CoJax Oil & Gas Corp reported first-quarter 2026 results with revenue of $112.08K and a net loss of ($265.96K), or diluted EPS of ($0.02), versus $338.22K revenue and a ($144.81K) net loss, or ($0.01) per share, in the prior-year quarter.
Financial Highlights
MetricCurrent quarterPrior year quarterYoY changeRevenue¹$112.08K$338.22K(66.9%)Net income²($265.96K)($144.81K)(83.7%)Diluted EPS³($0.02)($0.01)(100%)¹ Reported as “Revenues”. ² Reported as “Net Loss”. ³ Reported as “loss per common share - basic and diluted”.
Business Highlights
- Revenue fell 66.9% year-over-year to $112K in Q1 2026, driven by lower production and asset transfers that reduced sales.
- Oil production declined to 1,974 Bbls from 4,340 Bbls year-over-year due to declines at Buckley and repairs at Pine Grove.
- Lease operating expenses rose 18.6% because of repair and maintenance activity, while general and administrative costs fell 29.3% on lower fees and evaluations.
- The company continues onshore Gulf States development in Mississippi and Alabama, prioritizing optimization of existing assets and pursuing strategic acquisitions; management is seeking funding to support growth plans.
Original SEC Filing:
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