Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 268

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 268
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 ended June 30, 2024 - $401,858) was recorded as an
expense.

6.        REVENUES
AND COST OF REVENUES 

For the year ended June 30, 2025, the Company had
production revenue of $22,180 compared to revenue of $42,543 for the year ended June 30, 2024. Refer to the table below of production
and revenue through June 30, 2025. For the years ended June 30, 2025 and June 30, 2024 our cost of revenue, consisting of lease operating
expenses and 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