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EnerJex Resources Inc. (ENRJ)
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10/22/2017 12:21:41 PM
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Company Web Site
EnerJex is a domestic onshore oil company with assets located in Eastern Kansas and South Texas. The Company's primary business is to explore, develop, produce and acquire oil properties onshore in the United States. Enerjex presently owns a majority interest in approximately 500 producing oil wells and has the potential to drill thousands of additional wells on its existing leaseholds.
EnerJex Announces Formation of General Partnership to Drill Up to 150 New Wells
SAN ANTONIO, Dec. 19, 2011 /PRNewswire/ -- EnerJex Resources, Inc. (OTCMarkets: ENRJ) ("EnerJex" or the "Company"), a domestic onshore oil company, announced today that it has formed a general partnership named "Rantoul Partners" in order to develop the Company's Rantoul Project assets located in Eastern Kansas.
EnerJex contributed its existing Rantoul Project assets to the partnership at an agreed upon value of $15 million, and two investors are scheduled to contribute a total of $5 million, which would enable the partnership to drill approximately 150 new wells. Management expects the additional wells funded by this transaction to more than double production from the Rantoul Project to in excess of 200 barrels of oil per day.
Upon closing of this transaction, the investors immediately funded $2.35 million in return for an 11.75% ownership interest in the partnership, and they are scheduled to fund an additional $2.65 million in multiple tranches over the next 14 months. EnerJex currently owns 88.25% of the partnership and will own 75% if the full $5 million is funded as scheduled.
Rantoul Partners was structured in a manner which is expected to provide the investors with certain tax benefits as well as the opportunity to participate in the future cash flow of the partnership's assets. At the end of 2010, EnerJex had a net operating loss carry forward of approximately $10 million, which has increased significantly during 2011 as a result of the Company's aggressive capital expenditures program. Therefore, EnerJex does not expect to pay income taxes in the foreseeable future. As a result, EnerJex is in a position to make special tax allocations to investors under the general partnership structure, which meaningfully enhances the potential return from their investment. The Company is considering the formation of additional general partnerships to further the development of its assets in an accretive manner for shareholders.
EnerJex's CEO, Robert Watson, Jr., commented, "I would like to thank Texas Capital Bank and the investors for working with the Company to complete this transaction, which is expected to result in significantly higher net production, cash flow, and proved reserve value for EnerJex with no dilution to shareholders. The formation of Rantoul Partners is a creative solution that I truly believe is a win-win for both the Company and the partnership's investors."
ENRJ Detailed Quote
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CORECCION 6.000.000 : 10.000.000 = 0,60 DOLARES ~
10/22/17 12:21:41 PM
VALUE OF ENRJ AFRTER MERGER 0,60 / SHARE ~
10/22/17 12:17:16 PM
* * $ENRJ Video Chart 10-20-17 * *
10/20/17 04:11:22 PM
Should I ask 'how low can this go?'
10/20/17 03:52:23 PM
What you should do is buy ENRJP -
10/20/17 03:28:17 PM
65 cents on ENRG implies a $120mm market
10/20/17 03:25:20 PM
10/20/17 03:23:34 PM
I bot because the idea intrigues me.
10/20/17 03:21:55 PM
10/20/17 03:07:26 PM
expecting strong close to .65 area
10/20/17 02:18:35 PM
look at weekly chart. just another pump &
10/20/17 12:40:38 PM
found support at .45
10/20/17 12:34:21 PM
yikes, hope this rebounds
10/20/17 12:24:10 PM
G&T so far
10/20/17 12:16:38 PM
10/20/17 12:14:01 PM
in @ .49 let's go
10/20/17 11:42:06 AM
10/20/17 11:10:20 AM
.48 start, I think an algorithm vied.
10/20/17 10:27:59 AM
•In a 2016 report, Goldman Sachs labeled AgEagle
10/20/17 10:22:02 AM
Now that was unexpected. Added .545.
10/20/17 10:20:04 AM
.54's now thats a big dip from .85's
10/20/17 10:11:33 AM
Picked up some .59's > intra-session consolidation!
10/20/17 10:10:40 AM
here comes the flush. Wonder if this
10/20/17 09:59:45 AM
nice dip @ .61's
10/20/17 09:55:49 AM
Current market cap: 6.75 mil...so I think I'll
10/20/17 09:55:14 AM
Yes, NEOT burnt the hell out of them
10/20/17 09:53:29 AM
10/20/17 09:48:06 AM
Upon completion of the Merger transaction, EnerJex’s Common
10/20/17 09:47:41 AM
Smokin!! Double the float trading already if
10/20/17 09:47:11 AM
Next waiting to merge is Monster Digital (MSDI)
10/20/17 09:47:05 AM
certainly looking GOOD so far!!!
10/20/17 09:41:17 AM
Exactly! ENRJ is a super low floater.
10/20/17 09:40:42 AM
Welcome aboard Crude! Nice mini-dip here.
10/20/17 09:39:35 AM
Got a few .72's
10/20/17 09:36:23 AM
All the dumb shorts going to town in
10/20/17 09:35:42 AM
10/20/17 09:34:34 AM
10/20/17 09:31:07 AM
I've been holding ENRJ for weeks waiting on
10/20/17 09:24:42 AM
Agree...also rather interesting that we have so many
10/20/17 09:22:01 AM
And the drone market is huge right now.
10/20/17 08:54:38 AM
Could get wicked heading into that 9:30 bell.
10/20/17 08:52:16 AM
RM with commercial drone company. Interesting choice
10/20/17 08:50:04 AM
Yeah, this should get real interesting....
10/20/17 08:49:34 AM
Wait for that block volume to come in
10/20/17 08:39:51 AM
Another small float reverse merger.
10/20/17 08:23:01 AM
10/20/17 07:09:29 AM
They're preparing to merge or BO. EnerJex CFO
09/23/17 01:55:44 PM
Yeah what's going on with this? Will it
09/22/17 10:05:42 AM
Come on Longs let's knock out this 46K
09/22/17 09:30:29 AM
U see that blocker move his 46k down
09/22/17 09:23:00 AM
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