Camber Energy, Inc. (AMEX:CEI) entered into a non-binding memorandum of understanding to acquire an asset located in Greely and Hamilton Counties, Kansas for $4 million on November 30, 2018. The consideration for the acquisition will be paid in the form of common stock of Camber Energy, Inc. As a part of the transaction, Camber Energy, Inc. will acquire working interests which include up to approximately 30,000 net leasehold acres in Greely and Hamilton Counties, Kansas, 181 non-producing well bores and also some existing production and the required infrastructure and equipment necessary to support future hydrocarbon production. The closing of the transaction is subject to customary closing conditions, negotiation of final transaction documents and transaction terms, and other conditions. The transaction is expected to close in December 2018.