Alpha Energy, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 10, 2021 at 01:02 am IST
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Alpha Energy, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced operating loss was USD 212,961 compared to USD 142,747 a year ago. Net loss was USD 267,039 compared to USD 132,070 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the half year, operating loss was USD 382,133 compared to USD 274,630 a year ago. Net loss was USD 496,819 compared to USD 237,385 a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.02 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.