Robert Watson Jr. leads EnerJex Resources, an E&P with oilproducing assets in eastern Kansas and South
Texas. He transformed the company at the beginning of 2011. Previously, he founded Centerra Energy Partners and co-founded Black Sable Energy LLC. His career path began in energy investment banking at CIBC World Markets
and then in private-equity and mezzanine finance with American Capital Strategies.

Accomplishments: Led turnaround of $46-million market-cap EnerJex, San Antonio, including reconstitution of board of directors and management team, recapitalization of balance sheet, and acquisition of assets in new core operating area. Focus today is Mississippian and Cherokee shallow-oil development projects in Kansas and exploitation project in Texas. In 2012, unveiled Cherokee oil-resource play in Kansas and increased acreage position 10-fold; drilled 126 oil wells with a 98% success rate. While heading Black Sable, acquired and developed two grassroots oil projects in South Texas. Graduated from Southern Methodist University with finance degree. Third-generation oil finder and avid outdoorsman.

On turnarounds: “A turnaround requires a team effort. There are operational and financial goals, and you have to change mindsets. We had a very small staff and low overhead, so we had to be motivated and smart.”

Goals: Growth that is accretive to shareholder value while balancing portfolio risk and return. “We set out to build a portfolio of long-lived onshore oil assets. The issue now is scalability.” Aims to grow EnerJex to 1,000 barrels per day of production in the next 24 months, and to $20 million in EBITDA. Company has approximately $10 million of liquidity; recently credit facility raised from $12.15 million to $19.5 million.

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