Okmin Resources Inc (OTC: OKMN) is an oil and gas exploration and production company that holds working interests in onshore oil and gas leases and participates in the drilling, reworking, and operation of wells. Revenue comes from the sale of crude oil and natural gas produced from its leased properties, a transactional model tied directly to commodity prices and production volumes. The company generated $22,180 in oil and gas sales for the fiscal year ended June 30, 2025, down from $42,543 for the fiscal year ended June 30, 2024, with the decline attributed to lower commodity prices and curtailed operations. Costs of revenues were $42,713 for FY2025 versus $92,024 for FY2024. Okmin operates with limited cash resources, relies on industry partners as well operators on some properties, and has issued common stock in lieu of cash to fund consulting, legal, and compensation expenses. The company's primary disclosed asset is the Vitt Lease, where it holds an 85.86% working interest across fifteen shallow wells drilled to the Bartlesville zone at approximately 525 feet depth, operated by Petron Oil and Gas LLC. As of the 10-K filed September 29, 2025, the Vitt Lease wells were not operating, pending additional maintenance work.

Revenue model

Transactional revenue from the sale of crude oil and natural gas produced from working interest properties. No subscription, royalty, or service revenue is disclosed in the filing excerpts.

Products and services

Crude oil and natural gas production from shallow onshore wells. The Vitt Lease includes nine oil and gas wells, two idle wells, and four injection wells drilled to the Bartlesville zone at approximately 525 feet depth, equipped with pump jacks (as described in the 10-K filed 2025-09-29).

Customers and end markets

Oil and gas commodity markets. No specific customers, customer concentration data, or end-market breakdowns are disclosed in the filing excerpts.

Value-chain role

Upstream oil and gas working interest owner. Okmin holds working interests in leases and participates in well reworking and production. Day-to-day operations on the Vitt Lease are handled by a third-party operator, Petron Oil and Gas LLC, making Okmin a non-operating or partially non-operating working interest holder on that property.

Geographic exposure

Onshore United States. The Vitt Lease is the primary disclosed property. No specific state location for the Vitt Lease is named in the filing excerpts, though the company is subject to federal, state, tribal, and local oil and gas regulations.

Source: SEC 10-K, filed 2025-09-29

Industry: Crude Petroleum & Natural Gas Peers: Camber Energy Inc ConocoPhillips Abundia Global Impact Group, Inc Marine Petroleum Trust Spindletop Oil and Gas Co