Exploration & Production
EnerJex Pumps Up 3P Reserves 488%; Hits 17.2 MMBOE
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EnerJex Resources, Inc. has reported its estimated reserves for the year ending December 31, 2013.
These results include the addition of assets that were acquired through EnerJex's merger with Black Raven Energy, Inc. at the end of September 2013.
Reserve Report Highlights: Record proved reserves of 5.8 million barrels of oil equivalent (BOE), a 98% increase compared to the prior year. Record proved, probable, and possible (3P) reserves of 17.2 million BOE, a 488% increase compared to the prior year. Record proved PV-10 value (present value of pre-tax future net cash flow discounted at 10% per annum) of $102.4 million, a 68% increase compared to the prior year. Record 3P PV-10 value of $184.2 million, a 203% increase compared to the prior year.EnerJex's 2013 3P reserve estimates are…
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