanced asset base in Texas and Oklahoma that is actively engaged in the exploitation, development, and production of crude oil, natural gas and natural gas liquids. It targets existing and potential asset bases by acquiring properties in areas with geology and returns where it can leverage technical competence, knowledge, and database.
This is a turnaround and it’s working. The company recently announced that it has reached an agreement to neutralize all of its existing bank debt. The agreement will give the business a clean balance sheet, and new lease on life. The company can continue to make strategic acquisitions because they have access to capital, and we’re betting the experienced management team will be able to turn this into a winner.
The turnaround process has been challenging, but there seems to be light at the end of the tunnel. If management can pull this off, we believe CEI could be a big winner.