CoJax Oil & Gas Corp (CJAX): M&A transaction — CoJax Oil & Gas amends 8-K to provide acquired properties financials; 1.32M shares at $2 each for Mississippi assets

CoJax Oil & Gas Corp

Acquired MS oil/gas properties from Liberty Operating for 1,320,755 shares valued at $2.00 per share ($2.6M).
2023 revenue $165K, direct op expenses $102K, excess over expenses $63K; Q1 2024 revenue $30K, excess $13K.
Proved reserves 89 MBbls at Dec 31, 2023; standardized measure of discounted future net cash flows $523K.
Acquisition effective May 1, 2024; shares issued under Section 4(a)(2) exemption.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CoJax Oil & Gas Corp completed an acquisition involving Liberty Operating, LLC for 1,320,755 shares of the Common Stock issued to Liberty, at the adjusted valuation of $2.00 per share (closed 2024-05-31).

Action: acquisition
Counterparty: Liberty Operating, LLC
Consideration: 1,320,755 shares of the Common Stock issued to Liberty, at the adjusted valuation of $2.00 per share
Closing: 2024-05-31

Exact text from the filing

amend its Current Report on Form 8-K filed with the Securities and Exchange Commission on June 6, 2024 (the "Original Report"), to provide disclosures required under Items 1.01, 2.01 and 9.01 of Form 8-K that were omitted from the Original Report, including the required financial statements of the Acquisition and the required pro forma financial information,

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Source: SEC EDGAR

accession 0001753926-24-001451

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