Today lets breakdown a short report from Kerrisdale Capital that came out about a company called Camber Energy (NYSE: CEI). The goal of which is to help you understand the convoluted share structure of the company, the background of the assets, and the high level risks in trading this name.
Camber Energy is a defunct oil producer, in the process of completing a licensing agreement for a carbon capture deal that will give them the rights to Canada. They also own a 73% stake in Viking Energy, who owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. Viking also owns 60% of a company that is focused on assembling power plants and generators.
This is a stock that ripped from under 50c to almost $5 in the month of September. It came crashing down yesterday in large part due to a short report that came out from Kerrisdale Capital.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
