SEC Filing Summary: Enerjex Resources, Inc. (Form 8-K)
Business Context and Reporting Period
This Form 8-K was filed by Enerjex Resources, Inc. on August 28, 2009. The filing reports a material definitive agreement entered into on the same date. Note: The request metadata references "Ageagle Aerial Systems Inc.," but the filing text explicitly identifies the registrant as Enerjex Resources, Inc.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the terms of a new commercial agreement.
Material Changes and Agreements
- Crude Oil Purchasing Agreement: Enerjex entered into an agreement with Coffeyville Resources Refining and Marketing, LLC.
- Term: Effective October 1, 2009, through March 31, 2011.
- Pricing Mechanism: Price is set at the arithmetic average of the daily NYMEX settling price for the West Texas Intermediate (WTI) front month contract during the delivery month.
- Adjustments: Pricing includes adjustments for location basis differential and oil quality.
Outlook, Risks, and Management Commentary
Management announced the agreement via a press release on September 1, 2009 (attached as Exhibit 99.1). The filing does not contain explicit forward-looking guidance, risk factors, or discussion of contingencies beyond the terms of the sales contract.
Key Facts for Investor Verification
- Verify the operational capacity of Enerjex to meet the volume requirements of the Coffeyville agreement.
- Confirm the specific location basis differentials and quality adjustment formulas applicable to the pricing mechanism.
- Review the attached press release (Exhibit 99.1) for additional strategic context not included in the 8-K text.
- Clarify the discrepancy between the request metadata (Ageagle Aerial Systems) and the filing registrant (Enerjex Resources).