Camber’s CEO Highlights Growth & Transformation Following Merger

Rhea-AI Summary

Camber Energy (NYSE American: CEI) has issued an open letter to shareholders highlighting significant achievements and plans post-merger. The company, now in a stronger position, has a diverse portfolio that includes majority stakes in Simson-Maxwell, Broken Conductor Protection, and ESG Clean Energy System, among others. Key achievements include a notable increase in revenue and stockholders' equity, with Q1 2024 equity at $20.2 million compared to a deficit of $19.5 million in Q1 2023. The merger has also driven revenue growth, particularly in the power solutions sector. Key objectives for 2024 include expanding the power solutions business, advancing commercialization of existing technologies, and exploring synergistic growth opportunities.

Positive

• Q1 2024 stockholders' equity improved to $20.2 million from a deficit of $19.5 million in Q1 2023.
• Revenues have significantly increased post-merger, exceeding those of the past several years.
• Simson-Maxwell's established market presence and customer base (approx. 4,000 customers).
• Additional patents received for Broken Conductor Protection Technology.
• Milestones achieved in CO2-capture technology.
• Extinguishment of 'floorless' conversion feature in legacy security instrument.
• Extinguishment of certain promissory notes due in 2025.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / June 20, 2024 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company"), a growth-oriented diversified energy company, today shares an open letter to shareholders.

Dear Shareholders,

The Company is not involved in the day-to-day trading of its stock in the public market, nor does the Company receive proceeds from the trading of its stock in the secondary market, but we are definitely sensitive to market conditions and their impact on the stock price of many companies, including ours which, in my opinion, does not reflect the value of the organization.

Thanks to our dedicated team, Camber has achieved many important milestones over the past several months and by any measure is in a stronger position now than at any time in its past. Toward that end, I am pleased to highlight some of our recent accomplishments and demonstrate how we are positioned for growth.

Current Portfolio

Camber has a majority interest in a long-standing, active business in a high-demand / high-growth sector, along with interests in industry-changing technologies that are beyond the R&D phase and in the early stages of commercialization:

Simson-Maxwell Ltd. (https://www.simson-maxwell.com/) - Majority Owned by Camber

• Reputable participant in the power solutions' business for over 80 years
• Demand for primary and secondary power solutions is going to increase for many years as power consumption increases
• Appropriate catalyst/platform to facilitate and manage growth given existing team (100 employees) and relationships (approx. 4,000 customers)

Broken Conductor Protection (https://camberprotection.com/)

• Solution designed to assist utilities with reducing wildfire risk and improving grid resiliency
• Multiple patents
• Independently tested by two nationally-recognized laboratories

ESG Clean Energy System / Carbon-Capture Technology (https://esgcleanenergy.com/)

• License to expansive IP portfolio to unique clean energy & carbon-capture system
• Exclusive for all of Canada and for several locations in the U.S.
• Multiple revenue streams available through patented system
• Designed to make carbon-capture economically viable (existing methods are energy-intensive and cost prohibitive)

Viking Ozone Technology (https://vkin-ozone.com/)

• clean, safe and sustainable technology for waste treatment;
• institutions (e.g. hospitals) and waste management companies are actively searching for alternatives to existing methods;
• Our majority-owned subsidiary, Simson-Maxwell, is already an approved vendor with a UK-based National Health Services Trust that manages approx. 1,000 hospitals;
• Established distribution arrangements in the UK, France, Switzerland and other countries

Revenue Comparison

As a result of the merger closed in Q-3 last year, revenues, derived primarily from our power solutions' business, including from the design, sale and/or service of power generation units and systems, far exceed revenues generated by the Company in the past several years, as illustrated below.

Similarly, revenues reported by the Company in Q-1 of 2024 also exceed, by a significant margin, revenues reported by the Company in Q-1 for the preceding few years, as highlighted below.

Stockholders' Equity Comparison

The merger closed in Q-3 last year also improved the Company's stockholders' equity position, as shown below.

Other Highlights

Other highlights from 2024, as previously disclosed, include:

• Q-1 2024 Stockholders' Equity of $20.2 million, compared to deficit of ($19.5 million) in Q-1 2023
• Additional Patents received for Broken Conductor Protection Technology
• Milestones reached for CO2-capture technology
• Continued performance in our Power Solutions Division
• Extinguishment of "floorless" conversion feature in legacy security instrument
• Extinguishment of certain promissory notes that were otherwise due in 2025.

2024 Objectives

• Expand existing Power Solutions' business
• Continue commercialization efforts regarding existing technologies (Broken Conductor Protection; Carbon-Capture; Waste Treatment)
• Pursue other synergistic growth initiatives

We are never complacent and remain diligent in our effort to improve each and every week. We are grateful to our shareholders for their support.

Sincerely,

James A. Doris
President & CEO
Camber Energy

About Camber Energy, Inc.

Camber Energy, Inc. is a growth-oriented diversified energy company. Through its wholly-owned subsidiary, Viking Energy Group, Inc., Camber: (i) provides custom energy & power solutions to commercial and industrial clients in North America; (ii) holds an exclusive license in Canada to a patented carbon-capture system; and (iii) has a majority interest in: (a) an entity with intellectual property rights to a patented, ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and (b) entities with the intellectual property rights to patented and patent pending, ready-for-market proprietary Electric Transmission and Distribution Broken Conductor Protection Systems. For more information, please visit the company's website at www.camber.energy.

SEC Reports

All figures referenced herein are approximate and all descriptions above are qualified in their entirety by Camber's filings with the Securities and Exchange Commission ("SEC") and available under "Investors -- SEC Filings" at www.camber.energy.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.

Camber cautions that the foregoing list of important factors is not complete, any forward-looking statement speaks only as of the date on which such statement is made, and Camber does not undertake to update any forward-looking statements that it may make, whether as a result of new information, future events or otherwise, except as required by applicable law. All subsequent written and oral forward-looking statements attributable to Camber or any person acting its behalf are expressly qualified in their entirety by the cautionary statements referenced above.

Contact Information:

Investors and Media:
Tel. 281.404.4387

SOURCE: Camber Energy, Inc.

View the original press release on accesswire.com

FAQ

What are Camber Energy's recent accomplishments?

Camber Energy has improved its stockholders' equity to $20.2 million, increased revenues, obtained additional patents, and achieved milestones in CO2-capture technology.

How has the merger affected Camber Energy's revenue?

The merger has significantly increased Camber Energy's revenues, particularly in the power solutions sector.

What is the stock symbol for Camber Energy?

The stock symbol for Camber Energy is CEI.

What are the key objectives for Camber Energy in 2024?

Camber Energy aims to expand its power solutions business, advance commercialization of current technologies, and pursue synergistic growth initiatives.

How has Camber Energy's stockholders' equity changed from Q1 2023 to Q1 2024?

Camber Energy's stockholders' equity improved from a deficit of $19.5 million in Q1 2023 to $20.2 million in Q1 2024.

What patents has Camber Energy received recently?

Camber Energy has received additional patents for its Broken Conductor Protection Technology.