Camber Energy and Viking Energy Announce Effectiveness of Form S-4 Registration Statement

Special meeting to approve business combination scheduled for July 20, 2023

HOUSTON, TX / ACCESSWIRE / June 14, 2023 / Camber Energy, Inc. (NYSE American:CEI) ("Camber") and Viking Energy Group, Inc. (OTCQB:VKIN) ("Viking") today announced that on June 13, 2023, at 4:00 p.m. ET, the U.S. Securities and Exchange Commission ("SEC") declared effective the Registration Statement on Form S-4, as amended (the "Registration Statement") filed with the SEC in connection with the previously announced proposed business combination (the "Merger") of Camber and Viking. The Registration Statement provides important information about the Merger.

The companies also established a record date of May 22, 2023 (the "Record Date") and announced that: (i) Camber will hold its special meeting of stockholders (the "Camber Special Meeting") on July 20, 2023 at 10:00 a.m. (Houston time) to approve the Merger and related matters; and (ii) Viking will hold its special meeting of stockholders (the "Viking Special Meeting") on July 20, 2023 at 2:00 p.m. (Houston time) to approve the Merger and related matters.

The stockholders of record of Camber as of the Record Date will be entitled to notice of, and to vote at or before, the Camber Special Meeting. The stockholders of record of Viking as of the Record Date will be entitled to notice of, and to vote at or before, the Viking Special Meeting.

If the necessary proposals at the Special Meeting are approved, Camber and Viking anticipate that the Merger will close effective on or about August 1, 2023, subject to the satisfaction of all other closing conditions. Upon the closing of the Merger, a wholly-owned subsidiary of Camber will merger with and into Viking, with Viking surviving the Merger as a wholly-owned subsidiary of Camber and Camber remaining the sole publicly-traded entity.

About Camber:

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