Management Change/Compensation Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Retirement of Director Thomas Lapinski

Thomas Lapinski has notified the Company of his intention to retire as a Director and Chairman of the Company, effective as of July 31, 2024. Mr. Lapinski is resigning for personal reasons. He has been involved in the oil and gas sector for almost 60 years and brought his wealth of experience to the Company. The Company is most thankful to Mr. Lapinski for his years of service and contribution to Okmin and wishes him the very best as he dedicates more time to his family. The Company has accepted his offer to remain as an advisor and consultant to the Company, details of which will be worked out in due course.

Appointment of Shmuel Naparstek as a Director

On July 24, 2024, the Board appointed Shmuel "Samuel" J. Naparstek to serve on the Board, effective as of July 31, 2024 to fill the vacancy that will result from Mr. Lapinski's retirement.

Shmuel Naparstek has built a global network of investors, innovators and philanthropists, and has served as a Corporate Consultant to Okmin Resources, Inc since January 2021. Since 2002, Mr. Naparstek has been engaged in various consulting roles with private and public companies. Mr. Naparstek has been a board member of Perfectomundo Inc. since September 2018, and has been instrumental in building and growing a variety of their new tequila brands in the marketplace. Prior to 2002, Mr. Naparstek was a principal executive of a network of non-profit organizations focused on religious, educational and social service activities. He continues to be actively sought out as an advisor to organizations and charitable foundations on the West Coast.

There is no arrangement or understanding between Mr. Naparstek and any other persons pursuant to which Mr. Naparstek was selected as a director. There are no transactions involving Mr. Naparstek requiring disclosure under Item 404(a) of Regulation S-K.