ENERJEX RESOURCES, INC. (OTCMKTS:ENRJP) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On April 10, 2017, EnerJex Resources, Inc., a Nevada corporation (the “Company”), obtained an unsecured loan in the principal amount of $150,000 from an affiliate of the holder of our issued and outstanding shares of Series B Preferred Stock (the "lender"). The loan will mature and be due and payable on April 24, 2017, at which time we either will repay the loan or we will convert the principal of the loan into shares of a class of our preferred equity securities on terms to be negotiated with the lender. We presently intend to engage in negotiations with the lender regarding the terms on which the principal of that loan may convert into shares of our preferred equity securities, and also to continue to explore the availability of debt or equity capital from other sources. In the negotiations that have occurred to date, lender has indicated a willingness to convert the loan into a new class of preferred equity securities only at a conversion price of $0.30 per share, which is a conversion price at a slight discount to our average daily weighted average trading price for the 20-trading-day period ended April 5, 2017. There can be no assurance whatsoever that we will be able either to obtain the funds with which to repay this loan, or that we will reach agreement with the lender for the conversion of the loan principal into shares of our preferred equity securities.

About ENERJEX RESOURCES, INC. (OTCMKTS:ENRJP)

EnerJex Resources, Inc. is an independent energy company. The Company is engaged in the acquisition, development, exploitation and production of crude oil and natural gas properties in the United States. The crude oil and natural gas is obtained by the acquisition and subsequent exploration and development of mineral leases. Development and exploration include drilling exploratory or development wells on these leases. These operations are conducted primarily in Kansas, Colorado, Nebraska and Texas. The Company’s Colorado properties include Adena, Hereford, Seven Cross, Niobrara-Colorado and Niobrara-Nebraska. The Company’s Kansas properties include Mississippian Project and Cherokee Project. Its Texas properties include El Toro Project. The Company’s total net proved oil and gas reserves are approximately 2.6 million barrels of oil equivalents (BOE).

ENERJEX RESOURCES, INC. (OTCMKTS:ENRJP) Recent Trading Information

ENERJEX RESOURCES, INC. (OTCMKTS:ENRJP) closed its last trading session up +0.32 at 1.07 with 1,700 shares trading hands.