<img src="https://ml.globenewswire.com/Resource/Download/89ffdbcd-dcbe-45fc-805d-bece68fff440?size=2" nborder="0" align="left" hspace="5" vspace="5" title="Vivakor logo (1).png" alt="Vivakor, Inc."/>Parties continue advancing due diligence, third-party approvals and definitive transaction documentation while targeting a July 31, 2026 closing Dallas, TX, July 02, 2026 (GLOBE NEWSWIRE) -- 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 storage, blending facilities and pipeline injection points. The approximately $36 million transaction value reflects CPE Gathering's expected annual EBITDA of approximately $4.56 million generated under the Company's take-or-pay contractual arrangements. "We remain excited about the strategic transaction with Olenox and the value we believe it will create for both companies," said James Ballengee, Chief Executive Officer of Vivakor. "Both organizations continue to make meaningful progress toward closing the transaction. The additional time allows the parties to complete customary diligence, documentation and third-party approvals while maintaining our focus on executing our broader growth strategy. As we continue building momentum across the business, we believe this transaction represents another meaningful step in enhancing shareholder value and positioning Vivakor for long-term growth." The proposed transaction represents another step in Vivakor's strategy of optimizing its asset portfolio while expanding its integrated energy infrastructure platform. The Company remains focused on increasing recurring commercial activity across its transportation, storage and supply &amp; trading businesses while pursuing strategic transactions designed to enhance shareholder value and support disciplined, long-term growth. About Vivakor, Inc. Vivakor, Inc. is an integrated provider of sustainable energy transportation, storage, reuse, and remediation services, operating one of the largest fleets of oilfield trucking services in the continental United States. Its corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Vivakor’s integrated facilities assets provide crude oil, storage, transportation, reuse, and remediation services under long-term contracts. Once operational, Vivakor's interest in oilfield waste remediation facilities will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products. For more information, please visit our website: <a href="https://www.globenewswire.com/Tracker?data=HaEDMQpE1peQKhD1iLwLsOHeN6-Qz9ejol3lD1R-PFlpy39zB37PYTXGxH7A9VCtdw3Z897yYKCgI1yN1BsRiW6-o8HHDvheUebEdcfQ8mA=" rel="nofollow" target="_blank" title="">http://vivakor.com</a> Cautionary Statement Regarding Forward-Looking Statements This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor and the Endeavor Entities or the date of such information in the case of information from persons other than Vivakor and the Endeavor Entities, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the Endeavor Entities industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Investor Contact: P:469-480-7175 <a href="https://www.globenewswire.com/Tracker?data=hQZQYEr3JoWrg4xqyn9-BkZMfPILqPh7qYoQoT125b4mIr87V_FNLfBB9r9I7lh9MnUm3tyHha3kY-Cf0wyEr1MN8hM_LiGtvwb1fAdJV58=" rel="nofollow" target="_blank" title="info@vivakor.com">info@vivakor.com</a> <img alt="" src='https://ml.globenewswire.com/media/YzE1NDIzMzktNDhmZi00ZjZlLWI1YzItZjc3NzRjZWJkNzdkLTUwMDE0NzQzMi0yMDI2LTA3LTAyLWVu/tiny/Vivakor-Inc-.png' referrerpolicy='no-referrer-when-downgrade' />

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

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