XML 45 R34.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Schedule of Financial Information for Geographical Segments

For the year ended December 31, 2017

    Bulgaria     North America     Turkey     Total  
Revenue                                
Oil and gas sales   $ -     $ -     $ 3,883,059     $ 3,883,059  
                                 
Cost and expenses                                
Production     -       -       2,814,672       2,814,672  
Depletion     -       -       774,547       774,547  
Depreciation     -       -       21,390       21,390  
Accretion of asset retirement obligation     -       -       224,759       224,759  
General and administrative     382       1,279,430       1,230,128       2,509,940  
Total expenses   $ 382     $ 1,279,430     $ 5,065,496     $ 6,345,308  
                                 
Loss before other income (expenses)   $ (382 )   $ (1,279,430 )   $ (1,182,437 )   $ (2,462,249 )
Other income (expenses)                                
Interest expense     -       (84,208 )     8,182       (76,026 )
Foreign exchange loss     -       5,957       (21,469 )     (15,512 )
Other gain     -       -       63,023       63,023  
Taxes     -       (11,767 )     -       (11,767 )
Gain on bargain purchase option     -       15,695       -       15,695  
Total other income (expense)   $ -     $ (74,323 )   $ 49,736     $ (24,587 )
                                 
Net loss   $ (382 )   $ (1,353,753 )   $ (1,132,701 )   $ (2,486,836 )
                                 
Long Lived Assets     -       -       2,737,340       2,737,340