Vivakor and Olenox Execute LOI Amendment for Approximately $36 Million Oklahoma Midstream Asset Sale

Vivakor, Inc. (Nasdaq: VIVK) (“Vivakor” or the “Company”), an integrated provider of energy transportation, storage, reuse, and remediation services, today announced that it has executed an amendment to its previously announced Letter of Intent with Olenox Industries, Inc. (Nasdaq: OLOX) in connection with the proposed sale of the Company's CPE Gathering MidCon, LLC business. The amendment reflects the parties' continued progress toward meeting customary closing conditions and establishes a target closing date of July 31, 2026. Since execution of the original Letter of Intent, the parties have continued to advance due diligence, obtain required third-party consents, negotiate definitive transaction documentation and satisfy other customary closing requirements. To provide adequate time to complete these remaining items, the parties have agreed to target a July 31, 2026 closing and continue working toward execution of definitive transaction agreements and satisfaction of all remaining closing conditions. CPE Gathering operates the Omega system, an on-basin midstream platform that provides crude oil gathering, transportation, terminaling and pipeline connectivity throughout the STACK region of Oklahoma. Omega is positioned to generate stable, fee-based cash flows, reduce hauling and terminaling costs for producers, and provide a scalable platform to improve operational uptime and lower operating expenses. The transportation assets also offer producers flexible, cost-competitive gathering and transportation services to a network of st...