Effective as of January 10, 2024, Wm. Barrett Wellman resigned from his positions as Secretary of CoJax Oil and Gas Corporation, a Virginia corporation (the ?Company?). As a result of Mr. Wellman?s resignation as the Company?s Chief Financial Officer, he relinquished his role as the Company?s ?Principal Financial and Accounting Officer?

for Securities and Exchange Commission (?SEC?) reporting purposes. In connection with his resignation, on January 10, 2024, the employment agreement between the Company and Mr. Wellman, dated March 20, 2023, as amended, was terminated. On January 10, 2024, Mr. Guzy resigned from President and Chairman of the Board positions.

As a result of Mr. Guzy?s resignation as the Company?s Chief Executive Officer, he relinquished his role as the Company?s ?Principal Executive Officer? for SEC reporting purposes. Effective immediately upon Mr. Wellman?s resignation, the board of directors of the Company (the ?Board?) appointed Jeffrey J. Guzy as the Company?s Secretary and Treasurer.

In addition, for SEC reporting purposes, Mr. Guzy was designated as the Company?s ?Principal Financial and Accounting Officer.? In addition to serving as Chief Financial Officer, Secretary and Treasurer upon this appointment to these offices, Mr. Guzy will continue serving as a member of the Board. On January 10, 2024, the Board increased its size from two directors to three directors pursuant to the Bylaws of the Company and appointed William R. Downs to fill this new directorship, effective immediately.

In addition, effective immediately upon Mr. Guzy?s resignation from positions as Chairman of the Board and President, the Board appointed William R. Downs as Chief Executive Officer, President, and Chairman. In addition, for SEC reporting purposes, Mr. Downs was designated as the Company?s ?Principal Executive Officer.? William R. Downs, age 64, has more than 42 years of experience in Oil and Gas Industry, specifically in generating, evaluating and managing oil and gas exploration, development and acquisition projects of private independent and public companies in the area of North and South Louisiana, East Texas, South Arkansas, Mississippi, Oklahoma, Alabama and Montana.

He also owned and managed several oilfield service companies. Prior to joining CoJax, between February 2022 and October 2023, Mr. Downs served as Executive Vice President and Chief Operating Officer of Topcat Companies, an oilfield service company, where he was responsible for the management of the workover rigs, saltwater transportation and disposal, drilling fluids disposal, financial and safety oversight, oversight of individual vice presidents and their team management. Between August 2020 and October 2023, Mr. Downs served as Executive Vice President and Chief Operating Officer of Topcat Waste Management Facility and was responsible for managing of the drilling fluids and solids waste disposal site in Waskom, Texas, saltwater disposal and transportation and workover rigs.

Mr. Downs is a Certified Petroleum Geologist, a member of American Association of Petroleum Geologists; a former Convention Chairman and President of the GCAGS and a member of Division of Professional Affairs. Mr. Downs earned his Bachelor of Science in Geology in 1981 from Centenary College of Louisiana.