Note 3 - Oil and Gas Property

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Oil and Gas Properties [Text Block]

NOTE

3

– OIL AND GAS PROPERTY

The Company entered into a Letter of Intent with Chicorica, LLC on

December 13, 2018

and extended the agreement effective

January 4, 2021.

The Company entered into an escrow agreement for

$50,000

with Premier Gas Company, LLC on

April 30, 2019.

The escrow payment was to hold a purchase and sale agreement dated

January 29, 2019.

The agreement was

not

completed and the previously capitalized payment was impaired in

June 2019.

Oil and gas properties at

December 31, 2019

and

2018

consisted of the following:

	Balance						Balance
Account	12/31/2018		Additions		Impairment		12/31/2019
Leasehold Improvements - Chicorica, LLC	$	10,000	$	-	$	-	$	10,000
Leasehold Developed - Premier Gas Company, LLC		-		50,000		50,000		-
Total O&G related assets	$	10,000	$	50,000	$	50,000	$	10,000