On January 10, 2024, Mr. Jeffrey J. Guzy resigned from Chief Executive Officer. The Board of CoJax Oil and Gas Corporation appointed William R. Downs as Chief 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.