CoJax Oil and Gas Corporation reported its financial results for the third quarter of 2025, revealing a revenue of $212,868, a decrease of 15.1% from $250,619 in the same period of 2024. For the nine months ending September 30, 2025, the company generated $784,714 in revenue, reflecting a modest increase of 4.5% compared to $750,678 in the prior year. The decline in quarterly revenue was primarily attributed to a decrease in the average sale price of crude oil, while the year-to-date increase was driven by production from recently acquired assets in Liberty and Pine Grove.
Operating costs for the third quarter totaled $370,285, down from $399,804 in the previous year, with lease operating expenses rising by 30.3% to $143,715, largely due to the new assets. General and administrative expenses decreased significantly by 33.9% to $135,813, reflecting cost-cutting measures. Despite these reductions, the company reported a loss from operations of $157,417 for the quarter, slightly higher than the loss of $149,185 in the same quarter of 2024. For the nine-month period, the loss from operations improved to $505,557 from $526,811 year-over-year.
CoJax's total assets as of September 30, 2025, were $10,226,333, a decrease from $10,513,436 at the end of 2024. Current assets also fell to $203,518, down from $215,030, primarily due to a reduction in accounts receivable. The company’s liabilities decreased to $1,769,959 from $1,890,722, with current liabilities also declining. Stockholders' equity stood at $8,456,374, down from $8,622,714, reflecting an accumulated deficit that increased to $12,880,459.
Strategically, CoJax has focused on expanding its portfolio through acquisitions, having completed significant transactions in 2024 that contributed to its production capabilities. The company has not made any new acquisitions in 2025 but continues to evaluate potential opportunities. The management has expressed a commitment to maintaining low operating costs and achieving cash flow positivity while pursuing further growth in the Gulf States Drill Region.
Looking ahead, CoJax acknowledges the challenges posed by fluctuating oil prices and the need for additional capital to fund operations and growth initiatives. The company has begun to generate positive cash flows from operations but remains dependent on future equity issuances or financing to sustain its business plan. Management is actively pursuing funding opportunities to support ongoing operations and mitigate the risks associated with market volatility and operational uncertainties.
About CoJax Oil & Gas Corp
CoJax Oil and Gas Corporation is an early-stage exploration and development company focused on acquiring and exploiting oil and natural gas assets in the Gulf States Drill Region. It primarily targets light sweet crude oil and natural gas, leveraging operational efficiencies and strategic acquisitions. The company relies on contractor partnerships for drilling and production, aiming to generate sustainable cash flow and create shareholder value through low-risk, proven assets.
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