OKMIN RESOURCES Completes Asset Acquisition/Disposition
Ticker: OKMN · Form: 8-K · Filed: Nov 18, 2024 · CIK: 1848334
| Field | Detail |
|---|---|
| Company | Okmin Resources, INC. (OKMN) |
| Form Type | 8-K |
| Filed Date | Nov 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $22,850, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, disposition, oil-and-gas
TL;DR
OKMIN RESOURCES just filed an 8-K for an asset deal - big changes coming.
AI Summary
On November 18, 2024, OKMIN RESOURCES, INC. filed an 8-K report detailing the completion of an acquisition or disposition of assets. The filing also includes financial statements and exhibits related to this event. The company, incorporated in Nevada, is involved in the crude petroleum and natural gas industry.
Why It Matters
This filing indicates a significant change in OKMIN RESOURCES' asset base, which could impact its future operations and financial performance in the oil and gas sector.
Risk Assessment
Risk Level: medium — Acquisitions and dispositions of assets can introduce significant financial and operational risks, depending on the nature and scale of the transaction.
Key Players & Entities
- OKMIN RESOURCES, INC. (company) — Registrant
- November 18, 2024 (date) — Date of earliest event reported
- 000-56381 (other) — Commission File Number
- Nevada (jurisdiction) — State of incorporation
- 85-4401166 (other) — I.R.S. Employer Identification No.
- 16501 Ventura Boulevard , Suite 400 , Encino , CA 91436 (address) — Principal executive offices
- 818-201-3727 (phone_number) — Registrant's telephone number
FAQ
What specific assets were acquired or disposed of by OKMIN RESOURCES, INC.?
The filing indicates the completion of an acquisition or disposition of assets, but the specific details of the assets involved are not provided in the provided text.
What is the financial impact of this asset transaction on OKMIN RESOURCES, INC.?
The filing mentions financial statements and exhibits are included, but the specific financial impact of the transaction is not detailed in the provided text.
When did the asset acquisition or disposition officially close?
The earliest event reported is November 18, 2024, which is also the date of the report and the date as of change.
What is the primary business of OKMIN RESOURCES, INC.?
OKMIN RESOURCES, INC. is involved in Crude Petroleum & Natural Gas, with SIC code 1311.
Where is OKMIN RESOURCES, INC. headquartered?
The company's principal executive offices are located at 16501 Ventura Boulevard, Suite 400, Encino, CA 91436.
Filing Stats: 467 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-11-18 14:54:17
Key Financial Figures
- $22,850 — er Sheppard Pool Operating has received $22,850 in revenue from the project, the Compan
- $100,000 — 10% ORRI to 5% by a one-time payment of $100,000 to the Company within 4 years of the ef
Filing Documents
- okmin_8k.htm (8-K) — 24KB
- ex99x1.htm (EX-99.1) — 10KB
- 0001079973-24-001563.txt ( ) — 205KB
- okmn-20241118.xsd (EX-101.SCH) — 3KB
- okmn-20241118_lab.xml (EX-101.LAB) — 33KB
- okmn-20241118_pre.xml (EX-101.PRE) — 24KB
- okmin_8k_htm.xml (XML) — 3KB
01 Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets. The Company has assigned its 50% interest in the West Sheppard Pool project to Sheppard Pool Operating, LLC, the operator of the project. After Sheppard Pool Operating has received $22,850 in revenue from the project, the Company will receive a 10% overriding royalty interest ("ORRI") in the project. Sheppard Pool may elect to reduce the 10% ORRI to 5% by a one-time payment of $100,000 to the Company within 4 years of the effective date of the agreement. Item. 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description of Exhibit 99.1 News Release dated November 18, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Okmin Resources Inc. Dated: November 18, 2024 By: /s/ Jonathan Herzog Jonathan Herzog Chief Executive Officer