VIKING ENERGY GROUP, INC.

VIKING ENERGY GROUP, INC. deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

The Camber merger finally closed: every Viking common and preferred share converted into Camber stock, Viking's charter and bylaws were amended under the merger terms, and Viking's stock stopped trading (symbol VKIN) ahead of full SEC deregistration -- Viking became a wholly owned Camber subsidiary, ending its 20-year run as an independent public filer.

business combination

After roughly two years of dormancy, Viking and Camber jointly announced they were resuming merger negotiations.

business combination

Viking's Petrodome subsidiaries sold all of their remaining Texas and Louisiana oil and gas assets to several third parties, using the proceeds to fully retire the CrossFirst Bank credit line -- Viking's original 2017 Gulf Coast platform (Petrodome) was now completely exited, following Ichor and Elysium's 2021 divestitures.

asset acquisition disposition

Viking and RESC fixed the New Rise Renewables purchase price at $300,000,000 ($25 million cash plus preferred stock for the balance), with an upside adjustment if the Reno plant exceeds 3,000 barrels/day capacity.

material agreement

Viking agreed to buy New Rise Renewables, LLC -- a renewable-diesel plant under construction in Reno, Nevada -- from RESC Renewables Holdings, with the price to be set by appraisal less financing costs, an estimated $250-275 million bond.

material agreement

A week after exiting Ichor, Viking also gave up its Elysium Energy platform (the $40 million 2019 Texas/Louisiana acquisition), assigning it back to an affiliate of its original seller -- Viking's Gulf Coast E&P buildout was now fully unwound in favor of the emerging diversification strategy.

asset acquisition disposition

Viking gave up its entire Ichor Energy platform (Texas/Louisiana producing assets bought for ~$86 million in 2018), assigning its membership interests back to an affiliate of the original seller -- a retreat from the core Gulf Coast E&P business it had built since 2017.

asset acquisition disposition

Viking licensed carbon-capture and stationary power-generation patents from ESG Clean Energy, LLC for use across Canada and up to 25 U.S. sites, paying a $1.5 million up-front royalty with $3.5 million more due through April 2022 plus ongoing revenue-based royalties.

material agreement

Viking closed its purchase of a 60.5% stake in Simson-Maxwell Ltd., a Canadian industrial engine and power-generation equipment maker, for about CA$10 million -- Viking's first diversification beyond oil and gas.

asset acquisition disposition

Camber (then ~62% owner) bought another 27.5 million Viking shares for $11 million cash, funding two new diversification moves: an approximately 60.5% stake in Canadian industrial-engine maker Simson-Maxwell and a carbon-capture technology license -- pushing Camber's stake in Viking to about 73%.

capital raising announcement

Viking and Camber signed a new Merger Agreement, reviving the full-combination plan that had been shelved in December 2020's direct stock purchase.

business combination

Camber bought a further 145,384,615 Viking shares by retiring $20.9 million Viking owed to lender EMC Capital Partners -- Camber issued EMC its own preferred stock and Viking paid EMC $325,000 cash, cleaning up Viking's balance sheet while increasing Camber's stake.

capital raising announcement

The 2020 Merger Agreement was terminated outright. Instead, Camber bought a direct 51% stake in Viking (236,470,588 shares) for $10.9 million cash plus cancellation of $9.2 million in notes Viking owed it, and assigned its Elysium Energy Holdings stake back to Viking -- replacing a full-combination plan with a controlling-stake structure.

asset acquisition disposition

Viking and Camber signed an Amended and Restated Merger Agreement, and Viking amended its Series C Preferred Stock terms (4,900 votes and common-share conversion per preferred share) in anticipation of a full combination.

business combination

Viking and Camber signed a Third Amendment to their Merger Agreement, and Camber extended a second secured note to Viking, this one for $4,200,000 -- Camber's financial stake in Viking deepening even as the merger itself kept slipping.

business combination

Viking closed the $40 million Elysium acquisition, financing it with a $36.5 million term loan from 405 Woodbine LLC -- completing the second Gulf Coast platform alongside Ichor just as COVID-driven oil price volatility began.

asset acquisition disposition

Viking and Camber Energy, Inc. signed a Merger Agreement -- the opening move in what became a three-year, multiply-restructured courtship -- and Camber simultaneously became a lender to Viking via a $5,000,000 secured note, well before any merger closed.

business combination

Viking's new subsidiary Elysium Energy, LLC agreed to buy a second Texas/Louisiana oil and gas platform for $40,000,000 from nine affiliated sellers -- a second, larger Gulf Coast acquisition alongside the existing Ichor assets.

material agreement

Viking closed the roughly $86 million Ichor acquisition (Texas and Louisiana producing properties, appraised at a $91 million PV18) through new subsidiaries Ichor Energy (LA) and Ichor Energy (TX), financed by a $63.6 million term loan from ABC Funding, LLC at 10-12% interest -- by far Viking's largest and most leveraged deal to date.

asset acquisition disposition

Viking agreed to buy a large basket of Texas and Louisiana oil and gas leases from eight affiliated Texas entities (Bodel Holdings and others) -- the deal that became the 'Ichor' asset platform.

material agreement

Viking consolidated its financing, replacing separate facilities with a single $30 million CrossFirst Bank revolving credit line ($12.4 million drawn initially) spanning Petrodome and all three Mid-Con subsidiaries.

debt financing

Viking agreed to buy 41 more Kansas oil leases (Ellis/Rooks Counties) from Woodway Oil & Gas KS I, LLC for $2,200,000 through new subsidiary Mid-Con Development, LLC, continuing to scale the Kansas position.

asset acquisition disposition

Viking closed its acquisition of Petrodome Energy, LLC and its subsidiaries (adding Hamilton Ranch and San Patricio via a late amendment) -- its first entry into Texas/Louisiana Gulf Coast production -- financed by an $8.5 million term loan from 405 Petrodome LLC and Cargill Inc.

asset acquisition disposition

Viking agreed to buy oil and gas membership interests from Black Rhino, LP for $3,000,000 cash, 2,000,000 shares and a 1.5% override, conditional on securing financing -- the deal that grew, within weeks, into the Petrodome Energy acquisition.

material agreement

Renamed Viking Energy Group, Inc., the company formed subsidiary Mid-Con Petroleum, LLC, opened a $3 million CrossFirst Bank revolving credit line, raised $610,000 in a private placement, and used the proceeds to add more Kansas oil leases -- the Kansas platform's first outside financing.

asset acquisition disposition

The company built its first real Kansas oil position, closing two acquisitions of working interests in Miami/Franklin County leases (Cherokee formation, ~30 barrels/day) for $1,305,000 cash, a $45,000 note and 4,500,000 shares -- the start of what became the Mid-Con operating platform.

capital raising announcement

The company entered the oil and gas business for the first time in earnest, paying Tanager Energy Inc. about $302,000 for a 50% working interest in the Joffre oil property in Alberta, Canada -- the real origin of the eventual 'Viking Energy' identity.

asset acquisition disposition

A change of control: Viking Investments Group LLC, having bought a controlling stake in Synthenol on August 15, 2008 at a 79% premium to market, received 284,637 more Synthenol shares in exchange for releasing the company from $270,405 of debt it held -- the direct origin of the 'Viking' name that would eventually replace Synthenol's.

material agreement

The poker.com domain and trademark dispute was resolved: Communication Services Inc. paid $435,000 into trust to settle with LegalPlay and Uninet, and LegalPlay received $42,000 cash plus 250,000 of its own shares back.

asset acquisition disposition

VIKING ENERGY GROUP, INC. deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice