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EnerJex Resources Inc. (ENRJ)

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Last Post: 7/15/2018 11:12:42 PM - Followers: 29 - Board type: Free - Posts Today: 0



Company Web Site
http://www.enerjexresources.com/



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. 

Management Comments 

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." 

http://ih.advfn.com/p.php?pid=nmona&article=50472918 

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#559   Where's enerJex CarlCarlMcB 03/30/18 07:02:14 AM
#558   Untradeable stock. Just get to sit here and moorecj1976 03/29/18 01:01:04 PM
#557   Now you know why they were not worried dragon52 03/28/18 01:04:49 PM
#556   ENRJ/UAVS https://globenewswire.com/news-release/2018/03/27/1453686/0/en/AgEagle [SMART MONEY] 03/28/18 01:00:22 PM
#555   Hummm..... my Robinhood account isn’t letting me yet. Familyman-5 03/27/18 03:49:37 PM
#554   its done already and trading under UAVS dragon52 03/27/18 12:39:14 PM
#553   Anyone know how long this transfer to new Familyman-5 03/27/18 12:38:06 PM
#552   Probable new symbol will be UAVS... dragon52 03/27/18 12:08:43 PM
#551   * * $ENRJ Video Chart 03-26-18 * * ClayTrader 03/26/18 05:24:30 PM
#550   certainly has upward momentum today nokomis 03/26/18 11:35:10 AM
#549   Hard 11 CarlCarlMcB 03/22/18 06:54:36 PM
#548   * * $ENRJ Video Chart 03-22-18 * * ClayTrader 03/22/18 05:21:00 PM
#547   Should we hold, sell or buy more? stockman89 03/22/18 01:50:09 PM
#546   Right on that . is to bring value Explorergypsy1 03/22/18 12:54:51 PM
#545   Done buying for today... got enough imo dragon52 03/22/18 12:51:43 PM
#544   If this was just a regular RS to dragon52 03/22/18 12:46:09 PM
#543   closer to $1... dragon52 03/22/18 12:36:21 PM
#542   Right now MM's are waiting for sellers so dragon52 03/22/18 12:34:17 PM
#541   unjustified drop of price Imo RS scared soft hands Explorergypsy1 03/22/18 12:32:39 PM
#540   It could happen before, but imo dragon52 03/22/18 12:07:23 PM
#539   But then again....lol pumpers.... moorecj1976 03/22/18 10:24:04 AM
#538   Pre-Market down 17%...geez. why did they put dicer666 03/22/18 08:57:05 AM
#537   Market did not like the news after the dicer666 03/22/18 06:19:34 AM
#536   you are doing great job catching in right Explorergypsy1 03/22/18 05:42:51 AM
#535   Interesting... Common stock, $0.001 par value, 250,000,000 shares auth dragon52 03/22/18 03:52:11 AM
#534   Only 6 more hours til this baby starts stockman89 03/22/18 12:41:04 AM
#533   RE: Dicer666 turbo996 03/21/18 09:46:08 PM
#532   “The Company plans to conduct a 25 for dicer666 03/21/18 07:09:22 PM
#531   ENRJ wow 1:25 R/S that's a GBSN/TOPS style hosing wickerman 03/21/18 05:20:32 PM
#530   Nothing to do but hook in and hold turbo996 03/21/18 05:08:08 PM
#529   Post market does not seem to like the BiddingontheAsk 03/21/18 04:53:27 PM
#528   With low float, they decided to kill the dicer666 03/21/18 04:38:36 PM
#527   https://www.nasdaq.com/press-release/enerjex-resources-stockholders-vote-in-favo Heycenda 03/21/18 04:34:25 PM
#526   Why would they do 25:1 split? Why dicer666 03/21/18 04:29:14 PM
#525   RE:Heycenda Thx for info. 25to1 owee. Hoping 20 turbo996 03/21/18 04:22:53 PM
#524   Merger approved, also r/s 25:1 Heycenda 03/21/18 04:12:43 PM
#523   Steady (within .1) climb to .55 will fire turbo996 03/21/18 03:50:02 PM
#522   Nokomis not Nokimis Dammit I wasted a post turbo996 03/21/18 03:16:36 PM
#521   Nokimis called it. turbo996 03/21/18 02:58:02 PM
#520   more volume coming in. Up nokomis 03/21/18 02:51:06 PM
#519   vol. and gap filled @ .29 Up from here nokomis 03/21/18 02:34:48 PM
#518   Nokomis I agree. .29 to .3 is turbo996 03/21/18 02:10:42 PM
#517   Nothing like being able to pick up bargains dragon52 03/21/18 01:12:12 PM
#516   impressed by .30 support nokomis 03/21/18 01:05:59 PM
#515   RE: Nokomis turbo996 03/21/18 01:02:33 PM
#514   the seem to park at 200dma .26 or nokomis 03/21/18 12:51:49 PM
#513   My guess is after market closes. dicer666 03/21/18 11:50:44 AM
#512   Were the merger results going to be announced BiddingontheAsk 03/21/18 11:39:23 AM
#511   Oops. Sorry CarlCarlMcB turbo996 03/21/18 11:24:23 AM
#510   "Not"stradamus. Have to change my handle. turbo996 03/21/18 11:15:09 AM
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