Camber Energy, Inc. (NYSEMKT:CEI) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01

Entry into a Material Definitive Agreement.

Effective January 24, 2017, Camber Energy, Inc., formerly known
as Lucas Energy, Inc. (the Company), entered into a Third
Amendment to Asset Purchase Agreement (the Third Amendment)
amending that certain Asset Purchase Agreement entered into among
the Company and twenty-three sellers (collectively, the Sellers)
and Segundo Resources, LLC, as a Seller and as a representative
of the Sellers named therein (the Representative), dated December
31, 2015, as previously amended by the First Amendment to Asset
Purchase Agreement effective April 1, 2016 and the Second
Amendment to Asset Purchase Agreement effective August 25, 2016
(as amended to date, the Purchase Agreement). The Purchase
Agreement is described in greater detail in the Companys Current
Report on Form 8-K filed with the Securities and Exchange
Commission (SEC) on December 30, 2015 and each of the amendments
is described in greater detail in the Companys Current Reports on
Form 8-K filed with the SEC on April 25, 2016 and August 31,
2016, respectively.

to the Third Amendment, the parties agreed to amend a
post-Closing covenant under the Purchase Agreement to remove the
requirement that one of the directors serving on the Companys
board of directors resign within six months of the closing of the
transactions contemplated by the Purchase Agreement.

The foregoing description of the Third Amendment is not complete
and is qualified in its entirety by reference to the Third
Amendment which is filed herewith as Exhibit 2.4 and incorporated
by reference herein.

Item 9.01

Financial Statements and Exhibits.

Exhibits

2.1

Asset Purchase Agreement by and among the Company, as purchaser,
Segundo Resources, LLC, as seller representative to the various
sellers named therein, and the sellers named therein dated
December 30, 2015 (incorporated by reference to Exhibit 2.1 of
the Form 8-K filed by the Company with the SEC on December 31,
2015).

2.2

First Amendment to Asset Purchase Agreement by and among Lucas
Energy, Inc., as purchaser, Segundo Resources, LLC, as seller
representative to the various sellers named therein, and the
sellers named therein dated April 20, 2016 and effective April 1,
2016 (incorporated by reference to Exhibit 2.2 to the Companys
Current Report on Form 8-K filed on April 25, 2016).

2.3

Second Amendment to Asset Purchase Agreement by and among the
Company, as purchaser, Segundo Resources, LLC, as seller
representative to the various sellers named therein, and the
sellers named therein dated August 25, 2016 (incorporated by
reference to Exhibit 2.1 to the Companys Current Report on Form
8-K filed on August 31, 2016).

*2.4

Third Amendment to Asset Purchase Agreement by and among the
Company, as purchaser, Segundo Resources, LLC, as seller
representative to the various sellers named therein, and the
sellers named therein dated August 25, 2016.

* Filed herewith.

Certain schedules and exhibits have been omitted to Item
601(b)(2) of Regulation S-K. A copy of any omitted schedule or
exhibit will be furnished supplementally to the Securities and
Exchange Commission upon request; provided, however that the
Company may request confidential treatment to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended, for any schedule or
exhibit so furnished.

to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

Exhibit Index

2.1

Asset Purchase Agreement by and among the Company, as purchaser,
Segundo Resources, LLC, as seller representative to the various
sellers named therein, and the sellers named therein dated
December 30, 2015 (incorporated by reference to Exhibit 2.1 of
the Form 8-K filed by the Company with the SEC on December 31,
2015).

2.2

First Amendment to Asset Purchase Agreement by and among Lucas
Energy, Inc., as purchaser, Segundo Resources, LLC, as seller
representative to the various sellers named therein, and the
sellers named therein dated April 20, 2016 and effective April 1,
2016 (incorporated by reference to Exhibit 2.2 to the Companys
Current Report on Form 8-K filed on April 25, 2016).

2.3

Second Amendment to Asset Purchase Agreement by and among the
Company, as purchaser, Segundo Resources, LLC, as seller
representative to the various sellers named therein, and the
sellers named therein dated August 25, 2016 (incorporated by
reference to Exhibit 2.1 to the Companys Current Report on Form
8-K filed on August 31, 2016).

*2.4

Third Amendment to Asset Purchase Agreement by and among the
Company, as purchaser, Segundo Resources, LLC, as seller
representative to the various sellers named therein, and the
sellers named therein dated August 25, 2016.

* Filed herewith.

Certain schedules and exhibits have been omitted to Item
601(b)(2) of Regulation S-K. A copy of any omitted schedule or
exhibit will be furnished supplementally to the Securities and
Exchange Commission upon request; provided, however that the
Company may request confidential treatment

About Camber Energy, Inc. (NYSEMKT:CEI)

Camber Energy, Inc., formerly Lucas Energy, Inc., is an independent oil and natural gas company. The Company is engaged in the acquisition and development of crude oil and natural gas from various known productive geological formations, including the Austin Chalk and Eagle Ford formations, primarily in Gonzales, Wilson and Karnes Counties, south of the city of San Antonio, Texas. As of March 31, 2016, the Company had leasehold interests (working interests) in approximately 8,395 gross acres or 8,309 net acres. Its total net developed and undeveloped acreage as measured from the surface to the base of the Austin Chalk formation is approximately 8,310 net acres. In deeper formations, it had approximately 1,909 net acres in the Eagle Ford oil window. As of March 31, 2016, the Company had produced an average of approximately 61 net barrels of oil equivalent per day (Boepd) from 26 active well bores.

Camber Energy, Inc. (NYSEMKT:CEI) Recent Trading Information

Camber Energy, Inc. (NYSEMKT:CEI) closed its last trading session down -0.014 at 0.830 with 188,086 shares trading hands.