SAN ANTONIO, May 22, 2013 /PRNewswire/ -- EnerJex
Resources, Inc. (OTCMarkets: ENRJ) ("EnerJex" or the "Company"), a
domestic onshore oil company, announced today that it has sold two
non-core oil leases in Eastern
Kansas to a third-party for total net proceeds of
approximately $450,000. These
properties are located outside of EnerJex's core operating areas,
and this divestiture is expected to lower the Company's unit
operating expenses. No value was attributed to these assets in
EnerJex's borrowing availability under its credit facility with
Texas Capital Bank.
Management Comments
EnerJex's CEO, Robert Watson,
Jr., commented, "I am pleased to announce this non-core
asset sale, which will further streamline the Company's operations
and allow management to focus more attention on growth
opportunities."
About EnerJex Resources, Inc.
EnerJex is a domestic onshore oil company with assets located in
Eastern Kansas and South Texas. The Company's primary business is
to acquire, develop, explore and produce oil properties onshore in
the United States. Additional
information is available on the Company's web site at
www.enerjex.com.
Forward-Looking Statements
This press release and the materials referenced herein
include "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements give EnerJex's
current expectations or forecasts of future events. The statements
in this press release regarding the acquisition of operating assets
and related agreements; any implied or perceived benefits from any
current or future transaction, and any other effects resulting from
any of the above, are forward-looking statements. Such statements
involve risks and uncertainties, including but not limited to:
whether acquired properties will produce at levels consistent with
management's expectations; market conditions; the ability of
EnerJex to obtain financing for continued drilling; the costs of
operations; delays, and any other difficulties related to producing
oil; the ability of EnerJex to integrate the newly purchased assets
and any newly acquired employees; the price of oil; EnerJex's
ability to market and sell produced minerals; the risks and effects
of legal and administrative proceedings and governmental
regulation; future financial and operational results; competition;
general economic conditions; and the ability to manage and continue
growth. 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 are set forth in our Form 10-K filed
with the United States Securities and Exchange Commission and our
Form 10-Q. 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. EnerJex's production forecasts are dependent upon many
assumptions, including estimates of production decline rates from
existing wells and the outcome of future drilling activity.
Although EnerJex believes the expectations and forecasts reflected
in these and other forward-looking statements are reasonable, it
can give no assurance they will prove to have been correct. They
can be affected by inaccurate assumptions or by known or unknown
risks and uncertainties.
Contact
EnerJex Resources, Inc.
Robert Watson, Jr., CEO
Phone: (210) 451-5545
or
Investor Relations
Equity Market Advisors, LLC
Daniel Vernon, EMD Advisor
Phone: (405) 230-1124
Email: dv@equitymarketadvisors.com
SOURCE EnerJex Resources, Inc.