EnerJex Resources, Inc. reported 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.

Tags: EnerJex Resources