Item 1.03 Bankruptcy or Receivership.

As previously disclosed via Form 8-K filed, on April 9, 2020, with the Securities and Exchange Commission (the "8-K"), on April 6, 2020 Amazing Energy Oil & Gas, Co. (the "Company") filed Chapter 11 Bankruptcy petitions, in the Southern District of Mississippi, for three (3) of its wholly owned subsidiaries. Those three subsidiaries placed into Bankruptcy are: Amazing Energy, LLC ("AE"), Amazing Energy Holdings, LLC ("AEH") and Amazing Energy MS, LLC ("AEMS"). AE, AEH and AEMS are the entities that own and operate the Company's holdings in Texas, New Mexico and Mississippi. The Company itself has not filed for Bankruptcy protection in any jurisdiction.

The Company is filing this amendment to the 8-K for the purposes of disclosing that on January 10, 2022 the United States Bankruptcy Court for the Eastern District of Texas, Sherman Division (the "Court"), entered the Order Establishing Bidding Procedures in Connection with Sale of Certain Debtor Assets (the "Order"). The Order establishes the bidding procedures for the assets of Company subsidiaries AE, AEMS and AEH, in conjunction with the liquidation of those subsidiaries, under the jointly administered Case No. 20-41558 (the "Case").

Any interested person, who is qualified by the Court may bid for some, or all, of the assets, which are subject to the Order, in accordance with the procedures established by the Court. Interested parties should refer to the Court records of the Case for more information regarding the bankruptcies, the assets involved and the procedure for bidding.

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