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Segment Information (Tables)
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Schedule of Financial Information for Geographical Segments

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