Item 8.01 Other Events.

As disclosed by Camber Energy, Inc. (the "Company") in its Current Report Filed on Form 8-K filed with the Securities and Exchange Commission, on January 5, 2022:





     (i)   the Company and an accredited institutional investor (the "Investor")
           entered into a stock purchase agreement on December 30, 2021 (the
           "Stock Purchase Agreement") pursuant to which the Investor purchased
           from the Company 10,544 shares of newly designated Series G redeemable
           convertible preferred stock (the "Series G Preferred Stock"), having a
           face value of $10,000 per share, for an aggregate price of $100,000,000
           (the "Purchase Price"), representing at a 5% original issue discount;

     (ii)  The Purchase Price was paid by the Investor via payment of $5,000,000
           in cash on December 31, 2021, and the execution and delivery of four
           Promissory Notes (each a "Note" and collectively, the "Notes") from the
           Investor in favor of Company, each in the amount of $23,750,000 and
           payable by the Investor to the Company on March 31, 2022 (the "March
           Note"), June 30, 2022 (the "June Note"), September 30, 2022 and
           December 31, 2022, respectively;

     (iii) There are 2,636 shares of Series G Preferred Stock associated with each
           Note;

     (iv)  The Investor may not convert the shares of preferred stock associated
           with each Note into shares of common stock or sell any of the
           underlying shares of common stock unless that Note is paid in full by
           the Investor; and

     (v)   The Company may in its sole discretion redeem the 2,636 shares of
           Series G Preferred Stock associated with each Note by paying the
           Investor $1,375,000 as full consideration for such redemption.

As disclosed by Camber Energy, Inc. (the "Company") in its Current Report Filed on Form 8-K filed with the Securities and Exchange Commission on March 11, 2022, on March 10, 2022, the Company paid the Investor $1,375,000 and redeemed the 2,636 shares of Series G Preferred Stock associated with the March Note, thereby canceling the March Note and reducing the number of shares of Series G Preferred Stock outstanding from 10,544 to 7,908.

On June 15, 2022, the Company paid the Investor $1,375,000 and redeemed the 2,636 shares of Series G Preferred Stock associated with the June Note, thereby canceling the June Note and reducing the number of shares of Series G Preferred Stock outstanding from 7,908 to 5,272.

With respect to the remaining 5,272 shares of Series G Preferred Stock, as stated above, the Investor may not convert any of the shares of preferred stock associated with any remaining Note into shares of common stock or sell any of the underlying shares of common stock unless that Note is paid in full by the Investor, and the Company may redeem the shares of Series G Preferred Stock associated with the remaining Notes by paying the Investor $1,375,000 per Note as full consideration for such redemption.






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