Barrel Energy, Inc. announced a private placement of one convertible note for gross proceeds of $115,000 on February 5, 2021. The transaction includes participation from returning investor EROP Capital. The notes bear an interest rate of 8% per annum. The notes are convertible into common stock of the company at $0.10 per share or 70% of the lowest trade five days prior to conversion, with a maturity period of one year from date of issuance.