RELATED PARTY TRANSACTIONS	3 Months Ended
Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS In April 2021, U.S. Oil & Gas Royalty Trust, LLC assigned the judgement receivable to the Company in exchange for no consideration. The receivable has a full allowance recognized, based on management’s estimate of the low likelihood of collection. In May 2021, Joachim Haas, the chairman of the Board of Directors of the Company, assigned to the Company his 10% overriding royalty interest in certain wells in which the Company holds existing royalty and working interests for no consideration. In July 2021, the Company entered into a note payable with U.S Oil & Gas Royalty Trust whereby the Company received $50,000 of cash proceeds. The note is due on demand and bears interest at 7.5% per annum beginning September 1, 2021. As of September 30, 2022 and December 31, 2021 the accrued interest on the note is $4,048 and $1,243, receptively. On April 18, 2022, the Company received a related party loan from Joachim Haas for a total of $23,000. The loan bears interest at 1% per annum commencing on September 1, 2022, is unsecured, and due on demand. During the nine months ended September 30, 2022, the Company incurred consulting fees from the Company’s former CEO of $23,000. As of September 30, 2022 and December 31, 2021, the Company owed $94,261 and $70,000, respectively, to the former CEO. During the nine months ended, the Company’s CFO charged the Company a total of $31,655 for consulting services rendered and related expenses. A total of $7,677 of outstanding payables were paid by the CFO and a shareholder on behalf of the Company. As of September 30, 2022, the Company owes $9,000 to its current CEO and Chairman, Joachim Haas, $41,461 to its CFO, Achim Weber, and $4,181 to a shareholder. These balances are included in Accounts Payable, related parties on the Company’s balance sheet.

RELATED PARTY TRANSACTIONS

3 Months Ended

Sep. 30, 2022

NOTE 4 – RELATED PARTY TRANSACTIONS

In April 2021, U.S. Oil & Gas Royalty Trust, LLC assigned the judgement receivable to the Company in exchange for no consideration. The receivable has a full allowance recognized, based on management’s estimate of the low likelihood of collection.

In May 2021, Joachim Haas, the chairman of the Board of Directors of the Company, assigned to the Company his 10% overriding royalty interest in certain wells in which the Company holds existing royalty and working interests for no consideration.

In July 2021, the Company entered into a note payable with U.S Oil & Gas Royalty Trust whereby the Company received $50,000 of cash proceeds. The note is due on demand and bears interest at 7.5% per annum beginning September 1, 2021. As of September 30, 2022 and December 31, 2021 the accrued interest on the note is $4,048 and $1,243, receptively.

On April 18, 2022, the Company received a related party loan from Joachim Haas for a total of $23,000. The loan bears interest at 1% per annum commencing on September 1, 2022, is unsecured, and due on demand.

During the nine months ended September 30, 2022, the Company incurred consulting fees from the Company’s former CEO of $23,000. As of September 30, 2022 and December 31, 2021, the Company owed $94,261 and $70,000, respectively, to the former CEO. During the nine months ended, the Company’s CFO charged the Company a total of $31,655 for consulting services rendered and related expenses. A total of $7,677 of outstanding payables were paid by the CFO and a shareholder on behalf of the Company. As of September 30, 2022, the Company owes $9,000 to its current CEO and Chairman, Joachim Haas, $41,461 to its CFO, Achim Weber, and $4,181 to a shareholder. These balances are included in Accounts Payable, related parties on the Company’s balance sheet.

EnergieInvesting.com Inc. 10-Q