CoJax Oil and Gas is an early-stage, development-phase oil and gas company focused on acquiring and producing crude oil and natural gas in the Gulf States region, primarily Mississippi and Alabama. CoJax operates through its wholly-owned subsidiary, Barrister Energy, and targets the Smackover Trend, a Late Jurassic carbonate formation running along the Gulf Coast. CoJax holds non-operating working interests in oil wells — meaning it owns a share of production economics but does not operate wells directly. The company currently has interests in 27 wells across roughly 3,800 gross acres, producing modest volumes of crude oil. CoJax sells its share of crude oil production at prevailing market prices, with revenue simply being barrels produced multiplied by the crude oil price, minus production costs. At current scale, gross revenue is well under $1M — insufficient to cover overhead or fund new activity without external financing. CoJax has just two full-time employees and relies entirely on third-party contractors to manage drilling, storage, and production. The company's growth strategy centers on acquiring underexploited conventional and unconventional properties at low cost, preferring stock-based or earn-out acquisitions to preserve cash, then unlocking value through well workovers, recompletions, and infill drilling. The strategy is heavily dependent on raising external debt or equity capital, without which CoJax cannot fund drilling or new acquisitions.