1 Aug 2023listing compliance notice▼ BadMajor
VIKING ENERGY GROUP, INC. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2023director interest notice● Neutral
VIKING ENERGY GROUP, INC. President and CEO Doris James Andrew disposed of 1,916,982 shares via option/appreciation-right settlement.
1 Aug 2023business combination● NeutralMajor
The Camber merger finally closed: every Viking common and preferred share converted into Camber stock, Viking's charter and bylaws were amended under the merger terms, and Viking's stock stopped trading (symbol VKIN) ahead of full SEC deregistration -- Viking became a wholly owned Camber subsidiary, ending its 20-year run as an independent public filer.
1 Aug 2023securities registration● Neutral
VIKING ENERGY GROUP, INC. amended an already-effective registration statement.
14 June 2023agm notice● Neutral
VIKING ENERGY GROUP, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
13 June 2023business combination● NeutralMajor
Viking and Camber Energy filed the definitive joint proxy statement for the merger agreement originally dated February 15, 2021 and amended April 18, 2023. Both companies' stockholders vote at virtual special meetings on July 20, 2023. If it closes, each Viking common share becomes one Camber common share, each Series C preferred becomes one Camber Series A preferred, and each Series E preferred becomes one Camber Series H preferred. Viking would survive as a wholly owned Camber subsidiary. Based on Camber's April 18, 2023 price, the filing put the exchange ratio at about $1.62 per Viking share, with the actual value to float with Camber's stock price. Both boards unanimously recommend approval. This is the final approval step for the long-running Camber merger thread, but the vote has not yet happened. Viking's shareholders' position is not yet ended by this filing.
6 June 2023debt financing▼ Bad
Viking issued a second convertible promissory note to FK Venture LLC a month after the first, continuing to lean on the same lender for financing ahead of the merger's close.
12 May 2023quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $7.2 million and a net loss of $1.6 million for the period ended 2023-03-31.
10 May 2023debt financing▼ Bad
Viking issued a convertible promissory note to a new lender, FK Venture LLC -- a relationship that would later carry over to Camber's own balance sheet after the merger closed.
19 Apr 2023business combination● Neutral
Viking and Camber signed a First Amendment to their February 2021 Merger Agreement, formalizing the terms of the revived combination.
20 Mar 2023business combination▲ GoodMajor
After roughly two years of dormancy, Viking and Camber jointly announced they were resuming merger negotiations.
14 Nov 2022quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $6.2 million and a net loss of $10.3 million for the period ended 2022-09-30.
8 Sept 2022securities registration● Neutral
VIKING ENERGY GROUP, INC. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
12 Aug 2022quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $6.2 million and a net loss of $10.3 million for the period ended 2022-09-30.
21 July 2022director interest notice● Neutral
Mcvicar John F became a VIKING ENERGY GROUP, INC. Chief Financial Officer and company insider (initial ownership filing).
14 July 2022asset acquisition disposition▼ BadMajor
Four Petrodome subsidiaries sold all their oil and gas interests in Louisiana, Texas and Mississippi to third parties on July 8, 2022. This covered 8 producing wells, 8 shut-in wells, 2 salt water disposal wells and 1 inactive well, and the proceeds repaid the CrossFirst Bank line of credit in full.
8 June 2022material agreement● Neutral
Viking entered a purchase agreement to evaluate a large basket of minority, non-operated working interests in nearly 5,700 wells across eleven states (operated by majors including Chevron, BP, ConocoPhillips and EOG), with price to be fixed after due diligence -- likely the seed of what would close later that year as a smaller, negotiated acquisition.
7 June 2022quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $6.6 million and a net loss of $4 thousand for the period ended 2022-06-30.
17 May 2022late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its quarterly report would be filed late.
20 Apr 2022asset acquisition disposition● Neutral
Viking amended its October 2021 report on handing its Elysium Energy Holdings interests (about 70 producing wells) to TO Elysium 2021, L.L.C. on October 12, 2021, in exchange for the buyer assuming all Elysium obligations. The amendment adds pro forma reserve data, a deemed-dividend revision and Viking's reasons, which mirror the Ichor sale (high interest rates in Viking's view, price-limiting hedges, ring-fenced cash flow, no more equity wanted). Combined with the Ichor exit, pro forma total assets at June 30, 2021 fall from $111.4 million to $17.7 million and the stockholders' deficit narrows from $15.1 million to $3.6 million. This completes the paperwork on the Gulf Coast unwind and adds no new transaction.
20 Apr 2022asset acquisition disposition● Neutral
Viking amended its October 2021 report on handing over its Ichor Energy Holdings interests (about 58 producing wells) to TO Ichor 2021, L.L.C., which took on all of the Ichor obligations as the only consideration. The amendment adds pro forma reserve data and a deemed-dividend revision, and Viking's reasons: the Ichor loans carried high interest rates in Viking's view, hedges capped sale prices, most cash flow stayed inside Ichor, and Viking did not want to put in more equity. The filing says the deal reduced Viking's consolidated debt. Pro forma, the June 30, 2021 balance sheet drops from $111.4 million to $48.4 million of total assets. Viking keeps a 30-day right of first refusal if the buyer receives a third-party offer for the interests. This is a restated explanation of the already-reported Gulf Coast unwind, not a new deal.
15 Apr 2022quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $5.9 million and a net loss of $3.6 million for the period ended 2022-03-31.
31 Mar 2022late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its annual report would be filed late.
9 Mar 2022financial restatement● Neutral
Viking restated prior filings to recognize a non-cash deemed dividend from 2020's merger-related Series C Preferred Stock amendments (partially reversed by a January 2022 correction) -- an accounting fix with no effect on cash, revenue or the balance sheet.
15 Feb 2022asset acquisition disposition▲ Good
The same week as the Viking Protection Systems deal, Viking acquired 51% of Viking Sentinel Technology, LLC from Virga Systems LLC (retaining 49%) for 416,667 shares, adding a related electrical end-of-line protection patent -- the third small technology venture launched within two months.
15 Feb 2022asset acquisition disposition▲ Good
Viking acquired 51% of Viking Protection Systems, LLC from Jedda Holdings LLC (retaining 49%), gaining a patented electric-transmission ground-fault prevention system, paid for in tiered convertible preferred stock tied to future unit sales.
28 Jan 2022material agreement● Neutral
Viking advanced a third bridge loan, $460,000, to New Rise Processing Reno -- bringing total pre-closing advances toward the New Rise acquisition to nearly $2 million.
24 Jan 2022asset acquisition disposition▲ Good
Viking acquired 51% of newly formed Viking Ozone Technology, LLC from Choppy Group LLC (retaining 49%), gaining a patented ozone-based medical and biohazard waste treatment system -- the first of several small technology joint ventures launched in early 2022.
19 Jan 2022material agreement● Neutral
Viking advanced a further $500,000 to New Rise Processing Reno on the same bridge-financing terms, continuing to fund the target ahead of closing.
5 Jan 2022material agreement● Neutral
Viking advanced $1,000,000 to New Rise Processing Reno as bridge financing ahead of its pending $300 million acquisition, secured by a guaranty and a pledge of 20% of the seller's membership interests.