Business Context and Reporting Period
This Form 8-K was filed by EnerJex Resources, Inc. on November 29, 2012, reporting events occurring on November 27, 2012. The filing concerns the Company's entry into a material definitive agreement regarding the "Rantoul Project," an oil property development venture in Kansas. The Company operates in partnership with Viking Energy Partners, LLC and FL Oil Holdings, LLC under the entity Rantoul Partners.
Key Financial Metrics
This filing is a current report regarding a specific corporate agreement and does not contain comprehensive financial statements, revenue, profit, cash flow, or margin data. The only specific financial figure disclosed is a capital contribution of $650,000 made by Viking Energy Partners, LLC to the partnership.
Material Changes
- Partnership Amendment: The Company amended the Rantoul Partners General Partnership Agreement to reflect compliance with Section 3.2(e) to the satisfaction of investor partners.
- Capital Contribution: Viking Energy Partners, LLC exercised an option to make a $650,000 capital contribution on November 27, 2012, rather than the original deadline of December 1, 2012.
- Ownership Interest Adjustment: As a result of the contribution, the Company agreed to convey a 3.25% percentage interest to Viking effective November 1, 2012. Consequently, Viking's total percentage interest in the partnership was modified to 23.250%.
Guidance, Outlook, and Risks
The filing does not provide forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard incorporation of the partnership agreement terms. The primary focus is the execution of the Second Amendment to the General Partnership Agreement. No unusual items or contingencies were disclosed in this specific report.
Investor Verification Checklist
- Verify the terms of the Second Amendment to the General Partnership Agreement (Exhibit 10.1) to understand the full scope of obligations and rights.
- Confirm the current ownership structure of Rantoul Partners, specifically Viking's 23.250% interest.
- Review the status of the "Rantoul Project" development in Kansas to assess the utilization of the $650,000 capital contribution.
- Note that the metadata provided in the request lists "Ageagle Aerial Systems Inc.," but the filing text explicitly identifies the registrant as EnerJex Resources, Inc.; verify the correct entity for investment purposes.