Business Context and Reporting Period
This Form 8-K is filed by EnerJex Resources, Inc., a Nevada corporation, with a report date of December 16, 2011. The filing discloses the completion of a significant asset disposition involving oil and gas leasehold interests.
Key Financial Metrics
The filing reports a specific transaction value but does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting period.
- Transaction Proceeds: $4,025,000 from the sale of leasehold interests.
- Assets Sold: Producing and non-producing oil leases in Douglas and Johnson Counties, Kansas.
- Buyer: IDH Energy, LLC.
Material Changes
The primary material change is the disposition of assets. On December 16, 2011, the Company, through its wholly-owned subsidiaries (Working Interest, LLC, DD Energy, Inc., and EnerJex Kansas, Inc.), sold the aforementioned leasehold interests pursuant to an Option Agreement granted on November 16, 2011. This transaction was publicly announced via a press release on December 21, 2011.
Guidance, Outlook, and Risks
The filing text does not provide forward-looking guidance, management commentary on future outlook, specific risk factors, or contingencies beyond the disclosure of the asset sale. The press release attached as Exhibit 99.1 is explicitly noted as not being "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the exact nature and remaining value of the oil leases sold in Douglas and Johnson Counties, Kansas.
- Confirm the impact of the $4,025,000 proceeds on the Company's overall liquidity and balance sheet.
- Review the attached press release (Exhibit 99.1) for additional context not included in the 8-K text.
- Check subsequent filings for updated financial statements reflecting this transaction.