Payment of JIBs By Coal Creek from Agreement
THIS AGREEMENT (the "Agreement") is entered into this 1st day of May, 2014 ("Effective Date"), by and among ENERJEX KANSAS, INC., a Nevada corporation ("EnerJex"), WORKING INTEREST, LLC, a Kansas limited liability company ("WILLC"), VIKING ENERGY PARTNERS, LLC, a Texas limited liability company ("Viking"), and COAL CREEK ENERGY, LLC, a Kansas limited liability company ("Coal Creek", and together with EnerJex, WILLC, and Viking, individually a "Party" and collectively the "Parties").
Payment of JIBs By Coal Creek. At closing of this Agreement, Coal Creek shall immediately pay to EnerJex in certified or other immediately available funds the amount of $69,000.00, which is the estimated outstanding balance owed by Coal Creek to EnerJex under joint interest billings ("JIBs") covering the period through April 30, 2014. To the extent the actual, final amount varies, it will be subject to post closing adjustment pursuant to paragraph 6 below.