Executive Summary
Okmin Resources reported a disappointing QQ4 2023 quarter in USD terms, with negative revenue (-$11,387) that translated into a gross loss of -$22,717 and an operating loss of -$532,337. Net income for the quarter was -$548,400, and earnings per share (EPS) were -0.0048 for the class A figure and -0.0032 on a diluted basis. The quarter was characterized by a material drag from other expenses totaling $403,217 and general and administrative expenses of $106,403, driving a substantial operating loss despite a small revenue base. EBITDA stood at -$523,342, and the company carried interest expense of $16,647 and depreciation & amortization of $1,359. These results underscore a cash-burn dynamic in a capital-intensive, small-scale oil and gas operation with 7,459 gross acres and 82 wells located in Oklahoma and Kansas.
Key Performance Indicators
QoQ: -234.52% | YoY:-172.84%
QoQ: -37.01% | YoY:-5.08%
QoQ: -336.94% | YoY:-445.79%
QoQ: -352.75% | YoY:-462.25%
Key Insights
Revenue: USD -11,387; YoY change: -172.84%; QoQ change: -234.52%. Gross Profit: USD -22,717; YoY change: -5.08%; QoQ change: -37.01%. Operating Income: USD -532,337; YoY change: -445.79%; QoQ change: -336.94%. Net Income: USD -548,400; YoY change: -462.25%; QoQ change: -352.75%. EBITDA: USD -523,342; EBITDARatio: 45.96%. Earnings per Share (EPS): -0.0048; Diluted EPS: -0.0032. Weighted average shares outstanding: 114,103,180; Diluted shares outstanding: 170,985,347. Interest expense: USD 16,647;...
Financial Highlights
Revenue: USD -11,387; YoY change: -172.84%; QoQ change: -234.52%. Gross Profit: USD -22,717; YoY change: -5.08%; QoQ change: -37.01%. Operating Income: USD -532,337; YoY change: -445.79%; QoQ change: -336.94%. Net Income: USD -548,400; YoY change: -462.25%; QoQ change: -352.75%. EBITDA: USD -523,342; EBITDARatio: 45.96%. Earnings per Share (EPS): -0.0048; Diluted EPS: -0.0032. Weighted average shares outstanding: 114,103,180; Diluted shares outstanding: 170,985,347. Interest expense: USD 16,647; Depreciation & amortization: USD 1,359. The reported metrics reflect a distressed top-line, offset by non-cash and financing-related charges, creating a negative profitability trajectory. Readers should note that several margin metrics appear counterintuitive due to negative revenue and gross profit bases, which can distort standard interpretation.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
-11.39K |
-172.84% |
-234.52% |
| Gross Profit |
-22.72K |
-5.08% |
-37.01% |
| Operating Income |
-532.34K |
-445.79% |
-336.94% |
| Net Income |
-548.40K |
-462.25% |
-352.75% |
| EPS |
0.00 |
N/A |
-336.36% |
Management Commentary
No earnings call transcript provided for QQ4 2023 in the available data. As a result, management color, strategic emphasis, and qualitative commentary from the quarter could not be integrated into this synthesis. Investors should seek the official transcript or earnings call notes for direct quotes and management tone on production plans, capex, and liquidity considerations.
Forward Guidance
No explicit forward guidance was provided in the QQ4 2023 materials. Given the evident top-line weakness and negative profitability in Q4 and the lack of disclosed liquidity metrics, the near-term outlook hinges on external factors such as commodity price developments, production stabilization or growth from existing wells, and ongoing cost-control initiatives. In the absence of a stated target, achievability is highly contingent on a favorable macro environment for crude prices, potential operational efficiencies, and any strategic actions (e.g., asset monetization or financing) that could improve the balance sheet. Investors should monitor updates in subsequent filings or calls for any formal guidance on capex, production targets, hedging, or financing plans.