After initially raising $2.1 million in the first quarter of 2006 and successfully completing a reverse merger in August 2006, EnerJex began trading on the OTC:BB in March 2007 under the stock symbol EJXR.

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 $7.5 million to drill and complete 70 new wells and close on four acquisitions. Many of EnerJex's wells are in various stages of completion and should continue to increase its BOPD output over the next 1-3 months.

In October 2007 EnerJex 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%). The PV 10 as of September 31 2007 was $26.4 million.

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