HOUSTON, Jan. 4, 2017 /PRNewswire/ -- Lucas
Energy, Inc. (NYSE MKT: LEI) ("Lucas") today announced that it
will change its name to Camber Energy, Inc., effective January 5, 2017, to more accurately reflect the
Company's strategic shift from its Austin Chalk and Eagleford roots
to an expanding addition of shallow oil and gas reserves with
longer-lived, lower-risk production profiles. The Company's
ticker symbol will be changed to "CEI" under which it will begin
trading on the NYSE MKT exchange upon the morning of the same date,
January 5, 2017.
To further the Company's growth strategy, Camber has retained
the services of Thomas E. Hardisty
as Senior Vice President of Land & Business Development and
J. Mark Bunch as Senior Vice
President of Engineering & Operations. Mr. Hardisty
brings over 30 years of oil industry experience to our team as a
Petroleum Land Management professional, and Mr. Bunch is a
Petroleum Engineer with more than 35 years of operational &
managerial experience in oil & gas exploration, development,
and acquisitions.
About Camber Energy, Inc.
Based in Houston, Texas, Camber
Energy (NYSE MKT: CEI) is a growth-oriented, independent oil and
gas company engaged in the development of crude oil and natural gas
in the Austin Chalk and Eagle Ford formations in south Texas, the Permian Basin in west Texas, and the Hunton formation in central
Oklahoma.
Safe Harbor Statement and Disclaimer
This news release includes "forward looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward looking statements give our current
expectations, opinions, belief or forecasts of future events and
performance. A statement identified by the use of forward
looking words including "may," "will," "expect," "anticipate,"
"estimate," "hope," "plan," "believe," "predict," "envision," "if,"
"intend," "would," "probable," "project," "forecasts," "outlook,"
"aim," "might," "likely" "positioned," "strategy," "continue,"
"potential," "ensure," "should," "confident," "could" and similar
words and expressions, and the negative thereof, and certain of the
other foregoing statements may be deemed forward-looking
statements. Although Camber Energy believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that
may cause actual future activities and results to be materially
different from those suggested or described in this news release,
including our ability to integrate and realize the benefits
expected from the Segundo acquisition and future acquisitions that
we may complete; the availability of funding and the terms of such
funding; our growth strategies; anticipated trends in our business;
our ability to repay outstanding loans and satisfy our outstanding
liabilities; our liquidity and ability to finance our exploration,
acquisition and development strategies; market conditions in the
oil and gas industry; the timing, cost and procedure for future
acquisitions; the impact of government regulation; estimates
regarding future net revenues from oil and natural gas reserves and
the present value thereof; legal proceedings and/or the outcome of
and/or negative perceptions associated therewith; planned capital
expenditures (including the amount and nature thereof); increases
in oil and gas production; changes in the market price of oil and
gas; changes in the number of drilling rigs available; the number
of wells we anticipate drilling in the future; estimates, plans and
projections relating to acquired properties; the number of
potential drilling locations; our financial position, business
strategy and other plans and objectives for future operations; and
other risks described in Camber Energy's Annual Report on Form 10-K
and other filings with the SEC, available at the SEC's website at
www.sec.gov. Investors are cautioned that any forward-looking
statements are not guarantees of future performance and actual
results or developments may differ materially from those
projected. The forward-looking statements in this press
release are made as of the date hereof. The Company takes no
obligation to update or correct its own forward-looking statements,
except as required by law, or those prepared by third parties that
are not paid for by the Company. The Company's SEC filings
are available on its website or at http://www.sec.gov.
Contacts:
Carol Coale / Ken Dennard
Dennard • Lascar Associates LLC
(713) 529-6600
ccoale@dennardlascar.com
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SOURCE Lucas Energy, Inc.