Benzinga | May 25, 2021 09:04AM EDT

Camber Energy's Majority Owned Subsidiary Viking Energy Group Q1 Revs $10.494M Vs $11.787M YoY

Camber Energy, Inc. (NYSE:CEI) ("Camber" or the "Company") is pleased to report that its majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in the onshore Gulf Coast and Mid-Continent regions, announced on May 24, 2021 Viking's financial results for the quarter ended March 31, 2021.

James Doris, President and Chief Executive Officer of both Camber and Viking, commented, "We are pleased with Viking's Q1 results, especially following the unprecedented conditions experienced in 2020. We are extremely encouraged with the foundation we have established, and are intensely focused on pursuing growth opportunities."

Viking's Revenue for the Quarters Ended March 31

Viking Energy Group, Inc. 2019 2020 2021

1st Quarter Revenue $9,346,592 $11,787,952 $10,494,079

Note: The figures referenced above are approximate. For specific amounts and further details please refer to Viking's filings with the Securities and Exchange Commission ("SEC"), including Viking's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 filed on May 24, 2021 with the SEC and available under "Investors -- SEC Filings" at www.vikingenergygroup.com.

Camber's Interest in Viking

Camber owns approximately 62% of the issued and outstanding common shares of Viking. Such interest was acquired in connection with the transactions described in Camber's Current Reports on Form 8-K filed with the Securities and Exchange Commission ("SEC") on December 24, 2020 and January 13, 2021, and which are available under "investors" - "SEC filings" at www.camber.energy.