Segment Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Information

16. Segment Information

During 2019 and 2018, 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 operated a few segments, a head office in Canada, an oil and natural gas operations in Turkey and its oil and natural gas properties are located in Bulgaria.

As at and for the period ended September 30, 2019
	Bulgaria			North America			Turkey			Total
Revenue
Oil and natural gas sales	$	-		$	-		$	2,939,263		$	2,939,263
Cost and expenses
Production		-			-			1,970,397			1,970,397
Depletion		-			-			468,373			468,373
Depreciation		-			-			31,425			31,425
Accretion of asset retirement obligation		-			-			309,572			309,572
Stock-based compensation		-			437,725			-			437,725
General and administrative		1,298			575,122			730,096			1,306,516
Total (recovery) expenses	$	1,298		$	1,012,847		$	3,509,863		$	4,524,008
Income (loss) before other income (expenses)	$	(1,298	)	$	(1,012,847	)	$	(570,600	)	$	(1,584,745	)
Other income (expenses)
Interest income		-			-			23,253			23,253
Interest expense		-			(28,858	)		(3,794	)		(32,652	)
Foreign exchange gain (loss)		-			2,067			(17,308	)		(15,241	)
Other expense		-			-			69,843			69,843
Total other income (expense)	$	-		$	(26,791	)	$	71,994		$	45,203
Net Income (loss)	$	(1,298	)	$	(1,039,638	)	$	(498,606	)	$	(1,539,542	)
Long Lived Assets	$	3,114,179		$	-		$	3,227,316		$	6,341,495

For the period ended September 30, 2018
	Bulgaria			North America			Turkey			Total
Revenue
Oil and natural gas sales	$	-		$	-		$	3,361,667		$	3,361,667
Cost and expenses
Production		-			-			2,170,246			2,170,246
Depletion		-			-			534,381			534,381
Depreciation		-			-			20,789			20,789
Accretion of asset retirement obligation		-			-			273,328			273,328
General and administrative		1,574			687,777			861,840			1,551,191
Total (recovery) expenses	$	1,574		$	687,777		$	3,860,584		$	4,549,935
Income (loss) before other income (expenses)	$	(1,574	)	$	(687,777	)	$	(498,917	)	$	(1,188,268	)
Other income (expenses)
Interest income		-			-			9,461			9,461
Interest expense		-			(51,291	)		-			(51,291	)
Foreign exchange gain (loss)		-			4,600			62,110			66,710
Other income		-			(30,000	)		350,617			320,617
Loss on debt settlement		-			(102,500	)		-			(102,500	)
Total other income (expense)	$	-		$	(179,191	)	$	422,188		$	242,997
Net Income (loss)	$	(1,574	)	$	(866,968	)	$	(76,729	)	$	(945,271	)
Long Lived Assets, December 31, 2018	$	3,117,229		$	-		$	3,809,129		$	6,926,358