EnerJex Resources Inc.

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
0MM
Description

EnerJex Resources Inc., Overland Park, Kan., (OTCBB: ENRJ) has retained C.K. Cooper & Co. to explore and evaluate strategic initiatives to allow EnerJex to continue its plans to grow production and reserves in the Midcontinent. EnerJex is considering either creating joint ventures to develop current leases, restructuring current debt and evaluating other options ranging from capital formation to some type of business combination. EnerJex has oil and gas operations in eastern Kansas. Proved reserves as of March 31, 2008 were 1.4 million barrels of oil and gas equivalent (82% proved developed producing). EnerJex president Steve Cochennet says, "While we continue to make steady progress in the development of our leases, we believe there are significant opportunities to increase our growth rates given current market conditions. We believe this process will create options that will allow us to position EnerJex to take advantage of these opportunities."