Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 1

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 1
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 potential workovers, re-entries, stimulation treatments and recompletions of existing non or low producing wells. Any
new work on our properties will require additional capital. Based on the Company’s cash position as of June 30, 2025, additional
financing will be required to meet its budgeted expenditures for fiscal 2026. Management intends to raise such additional funding through
debt financing or private sales of the Company’s securities, but no assurance can be given that such financing will be available
on acceptable terms or at all.

Activities with Operating Partners

We own working and royalty interests in oil and natural
gas prospects in varying stages of exploration and development. The operators of our projects are familiar with the geology and operating
components of each project. Although the operators have their own technical staff and consultants, consistent with industry practice with
smaller independent oil and natural gas companies, we utilize our own consultants, as needed.

Environmental Laws and Regulations

Environmental Matters

Our operations and properties are subject to extensive
and changing federal, state, and local laws and regulations relating to environmental protection, including the generation, storage, handling,
emission, transportation, and discharge of materials into the environment, and relating to safety and health. The recent trend in environmental
legislation and regulation generally is toward stricter standards, and this trend will likely continue. These laws and regulations may:

    ·
    Require the acquisition of a permit or other authorization before construction or drilling commences and for certain other activities;

    ·
    Limit or prohibit construction, drilling and other activities on certain lands lying within wilderness and other protected areas; and

    ·
    Impose substantial liabilities for pollution resulting from operations.

The permits required for our operations may be subject
to revocation, modification, and renewal by issuing authorities. Governmental authorities have the power to enforce their regulations,
and violations are subject to fines or injunctions, or both.

Research and Development

No research and development expenditures have been
incurred during the past two fiscal years.

Insurance

Our operators undertake to have general liability
and property insurance coverage in amounts deemed sufficient for the business operations. Our insurance coverage is limited, and there
is no guarantee that any insurance coverage would be sufficient to protect the value of our assets or to fully cover any losses sustained.
Payment of substantial liabilities in excess of coverage could require diversion of internal capital away from regular business, which
could result in the curtailment or suspension of our current and projected future operations.

Forward Plan

We