Business Description

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 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