Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 14

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 14
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business, financial condition, and results of operations.

We are not the operator of any of our properties
in which we have an interest, and therefore have limited control over activities on our properties, including the timing of exploration
or development efforts, associated costs, or the rate of production of these non-operated assets.

We are not the operator of our properties, and, as
a result, our ability to exercise influence over the operations of these properties or their associated costs is limited. Our dependence
on the operators and other working interest owners of these projects and our limited ability to influence operations and associated costs
or control the risks could materially and adversely affect the realization of our targeted returns on capital in operating or acquisition
activities. The success and timing of our development activities on properties operated by others therefore depends upon a number of factors,
including:

    ·
    the nature and timing of the operator’s operations, including drilling and other activities;

    ·
    the timing and amount of required capital expenditures;

    ·
    the operator’s geological and engineering expertise and financial resources;

    ·
    the approval of other participants in operational decisions; and

    ·
    the operator’s selection of suitable technology.

The fact that our industry partners serve as operator
makes it more difficult for us to predict future production, cash flows and liquidity needs. Our ability to grow our production often
depends on decisions by our partners.

9 

 The
development of oil and natural gas properties involves substantial risks that may result in a total loss of investment.

The business of exploring for, working over and developing
natural gas and oil properties involves a high degree of business and financial risk, and thus a significant risk of loss of initial investment
that even a combination of experience, knowledge and careful evaluation may not be able to overcome. The cost and timing of drilling,
workover completing and operating wells is often uncertain. Factors which can delay or prevent drilling or production, or otherwise impact
expected results, include but are not limited to:

    ·
    unexpected drilling conditions;

    ·
    inability to obtain required permits from governmental authorities;

    ·
    inability to obtain, or limitations on, easements from landowners;

    ·
    uncertainty regarding our operating partners’ drilling schedules;

    ·
    high pressure or irregularities in geologic formations;

    ·
    equipment failures;

    ·
    title problems;

    ·
    fires, explosions, blowouts, cratering, pollution, spills and other environmental risks or accidents