On May 25, 2018, Camber Energy, Inc. entered into a Separation and Release Agreement with Richard N. Azar II, its Chief Executive Officer. Pursuant to the Separation Agreement, Mr. Azar agreed to resign from the company as Chief Executive Officer effective May 25, 2018. Mr. Azar remains a member of the Board of Directors of the Company. Effective upon Mr. Azar's resignation, the Board of Directors of the Company appointed Mr. Louis G. Schott as Interim Chief Executive Officer of the Company. Mr. Schott has over 24 years of legal and business experience with 20 years in the oil and gas industry, including a strong background in restructuring, mergers and acquisitions, public company regulations and requirements, title, energy finance, business development, general negotiations and land.