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<SEC-DOCUMENT>0001077048-07-000526.txt : 20071025
<SEC-HEADER>0001077048-07-000526.hdr.sgml : 20071025
<ACCEPTANCE-DATETIME>20071025170539
ACCESSION NUMBER:		0001077048-07-000526
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071024
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071025
DATE AS OF CHANGE:		20071025

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EnerJex Resources, Inc.
		CENTRAL INDEX KEY:			0000008504
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				880422242
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30234
		FILM NUMBER:		071191461

	BUSINESS ADDRESS:	
		STREET 1:		7300 WEST 110TH
		STREET 2:		7TH FLOOR
		CITY:			OVERLAND PARK
		STATE:			KS
		ZIP:			66210
		BUSINESS PHONE:		913-693-4600

	MAIL ADDRESS:	
		STREET 1:		7300 WEST 110TH
		STREET 2:		7TH FLOOR
		CITY:			OVERLAND PARK
		STATE:			KS
		ZIP:			66210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MILLENNIUM PLASTICS CORP
		DATE OF NAME CHANGE:	20000525

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AURORA CORP
		DATE OF NAME CHANGE:	19990825
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ejxr8k-pr_102407.htm
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington D.C. 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Form 8-K</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CURRENT REPORT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Date of Report (Date of earliest event reported) </font></b><u><b><font size=2>October 24, 2007 </font></b></u><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid 0.5pt;padding-bottom:1;'><B><font SIZE=2>ENERJEX RESOURCES, INC.</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Name of small business issuer in its charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

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        <td width="412" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Nevada</font></p> </td>
        <td width="376" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>000-30234</font></p> </td>
        <td width="412" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>13-3349556</font></p> </td> </tr>
    <tr >
        <td width="412" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(State or other jurisdiction of incorporation)</font></p> </td>
        <td width="376" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Commission File Number)</font></p> </td>
        <td width="412" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(IRS Employer Identification No.)</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="1240" style='border-collapse:collapse'>
    <tr style='height:4.0pt'>
        <td width="612" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:4.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>7300 W. 110<sup>th</sup>, 7<sup>th</sup> Floor </font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Overland Park, KS</font></p> </td>
        <td width="600" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:4.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>66210</font></p> </td> </tr>
    <tr >
        <td width="612" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Address of Principal Executive Offices)</font></p> </td>
        <td width="600" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(Zip Code)</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Registrant&#146;s telephone number, including area code: </font><u><font size=2>(913) 693-4600</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Copies of Communications to: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Stoecklein Law Group </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>402 West Broadway, Suite 400</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>San Diego, CA 92101</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(619) 595-4882</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Fax (619) 595-4883 </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.38in; text-indent:-0.38in;text-align:left;'><font size=2>&nbsp;</font></p>


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        <td width="36" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.38in; text-indent:-0.38in;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.38in; text-indent:-0.38in;text-align:justify;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style='page-break-before:always'></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Section 8 &#150; Other Events</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 8.01 Other Events.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.51in;text-align:justify;'><font size=2>On October 23, 2007, the Registrant issued a press release disclosing production and reserves for the six months ended September 30, 2007.  On October 24, 2007, the Registrant issued a correcting press release for production for the six months ended of September 30, 2007.  A copy of the corrected press release is attached hereto as Exhibit 99.1.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Section 9 &#150; Financial Statements and Exhibits</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 9.01 Financial Statements and Exhibits.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exhibits.</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Exhibit Number</font></b></u><u></u></p> </td>
        <td width="519" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>Description</font></b></u><u></u></p> </td> </tr>
    <tr >
        <td width="71" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>99.1</font></p> </td>
        <td width="519" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Corrected Press Release dated October 24, 2007</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:left;'><font SIZE=2>ENERJEX RESOURCES, INC.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in;text-align:left;'><font size=2>By:</font><u><font size=2>/s/Steve Cochennet</font></u><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2.5in; text-indent:0.25in;text-align:left;'><font size=2>Steve Cochennet, Chief Executive Officer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Date: October 25, 2007</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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<DESCRIPTION>CORRECTED PRESS RELEASE DATED OCTOBER 24, 2007
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    <tr >
        <td width="183" >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Press Release</font></b></p> </td>
        <td width="1058" >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>Source: EnerJex Resources, Inc.</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:5pt;text-align:left;'><b><font size=3>EnerJex Announces Corrected Production and Reserves as of September 30, 2007</font></b></p>

<p style=' margin-bottom:5pt; margin-top:0pt;text-align:left;'><font size=1>Wednesday October 24, 4:58 pm ET</font><font size=2> </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><b><font size=2>EnerJex adds proved reserves of over 18% per month, with a PV 10 value in excess of $24.6 million</font></b><font size=2> </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><b><font size=2>(Corrected Version to Original Release dated October 23, 2007)</font></b><font size=2> </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>OVERLAND PARK, Kan., Oct. 24 /PRNewswire-FirstCall/ -- EnerJex Resources, Inc. (OTC Bulletin Board: </font><font COLOR="#0000FF"><U><font SIZE=2>EJXR</font></U></font><font size=2> - </font><font color="#0000FF"><u><font size=2>News</font></u></font><font size=2>) announced that its estimated total proved oil reserves increased from zero as of its year-ended March 31, 2007 to 1.1 million barrels of oil equivalent (BOE) as of September 30, 2007. Of the 1.1 million BOE of total proved reserves, 77% are proved developed and 23% are proved undeveloped. The proved developed reserves consist of proved developed producing (41%) and proved developed non-producing (36%). </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>The estimated present value -- using a 10% discount rate of the future net cash flows before income taxes of EnerJex's proved oil and gas reserves as of September 30, 2007 -- was $24.6 million, based on oil at $72 dollars a barrel and $5.18 per Mcf for natural gas. In accordance with SEC guidelines, reserve estimates do not include any probable or possible reserves from EnerJex's non-proved properties. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>EnerJex began its capital raising and drilling program in April 2007, so there is not a prior comparative period. Reserves and PV 10 values for EnerJex were zero as of March 31, 2007. These estimates are based on an independent reserve study of EnerJex's oil and gas properties prepared by McCune Engineering, an independent licensed petroleum engineering firm based in Kansas. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Total net sales for the six months ended September 30, 2007 were $589,324 and its average net daily sales production at September 30, 2007 was approximately 128 barrels of oil per day (BOPD). EnerJex's current daily production is in excess of 200 BOPD. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>EnerJex raised $9 million in April 2007 through the issuance of debentures, which was used for the development of oil and natural gas assets and for general corporate purposes. Since April 2007, EnerJex has deployed approximately $6.5 million to drill and complete 50 new wells and close on four acquisitions. Many of EnerJex's wells are in various stages of completion and should significantly increase its BOPD output over the next 1-12 months. EnerJex anticipates deploying an additional $2.5 million as part of its developmental program by the end of 2007. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Steve Cochennet, EnerJex's Chairman and CEO, stated, "I am pleased with our aggressive, developmental program commencing primarily in the second half of 2007. Our growth strategy, operational successes, and development activities have combined to add over $24 million in PV 10 value in the last six months. We have closed four acquisitions, all in eastern Kansas adding additional reserves and drilling locations in a focused area that will continue to improve our operational efficiencies. As of September 30, 2007, we drilled 50 new wells with a 96% success rate and now have over 400 additional drillable locations to continue our expansion program." </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Cochennet continued, "Going forward we will focus on the development of our existing core properties, while continuing to evaluate multiple acquisition opportunities." </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>About EnerJex Resources, Inc. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>EnerJex is an oil and natural gas acquisition, exploration and development company. Operations, conducted solely through Midwest Energy Inc., its wholly owned operating subsidiary, are focused on the mid-continent region of the United States. EnerJex acquires oil and natural gas assets that have existing production and cash flows. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Once acquired, EnerJex implements an exploration and development program to accelerate the recovery of the existing oil and natural gas reserves as well as to explore for additional reserves. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>More information on EnerJex and its operations can be found on its website: </font><font color="#0000FF"><u><font size=2>http://www.EnerJexResources.com</font></u></font><font size=2>. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Forward Looking Statements: </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>The statements in this press release regarding any implied or perceived benefits from existing oil and gas field properties, actual reserves and revenues to be derived from the reserves, plans to drill additional oil and gas wells, anticipated revenues, the acquisition of additional oil or gas leases, maintaining mineral lease rights, 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, the continued production of gas at historical rates, costs of operations, delays, and any other difficulties related to producing minerals such as oil or gas, continued maintenance of the oil field and properties, price of oil or gas, marketing and sales of produced minerals, 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. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>The reserve values stated in the McCune report are estimates and should not be interpreted as being exact quantities. They may or may not be actually recovered and the revenues stated in the report may be more or less than what will ultimately be recovered. While the reserve estimates presented in the report were believed reasonable at September 30, 2007, several factors may lead to a future revision of the reserve estimates presented in the report, including general economics, EnerJex's operations and reservoir performance. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>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. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>For further information contact: </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Ellen Fairchild, Investor Relations </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>913-642-3715 or </font><font color="#0000FF"><u><font size=2>efairchild@hagenandpartners.com</font></u></font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>



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