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.

Since April 2007, EnerJex has deployed over $8 million to close on four acquisitions and to drill 90 new wells. As a result EnerJex’s barrel of oil equivalent per day (BOPDE) has consistently increased on a month-to-month basis.

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 30, 2007 was $26.4 million.

EnerJex is focused on the Mid-continent Region.We believe that a confluence of the following events in the mid-continent region, make it an attractive area for acquisitions:

• Traditional roll up strategy utilizing capital, operations, technology, and partnership with Haas Petroleum.
• Diamond in the Rough: opportunity to acquire producing properties at below market prices.
• Grass roots presence giving the company access to negotiated transactions vs. competitive bidding on fundamentally sound assets.
• Extremely inefficient and fragmented ownership structure. Opportunity to materially capture value for companies with access to capital from public markets.