Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 369

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 12
Chunk 369
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 production and excise taxes was $42,713 and $92,024 respectively. 

    F-11 
    OKMIN RESOURCES INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSJune 30, 2025 

    Schedule of production and revenue 

    Oil  
    Natural
    Gas  

    Project 
    Production (BBLS)  
    Avg.
                                            Cost ($)  
    Avg.
                                            Sales Price ($)  
    Production (MCF)  
    Avg.
                                            Cost ($)  
    Avg.
                                            Sales Price ($)  
    Total
                                            Revenue  ($) 

    Black Rock JV 
     328  
     56  
     61.83  
     —    
     0  
     —    
     20,294 

    Pushmataha 
     —    
     —    
     —    
     811  
     24  
     1.89  
     1,532 

    West Sheppard 
     —    
     —    
     —    
     —    
     —    
     —    
     —   

    Vitt Lease 
     5.44  
     55  
     65.17  
     —    
     —    
     —    
     354 

Subject to the Company being able to secure adequate
additional financing, Okmin may also acquire the rights to and participate in drilling and/or other mining operations. The Company will
evaluate exploration and mining opportunities and other strategic corporate opportunities as they become available from time to time.

There are no proven reserves of any classification in any of the projects
listed above.

7.        STOCKHOLDERS’ EQUITY

Preferred stock

The Company is authorized
to issue 50,000,000 shares of preferred stock with a par value of $0.0001 per share. As at June 30, 2025, the Company had a total of 5,000,000
shares of Series A preferred stock issued and outstanding. Each share of Series A Preferred Stock has voting rights of ten votes per share,
though is not entitled to receive dividends. Additionally, each share of Series A preferred shares may be converted at $0.01 per preferred
share into ten shares