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Press Release - EnerJex Resources, Inc. (EJXR-OTC: BB) |
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“As of a couple years ago, the state of Kansas was the fifth largest oil producer in the country, yet there are 23,000 independent producers of which 5,000 account for 30% of the production. It is a very fragmented business and in the instance of this part of the country, you had folks who have 500 to 10,000 acres, and have only drilled a few wells. Therefore, it is primarily the local landowners who have made money over the years...” - Steve Cochennet (EJXR) (Interview published October 26, 2007) |
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ENERJEX RESOURCES FILES REGISTRATION STATEMENT FOR COMMON STOCK OFFERING Company also announces intention to file application for listing its common stock on AMEX OVERLAND PARK, KAN. (April 11, 2008) – EnerJex Resources, Inc. (OTCBB: EJXR) today announced the filing of a registration statement to publicly offer up to $28 million of its common stock, subject to market conditions, pursuant to an S-1 Registration Statement filed with the SEC. EnerJex will grant the underwriters of the offering a 30-day option to purchase up to an additional 15 percent of the shares sold in the offering at the public offering price less the underwriting discount. EnerJex is undertaking the offering to facilitate the repayment of debt, to fund a portion of its capital expenditure budget to further develop its projects and for general corporate purposes. C. K. Cooper & Company, Inc., of Irvine , California , is the lead underwriter for the offering. In connection with this filing, EnerJex also intends to apply for listing of its common stock on the American Stock Exchange (AMEX). The purpose of this listing is intended to facilitate the proposed offering and allow for broader shareholder awareness. In addition, EnerJex has filed a proxy statement with the SEC to hold a special meeting of stockholders to seek stockholder approval of a 1-for-5 reverse stock split of EnerJex’s common stock. This reverse stock split is partially intended to enable EnerJex to meet one of the initial listing standards for AMEX and position the proposed common stock offering. A registration statement relating to the common stock has been filed with the SEC, but has not yet become effective. The common stock of EnerJex may not be sold nor may offers to buy shares of EnerJex be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common stock of EnerJex in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus. Before you invest, you should read the prospectus in the registration statement for more complete information about EnerJex and the offering. You may obtain a copy of these documents by visiting the SEC website at www.sec.gov. Once available, a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from C. K. Cooper & Company at 18300 Von Karman Avenue, Suite 700 , Irvine , California 92612 , Telephone: (949) 477-9300. About EnerJex Resources, Inc.: EnerJex is an oil and natural gas acquisition, exploration and development company. EnerJex’s principal strategy is to focus on the acquisition of oil and natural gas mineral leases that have existing production and cash flow. Once acquired, EnerJex implements an accelerated development program utilizing capital resources, a regional operating focus, an experienced management and technical team, and enhanced recovery technologies to attempt to increase production and increase returns for its stockholders. EnerJex’s oil and natural gas acquisition and development activities are currently focused in Eastern Kansas . Forward Looking Statements: The statements in this press release regarding the proposed common stock offering, proxy statement or listing on the AMEX are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, market conditions, the ability of the underwriter to place the shares of common stock, the ability of EnerJex to satisfy the initial listing standards of AMEX, approval for listing the common stock on AMEX, stockholder approval of the proposed reverse stock split, and completion of ancillary matters related to the above. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements EnerJex makes in this news release include market conditions and those set forth in reports or documents it files from time to time with the SEC. EnerJex undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For
further information contact: Or
Debbie Hagen, Investor
Relations Or
Tony Schor or Lindsay
Kenoe
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