Alpha Energy, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 19, 2021 at 02:39 am IST
Share
Alpha Energy, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced operating loss was USD 169,172 compared to USD 131,883 a year ago. Net loss was USD 229,780 compared to USD 105,315 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
Truleum, Inc. is an independent oil and natural gas producer. The Company is principally seeking to restart, rework and/or recomplete production from historic working interest/net revenue interest sites developed by others who have discontinued their operations due to economic conditions or costs. Its focus of operation is in the Mid-Continent and Rocky Mountain regions. It operates the Logan Project. Its acquired leases comprise approximately 2,080 gross acres of developed and undeveloped proven production in the Cherokee Uplift in central Oklahoma, including 34 well bores. In addition, the Logan Project contains additional probable reserves (all non-producing or undeveloped) of 4,645,290 mcf of gas and 1,429,780 barrels of oil. The Company sells oil and natural gas on the spot market.