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Oil and Gas Properties
3 Months Ended
Mar. 31, 2017
Extractive Industries [Abstract]  
Oil and Gas Properties

2 Oil and Gas Properties

 

    March 31, 2017     December 31, 2016  
Unproven properties:                
Bulgaria   $ 3,042,040     $ 2,939,829  
Proven properties:                
PPE Turkey     3,288,356       -  
    $ 6,330,396     $ 2,939,829  

 

The Company holds a 98,205 acre oil and gas exploration claim in the Dobrudja Basin located in northeast Bulgaria. The Company intends to conduct exploration for natural gas and test production activities over a five year period in accordance with or exceeding its minimum work program obligation. The Company intends to commence its work program efforts once it receives all regular regulatory approvals of its work programs.