Truleum (TRLM) 10-Q 21 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 21, 2022
Document Information [Line Items]
Entity Central Index Key	0000855787
Entity Registrant Name	ALPHA ENERGY INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	000-55586
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	90-1020566
Entity Address, Address Line One	14143 Denver West Parkway, Suite 100
Entity Address, City or Town	Golden
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80401
City Area Code	800
Local Phone Number	819-0604
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,612,326

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 742,087	$ 217
Joint interest billing receivable	7,940	0
Prepaid assets and other current assets	75,000	23,750
Total current assets	825,027	23,967
Noncurrent assets:
Property and equipment, net	54,378	0
Oil and gas property, unproved, full cost	1,311,003	145,791
Total noncurrent assets	1,365,381	145,791
Total assets	2,190,408	169,758
Current liabilities:
Accounts payable and accrued expenses	186,421	270,250
Accounts payable and accrued expenses - related parties	203,484	228,668
Interest payable - related parties	83,817	77,563
Advances from related parties	0	628,550
Note payable - related party	0	65,000
Derivative liability	275,120	145,041
Convertible note payable	1,210,000	1,210,000
Total current liabilities	2,091,465	2,625,072
Asset retirement obligation	918	918
Total liabilities	3,265,839	2,783,218
Commitments and contingencies
Stockholders' deficit:
Preferred stock, 10,000,000 shares authorized:Series A convertible preferred stock, $0.001 par value, 2,000,000 shares authorized and 0 shares issued and outstanding	0	0
Common stock, $0.001 par value, 65,000,000 shares authorized and 21,612,326 and 18,824,106 shares issued and outstanding, respectively	21,612	18,824
Additional paid-in capital	5,479,066	2,739,634
Accumulated deficit	(6,576,109)	(5,371,918)
Total stockholders' deficit	(1,075,431)	(2,613,460)
Total liabilities and stockholders' deficit	2,190,408	169,758
Convertible Credit Line Payable, Related Party [Member]
Current liabilities:
Convertible note payable	132,623	0
Convertible credit line payable – related party, net of discount $11,100	0	157,228
Secured Senior Secured Convertible Note [Member]
Current liabilities:
Senior secured convertible notes payable, related party, net of discount of $146,504	$ 1,173,456	$ 0

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001
Preferred Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)	65,000,000	65,000,000
Common Stock, Shares, Issued (in shares)	21,612,326	18,824,106
Common Stock, Shares, Outstanding (in shares)	21,612,326	18,824,106
Series A Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized (in shares)	2,000,000	2,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Convertible Credit Line Payable, Related Party [Member]
Convertible debt, urrent unamortized discount	$ 5,705
Convertible debt, noncurrent unamortized discount		$ 11,100
Secured Senior Secured Convertible Note [Member]
Convertible debt, noncurrent unamortized discount	$ 146,504

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Oil and gas sales	$ 138,900	$ 2,369	$ 144,139	$ 2,369
Lease operating expenses	229,099	7,303	278,533	7,303
Gross loss	(90,199)	(4,934)	(134,394)	(4,934)
Operating expenses:
Professional services	100,775	22,793	310,468	70,355
Board of director fees	36,000	48,000	120,000	144,000
General and administrative	215,859	173,039	580,453	531,860
Gain on settlement of accounts payable	0	0	0	(120,250)
Total operating expenses	352,634	243,832	1,010,921	625,965
Loss from operations	(442,833)	(248,766)	(1,145,315)	(630,899)
Other income (expense):
Interest expense	(56,871)	(5,219)	(137,273)	(114,806)
Gain (loss) on change in fair value of derivative liabilities	66,186	(19,200)	78,397	(24,299)
Total other income (expense)	9,315	(24,419)	(58,876)	(139,105)
Net loss	$ (433,518)	$ (273,185)	$ (1,204,191)	$ (770,004)
Loss per share:
Basic (in dollars per share)	$ (0.02)	$ (0.01)	$ (0.06)	$ (0.04)
Diluted (in dollars per share)	$ (0.02)	$ (0.01)	$ (0.06)	$ (0.04)
Weighted average shares outstanding:
Basic (in shares)	19,900,856	18,377,318	19,184,342	18,292,604
Diluted (in shares)	20,303,176	18,377,318	19,586,662	18,292,604

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2020	18,145,428
Balance at Dec. 31, 2020	$ 18,145	$ 2,061,635	$ (4,301,180)	$ (2,221,400)
Stock-based compensation (in shares)	48,000
Stock-based compensation	$ 48	47,952	0	48,000
Net loss	$ 0	0	(229,780)	(229,780)
Stock issued for settlement of liabilities (in shares)	90,000
Stock issued for settlement of liabilities	$ 90	89,910	0	90,000
Balance (in shares) at Mar. 31, 2021	18,283,428
Balance at Mar. 31, 2021	$ 18,283	2,199,497	(4,530,960)	(2,313,180)
Balance (in shares) at Dec. 31, 2020	18,145,428
Balance at Dec. 31, 2020	$ 18,145	2,061,635	(4,301,180)	(2,221,400)
Net loss				(770,004)
Balance (in shares) at Sep. 30, 2021	18,414,428
Balance at Sep. 30, 2021	$ 18,414	2,330,366	(5,071,184)	(2,722,404)
Balance (in shares) at Mar. 31, 2021	18,283,428
Balance at Mar. 31, 2021	$ 18,283	2,199,497	(4,530,960)	(2,313,180)
Stock-based compensation (in shares)	63,000
Stock-based compensation	$ 63	62,937	0	63,000
Net loss	$ 0	0	(267,039)	(267,039)
Stock issued for cash (in shares)	5,000
Stock issued for cash	$ 5	4,995	0	5,000
Balance (in shares) at Jun. 30, 2021	18,351,428
Balance at Jun. 30, 2021	$ 18,351	2,267,429	(4,797,999)	(2,512,219)
Stock-based compensation (in shares)	63,000
Stock-based compensation	$ 63	62,937	0	63,000
Net loss	$ 0	0	(273,185)	(273,185)
Balance (in shares) at Sep. 30, 2021	18,414,428
Balance at Sep. 30, 2021	$ 18,414	2,330,366	(5,071,184)	(2,722,404)
Balance (in shares) at Dec. 31, 2021	18,824,106
Balance at Dec. 31, 2021	$ 18,824	2,739,634	(5,371,918)	(2,613,460)
Stock-based compensation (in shares)	0
Stock-based compensation	$ 0	63,000	0	63,000
Net loss	$ 0	0	(376,138)	(376,138)
Balance (in shares) at Mar. 31, 2022	18,824,106
Balance at Mar. 31, 2022	$ 18,824	2,802,634	(5,748,056)	(2,926,598)
Balance (in shares) at Dec. 31, 2021	18,824,106
Balance at Dec. 31, 2021	$ 18,824	2,739,634	(5,371,918)	(2,613,460)
Net loss				$ (1,204,191)
Stock issued for cash (in shares)				2,504,500
Balance (in shares) at Sep. 30, 2022	21,612,326
Balance at Sep. 30, 2022	$ 21,612	5,479,066	(6,576,109)	$ (1,075,431)
Balance (in shares) at Mar. 31, 2022	18,824,106
Balance at Mar. 31, 2022	$ 18,824	2,802,634	(5,748,056)	(2,926,598)
Stock-based compensation (in shares)	0
Stock-based compensation	$ 0	51,000	0	51,000
Net loss	$ 0	0	(394,535)	(394,535)
Balance (in shares) at Jun. 30, 2022	18,824,106
Balance at Jun. 30, 2022	$ 18,824	2,853,634	(6,142,591)	(3,270,133)
Stock-based compensation (in shares)	283,720
Stock-based compensation	$ 284	123,436	0	123,720
Net loss	$ 0	0	(433,518)	(433,518)
Stock issued for cash (in shares)	2,504,500
Stock issued for cash	$ 2,504	2,501,996	0	2,504,500
Balance (in shares) at Sep. 30, 2022	21,612,326
Balance at Sep. 30, 2022	$ 21,612	$ 5,479,066	$ (6,576,109)	$ (1,075,431)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (1,204,191)	$ (770,004)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	922	0
Stock-based compensation	237,720	174,000
Amortization of debt discount	67,368	4,215
(Gain) loss on change in fair value of derivative liabilities	(78,397)	24,299
Gain on settlement of accounts payable	0	(120,250)
Write off of option contract associated with oil and gas properties	0	85,500
Asset retirement obligation expense	0	56
Default interest added to note payable	0	50,000
Changes in operating assets and liabilities:
Accounts receivable	(7,940)	0
Prepaid expenses and other current assets	(51,250)	25,000
Accounts payable	(95,928)	152,778
Accounts payable-related party	(13,085)	60,351
Interest payable	22,427	32,757
Net cash used in operating activities	(1,122,354)	(281,298)
Cash flows from investing activities:
Cash paid for purchase of equipment	(55,300)	0
Acquisition of oil and gas property	(1,165,212)	0
Deposits for purchase of oil and gas properties	0	(60,000)
Net cash used in investing activities	(1,220,512)	(60,000)
Cash flows from financing activities:
Proceeds from advances, related parties	120,236	252,200
Repayment of related parties	(10,000)	0
Proceeds from convertible credit line payable - related party	0	20,000
Payments on convertible credit line payable - related party	(30,000)	0
Proceeds from note payable, related party	0	65,000
Proceeds from senior secured convertible notes payable, related party	500,000	0
Proceeds from the sale of common stock	2,504,500	5,000
Net cash provided by financing activities	3,084,736	342,200
Net change in cash and cash equivalents	741,870	902
Cash and cash equivalents, at beginning of period	217	0
Cash and cash equivalents, at end of period	742,087	902
Supplemental disclosures of cash flow information:
Cash paid for interest	23,596	27,834
Cash paid for income taxes	0	0
Supplemental disclosure of non-cash investing and financing activities:
Expenses paid on behalf of the Company by related party	0	17,760
Oil and gas payments made by related party on behalf of the Company	0	65,500
Stock issued for settlement of accounts payable	0	90,000
Debt discount on senior secured convertible notes payable - related party	208,476
Debt discount from derivative liability	0	15,362
Related Party Advances and Promissory Note Converted into 7.25% Note [Member]
Supplemental disclosure of non-cash investing and financing activities:
Advances and other liabilities converted to senior secured convertible notes payable, related party	$ 819,956	$ 0

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	NOTE 1 BASIS OF PRESENTATION The interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and should be read in conjunction with the audited consolidated financial statements and notes thereto for the years ended December 31, 2021 2020 10 4, 2022. three nine 30, 2022 not 31, 2021, 2020 Principles of Consolidation Our consolidated financial statements include our accounts and the accounts of our 100 Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that ( 1 2 3 Basic and Diluted Loss per share Net loss per share is provided in accordance with FASB ASC 260 10, three nine 30, 2022 2021 The reconciliation of basic and diluted loss per share is as follows: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Basic net loss $ (433,518 ) $ (273,185 ) $ (1,204,191 ) $ (770,004 ) Add back: (Gain) loss on change in fair value of derivative liabilities (66,186 ) 19,200 (78,397 ) 24,299 Add back: Convertible debt interest 24,121 - 56,596 - Diluted net loss $ (475,583 ) $ (253,985 ) $ (1,225,992 ) $ (745,705 ) Basic and dilutive shares: Weighted average basic shares outstanding 19,900,856 18,377,318 19,184,342 18,292,604 Shares issuable from convertible credit line payable 138,328 - 138,328 - Shares issuable from senior secured convertible notes payable 263,992 - 263,992 - Dilutive shares 20,303,176 18,377,318 19,586,662 18,292,604 Loss per share: Basic $ (0.02 ) $ (0.01 ) $ (0.06 ) $ (0.04 ) Diluted $ (0.02 ) $ (0.01 ) $ (0.06 ) $ (0.04 ) Fair Value of Financial Instruments The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three Level 1 Level 2 Level 3 The carrying amount of the Company’s financial instruments consisting of cash and cash equivalents, accounts payable, notes payable and convertible notes approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Reclassification Certain reclassifications may no Recently Issued Accounting Standards Not The Company has reviewed all recently issued, but not no

Note 2 - Going Concern

Note 2 - Going Concern	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	NOTE 2 GOING CONCERN The Company’s interim unaudited consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has minimal cash or other current assets and does not In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not

Note 3 - Oil and Gas Properties

Note 3 - Oil and Gas Properties	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Oil and Gas Properties [Text Block]	NOTE 3 OIL AND GAS PROPERTIES On June 30, 2020, 9, 2022, 1, 2022 one three The Company entered into a Letter of Intent with Chicorica, LLC on December 13, 2018 4, 2022. 1, 2022, 5, 2022. 1, 2022, 8, 2022 5, 2022. nine 30, 2022,

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 4 RELATED PARTY TRANSACTIONS Advances from Related Party The Company received advances from AEI Management, Inc., a Company owned by a significant shareholder, totaling $88,956 and $185,860 during the nine 30, 2022 2021 nine 30, 2022, 24, 2024. The Company received advances from Jay Leaver, President of the Company, totaling $31,280 and $149,600 during the nine 30, 2022 2021 nine 30, 2022, 24, 2024. As of September 30, 2022 31, 2021, Accounts Payable and Accrued Expenses - Related Parties As of September 30, 2022, As of December 31, 2021, Notes Payable - Related Party On December 3, 2020, three 31, 2021, 23, 2022, nine 30, 2022 23, 2025. 2022 25, 2022, 20 25, 2022 24, 2024, “7.25% 7

Note 5 - Common Stock

Note 5 - Common Stock	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 5 COMMON STOCK The Company is authorized to issue 75,000,000 shares of its capital stock, consisting of 10,000,000 shares of preferred stock, par value $0.001 per share, and 65,000,000 shares of common stock, par value $0.001 per share. The Company compensates each of its directors with 4,000 shares of common stock each month. During the nine 30, 2022, During the nine 30, 2022, nine 30, 2022. On September 2, 2022, six nine 30, 2022, 30, 2022, During the nine 30, 2022,

Note 6 - Convertible Credit Lin

Note 6 - Convertible Credit Line Payable and Senior Secured Convertible Notes Payable - Related Party	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Convertible Debt Disclosure [Text Block]	NOTE 6 CONVERTIBLE CREDIT LINE PAYABLE AND SENIOR SECURED CONVERTIBLE NOTES PAYABLE RELATED PARTY Convertible Credit Line Payable On June 1, 2021, 1, 2023. 815 470 50 no no no 8, 2021, nine 30, 2022, 30, 2022, 31, 2021, nine 30, 2022, 30, 2022 31, 2021 8 Senior Secured Convertible Notes Payable On February 25, 2022, two 4 one nine 30, 2022, 30, 2022, 30, 2022 8 On February 25, 2022, 20 25, 2024. one nine 30, 2022, 30, 2022, 30, 2022 8 As of September 30, 2022,

Note 7 - Derivative Liability

Note 7 - Derivative Liability	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Derivatives and Fair Value [Text Block]	NOTE 7 DERIVATIVE LIABILITY As discussed in Note 1 30, 2022 31 2021: Level 1 Level 2 Level 3 Fair Value at September 30, 2022 Liabilities: Derivative liability $ - $ - $ 275,120 $ 275,120 Level 1 Level 2 Level 3 Fair Value at December 31, 2021 Liabilities: Derivative liability $ - $ - $ 145,041 $ 145,041 Utilizing Level 3 nine 30, 2022 30, 2022 A summary of the activity of the derivative liability is shown below at September 30 2022: Balance at December 31, 2021 $ 145,041 Debt discount on senior secured notes payable 208,476 Gain on change in derivative fair value adjustment (78,397 ) Balance at September 30, 2022 $ 275,120

Note 8 - Subsequent Events

Note 8 - Subsequent Events	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 8 SUBSEQUENT EVENTS Subsequent to September 30, 2022, 18, 2022,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation Our consolidated financial statements include our accounts and the accounts of our 100
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that ( 1 2 3
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Loss per share Net loss per share is provided in accordance with FASB ASC 260 10, three nine 30, 2022 2021 The reconciliation of basic and diluted loss per share is as follows: Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Basic net loss $ (433,518 ) $ (273,185 ) $ (1,204,191 ) $ (770,004 ) Add back: (Gain) loss on change in fair value of derivative liabilities (66,186 ) 19,200 (78,397 ) 24,299 Add back: Convertible debt interest 24,121 - 56,596 - Diluted net loss $ (475,583 ) $ (253,985 ) $ (1,225,992 ) $ (745,705 ) Basic and dilutive shares: Weighted average basic shares outstanding 19,900,856 18,377,318 19,184,342 18,292,604 Shares issuable from convertible credit line payable 138,328 - 138,328 - Shares issuable from senior secured convertible notes payable 263,992 - 263,992 - Dilutive shares 20,303,176 18,377,318 19,586,662 18,292,604 Loss per share: Basic $ (0.02 ) $ (0.01 ) $ (0.06 ) $ (0.04 ) Diluted $ (0.02 ) $ (0.01 ) $ (0.06 ) $ (0.04 )
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three Level 1 Level 2 Level 3 The carrying amount of the Company’s financial instruments consisting of cash and cash equivalents, accounts payable, notes payable and convertible notes approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification Certain reclassifications may no
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards Not The Company has reviewed all recently issued, but not no

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Nine months ended September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Basic net loss $ (433,518 ) $ (273,185 ) $ (1,204,191 ) $ (770,004 ) Add back: (Gain) loss on change in fair value of derivative liabilities (66,186 ) 19,200 (78,397 ) 24,299 Add back: Convertible debt interest 24,121 - 56,596 - Diluted net loss $ (475,583 ) $ (253,985 ) $ (1,225,992 ) $ (745,705 ) Basic and dilutive shares: Weighted average basic shares outstanding 19,900,856 18,377,318 19,184,342 18,292,604 Shares issuable from convertible credit line payable 138,328 - 138,328 - Shares issuable from senior secured convertible notes payable 263,992 - 263,992 - Dilutive shares 20,303,176 18,377,318 19,586,662 18,292,604 Loss per share: Basic $ (0.02 ) $ (0.01 ) $ (0.06 ) $ (0.04 ) Diluted $ (0.02 ) $ (0.01 ) $ (0.06 ) $ (0.04 )

Note 7 - Derivative Liability (

Note 7 - Derivative Liability (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Fair Value at September 30, 2022 Liabilities: Derivative liability $ - $ - $ 275,120 $ 275,120 Level 1 Level 2 Level 3 Fair Value at December 31, 2021 Liabilities: Derivative liability $ - $ - $ 145,041 $ 145,041
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Balance at December 31, 2021 $ 145,041 Debt discount on senior secured notes payable 208,476 Gain on change in derivative fair value adjustment (78,397 ) Balance at September 30, 2022 $ 275,120

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Secured Senior Secured Convertible Note [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	263,992	0	263,992	0
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	168,328	168,328	168,328	168,328

Note 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation - Basic and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic net loss	$ (433,518)	$ (273,185)	$ (1,204,191)	$ (770,004)
Add back: (Gain) loss on change in fair value of derivative liabilities	(66,186)	19,200	(78,397)	24,299
Add back: Convertible debt interest	24,121	0	56,596	0
Diluted net loss	$ (475,583)	$ (253,985)	$ (1,225,992)	$ (745,705)
Weighted average basic shares outstanding (in shares)	19,900,856	18,377,318	19,184,342	18,292,604
Shares issuable from convertible credit line payable (in shares)	138,328	0	138,328	0
Shares issuable from senior secured convertible notes payable (in shares)	263,992	0	263,992	0
Dilutive shares (in shares)	20,303,176	18,377,318	19,586,662	18,292,604
Basic (in dollars per share)	$ (0.02)	$ (0.01)	$ (0.06)	$ (0.04)
Diluted (in dollars per share)	$ (0.02)	$ (0.01)	$ (0.06)	$ (0.04)

Note 3 - Oil and Gas Properti_2

Note 3 - Oil and Gas Properties (Details Textual)					9 Months Ended
	Aug. 05, 2022 USD ($)	Jul. 08, 2022 USD ($)	Apr. 01, 2022 USD ($)	Mar. 09, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Payments to Acquire Oil and Gas Property					$ 1,165,212	$ 0
Purchase and Sale Agreement [Member] | Progressive [Member]
Acquisition, Number of Well Bores				34
Payments to Acquire Oil and Gas Property				$ 726,298
Option Agreement, Acquire Oil and Gas Assets, Payment, Percentage of Net Revenue					3%
Additional Progressive Receivable				$ 350,000
Chicorica, LLC [Member]
Payments to Acquire Oil and Gas Property	$ 30,000	$ 35,000	$ 30,000
Business Combination, Extension Payments					$ 30,000

Note 4 - Related Party Transa_2

Note 4 - Related Party Transactions (Details Textual) - USD ($)			2 Months Ended	9 Months Ended
	Feb. 25, 2022	Dec. 03, 2020	Feb. 28, 2022	Sep. 30, 2022	Sep. 30, 2021	Feb. 23, 2022	Dec. 31, 2021
Repayments of Related Party Debt				$ 10,000	$ 0
Due to Related Parties, Total				0			$ 628,550
Accounts Payable, Related Parties				203,484			228,668
Proceeds from Related Party Debt				120,236	252,200
Secured Senior Secured Convertible Note [Member]
Debt Instrument, Face Amount	$ 5,000,000
Debt Instrument, Term (Year)	2 years
Interest Payable				8,878
Notes Payable, Total				1,173,456
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Debt Instrument, Convertible, Conversion Price (in dollars per share)	$ 5
Related Party Advances Converted into 7.25% Note [Member]
Debt Conversion, Original Debt, Amount	$ 413,206
Related Party Advances and Promissory Note Converted into 7.25% Note [Member]
Debt Conversion, Original Debt, Amount				819,956	0
AEI Management, Inc. [Member]
Cash and Noncash Proceeds from Related Party Debt				88,956	185,860
Repayments of Related Party Debt				10,000
AEI Management, Inc. [Member] | Related Party Advances Converted into 7.25% Note [Member]
Debt Conversion, Original Debt, Amount				413,206
President [Member]
Cash and Noncash Proceeds from Related Party Debt			$ 500,000	31,280	$ 149,600
Accounts Payable, Related Parties				203,484			203,484
President [Member] | Promissory Note [Member]
Debt Instrument, Face Amount		$ 65,000				$ 325,580
Debt Instrument, Term (Year)		3 years
Debt Instrument, Interest Rate During Period		5%
Interest Payable		$ 13,003				16,170
Notes Payable, Total						$ 406,750
Proceeds from Related Party Debt				110,235
President [Member] | Secured Senior Secured Convertible Note [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Debt Instrument, Convertible, Conversion Price (in dollars per share)	$ 5
President [Member] | Related Party Advances Converted into 7.25% Note [Member]
Debt Conversion, Original Debt, Amount	$ 500,000			$ 325,580
President [Member] | Related Party Promissory Note Converted into 7.25% Note [Member]
Debt Conversion, Original Debt, Amount	406,750
President [Member] | Related Party Advances and Promissory Note Converted into 7.25% Note [Member]
Debt Conversion, Converted Instrument, Amount	$ 906,750
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Chief Financial Officer [Member]
Accounts Payable, Related Parties							4,394
Vice President [Member]
Accounts Payable, Related Parties							10,000
Staley Engineering LLC [Member]
Accounts Payable, Related Parties							$ 5,790

Note 5 - Common Stock (Details

Note 5 - Common Stock (Details Textual) - USD ($)		9 Months Ended
	Sep. 02, 2022	Sep. 30, 2022	Dec. 31, 2021
Capital Stock, Shares Authorized (in shares)		75,000,000
Preferred Stock, Shares Authorized (in shares)		10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.001
Common Stock, Shares Authorized (in shares)		65,000,000	65,000,000
Stock Issued During Period, Shares, New Issues (in shares)		2,504,500
Kelloff Oil & Gas, LLC [Member]
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition, Total		$ 78,720
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture, Total (in shares)		78,720
Stock Issued During Period, Value, Issued for Services		$ 29,000
Stock Issued During Period, Shares, Issued for Services (in shares)		37,000
Consultant [Member]
Stock Issued During Period, Value, Issued for Services	$ 60,000
Stock Issued During Period, Shares, Issued for Services (in shares)		60,000
Share-Based Payment Arrangement, Expense		$ 10,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 50,000
Director [Member]
Stock Issued During Period, Shares Per Month Per Director (in shares)		4,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition, Total		$ 120,000
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture, Total (in shares)		108,000

Note 6 - Convertible Credit L_2

Note 6 - Convertible Credit Line Payable and Senior Secured Convertible Notes Payable - Related Party (Details Textual)			9 Months Ended
	Feb. 25, 2022 USD ($) $ / shares	Aug. 08, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Jun. 01, 2021 USD ($) $ / shares
Proceeds from Convertible Debt			$ 0	$ 20,000
Amortization of Debt Discount (Premium)			67,368	4,215
Related Party Advances Converted into 7.25% Note [Member]
Debt Conversion, Original Debt, Amount	$ 413,206
Related Party Advances Converted into 7.25% Note [Member] | President [Member]
Debt Conversion, Original Debt, Amount	500,000		325,580
Related Party Promissory Note Converted into 7.25% Note [Member] | President [Member]
Debt Conversion, Original Debt, Amount	$ 406,750
Related Party Advances and Promissory Note Converted into 7.25% Note [Member]
Debt Conversion, Original Debt, Amount			819,956	$ 0
Related Party Advances and Promissory Note Converted into 7.25% Note [Member] | President [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Debt Conversion, Converted Instrument, Amount	$ 906,750
Convertible Credit Line [Member]
Debt Instrument, Face Amount						$ 1,500,000
Debt Instrument, Interest Rate, Stated Percentage						7%
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares						$ 4
Proceeds from Convertible Debt		$ 20,000
Amortization of Debt Discount (Premium)			5,395
Debt Instrument, Unamortized Discount, Total			5,705		$ 11,100
Repayments of Long-Term Lines of Credit			30,000
Long-Term Line of Credit, Total			138,328		$ 138,328
Secured Senior Secured Convertible Note [Member]
Debt Instrument, Face Amount	$ 5,000,000
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares	$ 5
Amortization of Debt Discount (Premium)			19,401
Debt Instrument, Unamortized Discount, Total	$ 65,262		45,862
Debt Instrument, Convertible, Number of Equity Instruments	1,000,000
Debt Instrument, Term (Year)	2 years
Long-Term Debt, Gross			413,206
Notes Payable, Total			1,173,456
Interest Payable			8,878
Secured Senior Secured Convertible Note [Member] | President [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares	$ 5
Amortization of Debt Discount (Premium)			42,572
Debt Instrument, Unamortized Discount, Total	$ 143,214		100,642
Long-Term Debt, Gross			$ 906,754

Note 7 - Derivative Liability_2

Note 7 - Derivative Liability (Details Textual) - 9 months ended Sep. 30, 2022	USD ($)	Total
Unrealized Gain (Loss) on Derivatives	$ 78,397
Measurement Input, Discount Rate [Member] | Minimum [Member]
Embedded Derivative Liability, Measurement Input	1	0.0392
Measurement Input, Exercise Price [Member] | Maximum [Member]
Embedded Derivative Liability, Measurement Input	5	0.0405
Measurement Input, Price Volatility [Member] | Minimum [Member]
Embedded Derivative Liability, Measurement Input		1.80
Measurement Input, Price Volatility [Member] | Maximum [Member]
Embedded Derivative Liability, Measurement Input		2.61

Note 7 - Derivative Liability -

Note 7 - Derivative Liability - Liabilities Measured at Fair Value (Details) - Fair Value, Recurring [Member] - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Derivative liability	$ 275,120	$ 145,041
Fair Value, Inputs, Level 1 [Member]
Derivative liability	0	0
Fair Value, Inputs, Level 2 [Member]
Derivative liability	0	0
Fair Value, Inputs, Level 3 [Member]
Derivative liability	$ 275,120	$ 145,041

Note 7 - Derivative Liability_3

Note 7 - Derivative Liability - Schedule of Derivative Liability Activity (Details) - Derivative Financial Instruments, Liabilities [Member]	9 Months Ended
	Sep. 30, 2022 USD ($)
Derivative balance	$ 145,041
Debt discount on senior secured notes payable	208,476
Gain on change in derivative fair value adjustment	(78,397)
Derivative balance	$ 275,120

Note 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details Textual) - USD ($)		9 Months Ended
	Oct. 01, 2022	Sep. 30, 2022	Dec. 31, 2021
Interest Payable, Current		$ 83,817	$ 77,563
Convertible Credit Line [Member]
Repayments of Long-Term Lines of Credit		$ 30,000
Subsequent Event [Member] | Convertible Credit Line [Member]
Repayments of Long-Term Lines of Credit	$ 138,328
Interest Payable, Current	$ 52,038