Merger of Camber Energy Inc and Viking Energy Group Inc (Tables)

3 Months Ended

Mar. 31, 2024

Merger of Camber Energy Inc and Viking Energy Group Inc

Schedule of consideration transferred

Number of Viking shares of common stock outstanding at merger date		119,218,508
Viking shareholder ownership interest in the merged entity		64.9	%
Grossed up number of shares		183,699,488
Number of shares theoretically issued to Camber shareholders		64,480,980
Viking share price at date of merger	$	0.807
Consideration transferred	$	52,036,151

Schedule of assets acquired and liabilities assumed

Consideration transferred	$	52,036,151
Net Assets Acquired and Liabilities Assumed (Camber):
Cash	$	154,955
Prepaids		247,917
Oil and gas properties		1,475,000
Advances due from Viking		4,452,300
Investment in Viking		56,432,183
Goodwill		34,860,411
Total net assets acquired		97,622,766
Accounts payable	$	1,628,669
Accrued expenses and other current liabilities		253,353
Derivative liability		3,540,036
Long term debt		40,099,510
Asset retirement obligations		65,047
Total net liabilities assumed		45,586,615
Total Net Assets Acquired and Liabilities Assumed	$	52,036,151