By San Antonio Business Journal

EnerJex Resources Inc. has entered into a new four-year senior secured revolving line of credit with Texas Capital Bank worth $50 million.

EnerJexâ¿¿s current interest rate decreased from 6 percent to 4 percent. The companyâ¿¿s borrowing base also increased from $6.1 million in available credit to $7.2 million in available credit under the new facility. The credit facility is secured by a lien on substantially all of the companyâ¿¿s assets and subsidiaries. All borrowings under the new facility will be due and payable in full on Oct. 3, 2015.

San Antonio-based EnerJex (OTCMarkets: ENRJ) is a domestic onshore oil company with assets in Eastern Kansas and South Texas. The company expects to use the credit facility to acquire and develop oil properties in its two operating regions.

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