CoJax Oil & Gas Corp (CJAX): M&A transaction — CoJax Oil and Gas completes Mississippi oil and gas asset acquisition, issues 2.21M shares valued at $4.42M

CoJax Oil & Gas Corp

Acquired Mississippi oil & gas properties from Liberty Operating for 2,211,982 shares valued at $2.00/share ($4.42M total); effective July 1, 2024.
Audited 2023 revenue of $299,934 and direct operating expenses of $107,960, yielding $191,974 excess of revenues over direct expenses.
Unaudited H1 2024 (through June 30) revenue of $97,180, direct op expenses $56,592, excess $40,588.
Proved oil reserves of 1,169 MBbls and gas reserves of 2,489 MMcf at Dec 31, 2023; standardized measure of discounted future net cash flows $22.98M.

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 2,211,982 shares of the Common Stock (closed 2024-08-29).

Action: acquisition
Counterparty: Liberty Operating, LLC
Consideration: 2,211,982 shares of the Common Stock
Closing: 2024-08-29

Exact text from the filing

Assignment and Bill of Sale, entered into and executed by Barrister and Liberty on August 29, 2024 (the “Assignment”). The total consideration of the Acquired Assets consisted of 2,211,982 shares of the Common Stock issued to Liberty (as described in Item 3.02 of the Original Report), at the adjusted valuation of $2.00 per share (the “Shares”). The Acquisition has

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Source: SEC EDGAR

accession 0001753926-25-000083

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