EnerJex Converts Senior Debt To Common Stock

By San Antonio Business Journal

EnerJex Resources Inc. said Friday that $2.68 million worth of senior secured debentures have been converted into EnerJex common stock based on a price of 80 cents per share.

San Antonio-based EnerJex (OTCBB: ENRJ), a domestic onshore oil company, also announced that its CEO and entire board of directors resigned from the company effective Dec. 31, 2010. Robert Watson Jr. is the new CEO and Watson, Lance Helfert, James Miller and Atticus Lowe have all joined the board.

EnerJex explores, develops, produces and acquires oil properties in Eastern Kansas and South Texas. The company currently owns a majority interest in 500 active oil wells.

For more information, visit this link.

www.enerjexresources.com

Copyright 2011 American City Business Journals

http://www.bizjournals.com/sanantonio/news/2011/01/07/enerjex-converts-senior-debt-to-common.html?ana=thestreet

Copyright bizjournals.com 2010

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