Note 6 - Related Party Transactions

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE

6

- RELATED PARTY TRANSACTIONS

The Company received advances from related parties totaling

$161,000

and

$0

and repaid

$856

and

$53,375

during the years ended

December 31, 2020

and

2019,

respectively. The advances from related parties are

not

convertible, bear

no

interest and are due on demand. As of

December 31, 2020

and

2019,

there was

$181,000

and

$397

due to related parties, respectively. During the year ended

December 31, 2020,

a related party paid

$13,959

of expenses on behalf of the Company and

$10,000

for unpaid oil and gas assets acquired. During the years ended

December 31, 2019,

a related party paid

$42,206

of expenses on behalf of the Company. The Chief Financial Officer allows the use of his residence as an office for the Company at

no

charge.