CoJax Oil & Gas Corp (OTC: CJAX)

CoJax Oil & Gas Corp is an early stage development oil and gas company seeking to become an independent energy producer. It concentrates on acquiring and developing crude oil and natural gas properties in the Gulf States Drill Region. The company aims to build a portfolio of low risk assets that can generate sustainable cash flow. It was incorporated in the Commonwealth of Virginia in November 2017 and commenced operations after acquiring Barrister in November 2020. Its current asset base includes interests in wells and acreage located in Mississippi and Alabama.

The company generates revenue primarily from the sale of crude oil and natural gas produced from its properties. It markets its production on a month to month basis through purchasers who handle the sale of the hydrocarbons. Revenue depends on the volume of production and prevailing market prices for oil and gas.

CoJax Oil & Gas Corp operates as a small independent producer in a competitive region that includes many larger companies with extensive histories and established market share. Its competitive advantages derive from the experience of its chief executive officer who has over forty two years in the industry and from its reliance on experienced contractors to manage drilling and production. The company’s current modest production levels keep it below the radar of larger competitors allowing it to operate with limited competitive pressure. However any significant increase in output could attract more rivalry.

The company sells its oil and gas to various purchasers that include marketers traders and possibly refiners who take delivery of the hydrocarbons under month to month arrangements. Specific customer names are not disclosed in the filing but the buyer base consists of entities engaged in the downstream marketing of petroleum products.