EnerJex

[dan_s]

ENERJEX ANNOUNCES MAJOR ACCELERATION OF RANTOUL OIL PROJECT DEVELOPMENT

San Antonio, Texas (April 5, 2012) – EnerJex Resources, Inc. (OTCMarkets:ENRJ) (“EnerJex” or the “Company”), a domestic onshore oil company, announced today that Rantoul Partners has received funding of $1 million from one of its investors approximately four months ahead of schedule. In addition, the partnership has received a binding commitment from that investor for $1 million of funding by May 1, 2012, nearly one year ahead of schedule, plus a non-binding commitment for $650,000 of funding on December 1, 2012, approximately three months ahead of schedule.

As a result, the Company will be able to fund the development of a major portion of its Rantoul Project well ahead of schedule. EnerJex expects to complete approximately 75 new wells in this project during the next three months, and it has already contracted two rigs and begun drilling.

Rantoul Partners is a general partnership that was created to fund the development of the Rantoul Project in an accretive manner that results in no share dilution or capital requirements for the Company. The partnership has received $3.35 million of funding from its investors over the past four months, and is scheduled to receive an additional $1.65 million over the next eight months. EnerJex’s ownership interest in the partnership was reduced from 88.25% to 83.25% effective April 1, 2012, and will be reduced to 75% once the remaining $1.65 million is funded as scheduled.

Management Comments
EnerJex’s CEO, Robert Watson, Jr., commented, “The Rantoul Project has outperformed our expectations and I believe the general partnership has proven to be a win-win for both the Company and its partners, which are expected to receive significant tax benefits associated with their investment. We have achieved a 100% drilling success rate in this project, and accelerating the pace of development should enable us to take advantage of the strong oil price environment and favorable climate conditions in the months ahead. EnerJex is on pace to significantly increase its oil production, reserves, and cash flow in a manner that is accretive to shareholders in 2012.”

About EnerJex Resources, Inc.

EnerJex is a domestic onshore oil company with assets located in Eastern Kansas and South Texas. The Company’s primary business is to acquire, develop, explore and produce oil properties onshore in the United States. Additional information is available on the Company’s web site at www.enerjexresources.com.

[dan_s]

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