CoJax Oil and Gas Corporation

Overview

CoJax Oil and Gas Corporation is an early-stage oil and gas company focused on acquiring, exploiting, and developing crude oil and natural gas properties in the Gulf States Drill Region. The company targets producing or underexploited properties and rights, then improves cash flow through operational efficiencies, recompletions, infill drilling, and related activities. CoJax operates with a contractor-based model to limit fixed overhead; current contractors include Central Operating, LLC (COP) and Taxodium Energy, LLC.

Key assets and transactions

• Barrister acquisition (Nov 2020): acquired Barrister’s crude oil and natural gas leases and rights.
• NONOP assets (Mississippi/Alabama): acquired via Taxodium in Oct 2022 (effective Oct 1, 2022 for accounting).
• Buckley assets (Mississippi): acquired Dec 2, 2022 (effective Dec 2, 2022).
• Liberty Operating Company, LLC assets (Mississippi): acquired in two steps, May 31, 2024 (effective May 1, 2024) and Aug 29, 2024 (effective July 1, 2024).
• Reassignment of NONOP assets: effective July 1, 2025, CoJax reassigned 100% of its NONOP interests to Taxodium; by Oct 22, 2025, 100% ownership of those assets transferred to Taxodium in exchange for release of payables.

Current portfolio (as of year-end 2025)

• Wells: 27 gross wells (26.8 net) in the United States.
• Developed acreage: 3,164 gross acres (2,935 net).
• Undeveloped acreage: 644 gross acres (586 net).

The company’s historical production base included many non-operating assets; production activity has improved following acquisitions.

Production and operating metrics (selected, from the 2025 10-K)

Net production (Barrister-based figures)

• Oil: 12,664 barrels (2023); 14,220 barrels (2024); 14,636 barrels (2025).
• Gas (Mcf): 4,940 (2023); 225 (2024); 0 (2025).
• Total production (BOE): 13,488 BOE (2023); 14,257 BOE (2024); 14,636 BOE (2025).

Average production prices

• Oil: $79.61/Bbl (2023); $71.38/Bbl (2024); $67.75/Bbl (2025).
• Natural gas: $2.88/Mcf (2023); $4.54/Mcf (2024); $0.00/Mcf (2025).

Average production costs (per BOE)

• $18.43 (2023); $25.05 (2024); $28.56 (2025).

These figures reflect Barrister’s legacy production quantities used as the basis for the calculations in the filing.

Employees and governance

• Two full-time employees:
  • William R. Downs — Chief Executive Officer (over 42 years in the oil and gas industry).
  • Jeffrey J. Guzy — Chief Financial Officer.
• Day-to-day operations rely on experienced contractors (e.g., COP and Taxodium) for drilling, storage, and production.

Marketing

• The company markets its crude oil and natural gas production on a month-to-month basis.

Financial condition and liquidity

• CoJax has incurred operating losses since inception and reported a working capital deficit.
• The company’s independent auditor included an explanatory paragraph regarding the company’s ability to continue as a going concern.
• Funding history includes officer loans and small capital raises. An IPO in 2020–2021 raised approximately $53,000.
• Management expects to pursue additional financing (equity, debt, or other arrangements) to fund operations and growth.

Corporate headquarters

• Principal office: 4830 Line Avenue, Suite 152, Shreveport, Louisiana 71106
• Phone: (703) 479-8538
• Website: www.cojaxoilandgas.com

Stock market and regulatory status

• Common stock trades on OTC Markets (OTC ID Market tier) with limited liquidity.
• The company has experienced past reporting and listing developments; it is currently classified in a tier for issuers that are current in SEC reporting obligations.
• CoJax identifies as an emerging growth company (EGC) under the JOBS Act and as a smaller reporting company.