Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

16. Segment Information

During 2018 and 2017, the Company’s operations were in the resource industry in Bulgaria, and Turkey with head offices in the United States and a satellite office in Sofia, Bulgaria. The Company’s operating segments included, a head office in Canada, oil and gas operations in Turkey and oil and gas properties located in Bulgaria.

For the year ended December 31, 2018
	Bulgaria			North America			Turkey			Total
Revenue
Oil and gas sales	$	-		$	-		$	4,253,326		$	4,253,326
Cost and expenses
Production		-			-			2,802,080			2,802,080
Depletion		-			-			700,219			700,219
Depreciation		-			-			29,408			29,408
Accretion of asset retirement obligation		-			-			371,526			371,526
Stock-based compensation		-			337,227			-			337,227
General and administrative		(778	)		1,007,224			1,111,767			2,118,213
Total expenses		(778	)		1,344,451			5,015,000			6,358,673
Income (loss) before other income (expenses)		778			(1,344,451	)		(761,674	)		(2,105,347	)
Other income (expenses)
Interest expense		-			(61,196	)		-			(61,196	)
Interest income		-			-			27,267			27,267
Foreign exchange gain		-			13,655			42,581			56,236
Other gain (loss)		-			(30,000	)		289,930			259,930
Warrant modification expense		-			(474,668	)		-			(474,668	)
Loss on settlement of debt		-			(77,735	)		-			(77,735	)
Total other income (expense)		-			(629,944	)		359,778			(270,166	)
Net income (loss)	$	778		$	(1,974,395	)	$	(401,896	)	$	(2,375,513	)
Long-term assets		3,117,229			-			3,634,480			6,751,709

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
Stock based compensation		-			229,961			-			229,961
General and administrative		382			770,599			1,230,128			2,001,109
Total expenses		382			1,000,560			5,065,496			6,066,438
Loss before other income (expenses)		(382	)		(1,000,560	)		(1,182,437	)		(2,183,379	)
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	)
Warrant modification expense		-			(278,870	)		-			(278,870	)
Gain on bargain purchase option		-			15,695			-			15,695
Total other income (expense)		-			(353,193	)		49,736			(303,457	)
Net loss	$	(382	)	$	(1,353,753	)	$	(1,132,701	)	$	(2,486,836	)
Long-term assets		3,083,831			-			2,737,340			5,723,394