Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 91

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1A
Chunk 91
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. The price of crude oil has experienced significant volatility over recent years, with the
price of a barrel of oil dropping below $20 during the early part of 2020, due in part to reduced global demand stemming from the recent
global COVID-19 outbreak, and most recently surging over $125 a barrel in early March 2022 following Russia’s invasion of Ukraine,
before more recently trading around $60-$70 a barrel. Natural gas prices have recently traded between $2.35 and $4.50 per mcf. A prolonged
period of low market prices for oil and natural gas, or further declines in the market prices for oil and natural gas, will likely result
in capital expenditures being further curtailed and will adversely affect our business, financial condition and liquidity. Additionally,
lower oil and natural gas prices have, and may in the future, cause, a decline in our stock price.

As described above, oil and natural gas are commodities
and, therefore, their prices are subject to wide fluctuations in response to relatively minor changes in supply and demand. Historically,
the commodities market has been volatile. An extended period of continued lower oil prices, or additional price declines, will have further
adverse effects on us. The prices we receive for any future production and the prices received from operators of our non-operated production,
and the levels of such production, will continue to depend on numerous factors, including the following:

    ·
    the domestic and foreign supply of oil and natural gas;

    ·
    the domestic and foreign demand for oil and natural gas;

    ·
    the prices and availability of competitors’ supplies of oil and natural gas;

    ·
    the actions of the Organization of Petroleum Exporting Countries, or OPEC, and state-controlled oil companies relating to oil price and production controls;

    ·
    the price and quantity of foreign imports of oil and natural gas;

    ·
    the impact of U.S. dollar exchange rates on oil and natural gas prices and inflation;

8 

    ·
    domestic and foreign governmental regulations and taxes;

    ·
    speculative trading of oil and natural gas futures contracts;

    ·
    localized supply and demand fundamentals, including the availability, proximity, and capacity of gathering and transportation systems for natural gas;

    ·
    the availability of refining capacity;

    ·
    the prices and availability of alternative fuel sources;

    ·
    the threat, or perceived threat, or results, of viral pandemics, for example,