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LONG TERM DEBT

9 Months Ended

Sep. 30, 2021

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 maturity on January 1, 2024. 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 maturity on January 1, 2024. The Note is secured by first lien on the Company’s ownership in Viking.		12,000,000		12,000,000

Note payable to Discover Growth Fund, LLC pursuant to a 10.0% Secured Promissory Note dated April 23, 2021 in the original amount of $2,500,000 with interest and principal due at maturity on January 1, 2027. The Note is secured by lien on substantially all of the Company’s assets.		2,500,000		-

Total long-term debt		20,500,000		18,000,000
Less current portion		-		-
	$	20,500,000	$	18,000,000

The above notes are subject to cross defaults of the Company’s Series C Preferred stock and have been in default at various times. As of the day of filing of this report all instances of default have been settled. (See note 13)