Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 0

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 0
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Overview

Okmin Resources, Inc. (collectively with its subsidiaries,
“Okmin” or the “Company”) was incorporated in Nevada in December 2020 to engage in the business of the acquisition,
exploration and development of oil and gas properties, mineral rights and other natural resource assets.

Okmin has been focused on the acquisition and development
of domestic oil and gas fields, investing in lower profile rework and recompletion opportunities with lower entry costs. The Company's
initial projects are located in Oklahoma and Kansas. 

The Company has two wholly owned subsidiaries that
conduct oil and gas activities, Okmin Operations, LLC, organized on May 25, 2021 in the State of Kansas, and Okmin Energy LLC, organized
on November 21, 2021 in the State of Oklahoma.

The Company has an interest in three separate projects:

    1)
    A 72.5% Net Revenue Interest in the Vitt oil lease located in Neosho County, Kansas

    2)
    A 10% overriding royalty interest in West Sheppard Pool, a natural gas project in Northeast Oklahoma

    3)
    A 95% Joint Venture interest in Pushmataha, a natural gas project in Southeast Oklahoma

Subsequent to the end of its fiscal year ended June
30, 2025, the Company disposed of its entire interest in the Blackrock JV for consideration of $25,000 cash and an additional 45% interest
in the Pushmataha joint venture. This transaction increased the Company’s interest in Pushmataha from 50% to 95%.

The Company has not conducted any reserve evaluations
or calculations, and there are currently no proven reserves on any of the Company’s properties.

Our business strategy is to enhance the value of our
acquired operated assets through evaluation of certain properties with the goal of increasing production. We plan to deploy capital in
a strategic manner and pursue value-enhancing transactions and expect to continuously evaluate strategic alternative opportunities that
we believe will enhance shareholder value.

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 other strategic corporate opportunities as they become available from time to time.

1 

For the 2026 fiscal year we anticipate cash needs
of approximately $270,000 for general corporate overhead and for operations on our existing lease properties. This amount does not include
funding for any