Energy & Mining International - Summer 2012 - (Page 248)

E M I ENERJEX RESOURCES INC. SUMMER 2012 Resources On the Move After a merger and a year focused on an operational turnaround, EnerJex Resources is focused on ramping up production. EnerJex Resources has three producing. projects in Kansas, and is exploring others.. • San Antonio, Texas “Our strategy is to try and find fields that have been discovered in the past but have never been fully developed.” // ROBERT WATSON JR., CEO in the past but have never been fully developed,” Watson says. “We looked for assets that fit our philosophy of building a long-lived oil portfolio, and found some at EnerJex.” For 2011, EnerJex focused on turning around its performance. This included acquiring oil assets and converting subordinated debentures into common stock at a price of $0.80 per share. It also renewed a $50 million credit facility, which it can use to prudently develop reserves. The company raised $8.5 million through common equity PIPEs in 2011, using the majority of those funds to get projects going, increase cash flow and repurchase shares. It also sold some of its non-core assets in Kansas, which allowed EnerJex to repay debt and positively adjust its operating cost structure. [ BY ERIC SLACK ] EnerJex Resources Inc. is a domestic onshore oil company that is on its way up. As part of a merger in 2010, it acquired Black Sable Energy LLC, changed its top management and moved its headPROFILE quarters to Black Sable’s home base of San Antonio. Robert Watson Jr. was a co-founder of Black Sable and became CEO of EnerJex after the merger. “Our strategy at Black Sable was to try and find fields that have been discovered POSITIVE PROSPECTS Right now, the company has three producing projects. The Rantoul Project in Miami and Franklin counties in Eastern Kansas are part of the Paola Rantoul Field. EnerJex has a working interest of 81 percent in 1,700 acres, having drilled and completed 75 new wells in the Rantoul Project in 2011. EnerJex Resources Inc.. | HQ: San Antonio | Employees: 16 | Revenue: $6.3 million Specialty: Domestic onshore oil exploration and production 248

Table of Contents for the Digital Edition of Energy & Mining International - Summer 2012

Energy & Mining International - Summer 2012
Wind Financing
Latin American Energy
Mining Developments
Wabash Mfg. Inc.
Mega Precious Metals
Iron Ore Company of Canada
Rainy River Resources Ltd.
Canada Energy
Gear Energy
Manitok Energy Inc.
Chieftain Metals
IC Potash
Nyrstar Langlois Mine
Phoenix Technology Services Inc.
Waycon Manufacturing Ltd.
Tuscany International Drilling
Latin America Focus
Canacol Energy
Orosur Mining
Lithium One Inc.
Cabo Drilling (Panama) Corp.
Continental Gold Ltd.
Guyana Oil Co. Ltd.
Batero Gold Corp.
The Williston Basin
Primary Petroleum
Sanjel Corp.
Summit Energy Services
Kengor Metals LLC
Stone Energy
Holloway Pipe
McFarren Group – Appalachian Transload Services
Trumbull Corp.
De-Cal Mechanical
Buck’s Fabricating
ITI Trailers & Truck Bodies
Hamilton Machine/ ValTek Industries
Rodenberg Diversified LLC
Mazzella Lifting Technologies
Independence Excavating
Magna-Solutions LLC
Blackhawk Specialty Tools LLC
MinExpo 2012
Rail-Veyor Technologies
STW Technic
RAM Enterprise
Miner Elastomer Products Corp.
McElroy Manufacturing
REICHdrill Inc.
Gunnebo Johnson Corp.
The Timken Co.
K/M Specialty Pumps & Systems Inc.
Schroeder Industries
The Reinforced Earth Co.
Geoprobe Systems®
Sumitomo Pogo Mine LLC – Pogo Mine
Power Service Inc.
National Pump Co.
Peak Oilfield Service Co.
TonaTec Exploration
Xtreme Oil & Gas Inc.
White Tiger Gold
TransAtlantic Petroleum Ltd.
Lydford Mining Co.
MFM Industries Inc.
Crescent Companies
Tri State Tank
Aquila Resources
Armstrong Coal
EnerJex Resources Inc.
Sanchez Energy Corp.
Chatham Steel Corp.
Ad Index
The Final Shot

Energy & Mining International - Summer 2012