Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 2

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 2
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 have primarily engaged in oil and natural gas exploration
and production by participating, on a proportionate basis, alongside third-party interests in wells drilled and completed in spacing units
that include our acreage.

During the fiscal year ending June 30, 2026, our activities
will be focused on development and production of our oil and gas interests with our joint interest operators.

In fiscal 2026 and beyond, we intend to seek additional
growth opportunities including but not limited to the oil and gas and the natural resources sectors. This may include further acquisition
of assets, participation with current and new industry partners in their exploration and development projects, and the acquisition of
interests in existing companies.

Business Strategy

Key elements of our business strategy include:

    ·
    Deploy capital in a strategic manner and review opportunities to raise additional funds to maintain liquidity. We will be highly selective in the projects we evaluate and will review opportunities to improve our financial position through various means. 

    ·
    Evaluate and Pursue Value-Enhancing Transactions. We will continuously evaluate strategic opportunities that we believe will enhance shareholder value.

2 

Industry Operating Environment

The oil and natural gas industry is affected by many
factors that we generally cannot control. Government regulations, particularly in the areas of taxation, energy, climate change and the
environment, can have a significant impact on operations and profitability. Significant factors that will impact oil prices in the current
fiscal year and future periods include the Russian war with Ukraine, war and ongoing political tensions in the Middle East, inflation,
demand in Asian and European markets, and the extent to which members of the Organization of the Petroleum Exporting Countries (“OPEC”)
and other oil exporting nations manage oil supply through export quotas. Natural gas prices are generally determined by North American
supply and demand and are also affected by imports and exports of liquefied natural gas. Weather also has a significant impact on demand
for natural gas since natural gas is a primary heating source.

In early March 2020, there was an outbreak of a novel
strain of coronavirus, which causes the infectious disease known as COVID-19, which resulted in a drastic decline in global demand of
certain mineral and energy products including crude oil. As a result of the lower demand caused by the COVID-19 pandemic and the oversupply
of crude oil, spot and future prices of crude oil fell to historic lows during the second quarter of 2020, which remained depressed for
the majority of 2020. Lower oil and