CoJax Oil & Gas Corp reported second-quarter 2026 results with revenue rising to $329K and a small net profit of $2614 a turnaround from a year-ago loss, while diluted earnings per share were $0 for the quarter.
Financial Highlights
- Revenue was $329,386 for Q2 2026, up from $233,624 in the year-ago quarter; YoY change 41.0%.
- Net income was $2,614 for Q2 2026, versus a net loss of $(204,061) in the year-ago quarter (turnaround YoY).
- Diluted EPS was $0.00 for Q2 2026 (basic and diluted), compared with $(0.01) in Q2 2025.
Business Highlights
- Revenue growth: Q2 revenue rose 41% year-over-year to $329K, driven by higher realized oil prices despite asset dispositions.
- Production & volumes: Q2 oil production fell to 2,974 bbls (versus 3,994 in the prior-year quarter); six‑month volumes were down due to well downtime and workovers.
- Cost trends: Lease operating and G&A expenses declined materially year-over-year, helping lower operating losses for the period.
- Operational milestone: Buckley workovers were successfully capitalized to extend asset life and support higher short-term production.
- Outlook & risks: Company remains focused on Gulf States acquisitions and development; commodity price volatility and regulatory risks are noted.
Original SEC Filing: CoJax Oil & Gas Corp [ CJAX ] – 10-Q – Aug. 12, 2026
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