NOTE 8 – LONG TERM DEBT

Long-term debt obligations of Camber Energy, Inc.:

Note payable to Discover Growth Fund, pursuant to a 10.0% Secured Promissory Note dated December 11, 2020 in the original amount of $6,000,000 with interest and principal due at the revised maturity date of January 1, 2027. The Note is secured by lien on substantially all of the Company’s assets.	$	6,000,000	$	6,000,000

Note payable to Discover Growth Fund, pursuant to a 10.0% Secured Promissory Note dated December 22, 2020 in the original amount of $12,000,000 with interest and principal due at the revised maturity date of January 1, 2027. The Note is secured by first lien on the Company’s ownership in Viking.		12,000,000		12,000,000

Total long-term debt associated with Camber Energy, Inc.		18,000,000		18,000,000
Less current portion		-		-
	$	18,000,000	$	18,000,000

All of Company’s long-term debt is due in 2027

The above notes were in default at various times, but have been resolved through settlement (see Note 13 Stockholders Deficit)