Each well encountered the target oil reservoir and three of them encountered an additional deeper oil reservoir that is expected to be productive.
EnerJex expects to complete six additional wells by the end of this month and plans to drill more than 100 new oil wells in this area.
The company has also secured financing from two joint venture partners on a turnkey basis to drill and complete 14 new wells on an undeveloped lease in Douglas County, Kansas.
The lease contains one discovery oil well and has the potential for up to 60 additional wells.
