CONSOLIDATED CASH FLOW STATEMENT (USD $)	6 Months Ended		121 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
OPERATING ACTIVITIES
Net income/(loss)	$ (330,198)	$ (11,106,637)	$ (67,443,303)
To reconcile net income/(loss) to net cash used in operating activities
Gain from sale of subsidiary	0	0	(57,850,918)
Gain from sale of investment	0	0	(3,864,197)
Loss from sale of investment	0	0	3,508,297
Gain from divestiture of discontinued operations	0	0	(72,000)
Change in fair value of investment in associate	(2,686,428)	7,487,735	14,881,681
Equity in net loss of associate	0	0	262,828
Depreciation	24,270	25,788	410,068
Amortization of debt issuance costs	0	0	349,910
Warrant issuance expense / (income)	0	0	19,880,864
Exchange differences	45,258	35,722	(62,903)
Non cash adjustment to exploration costs	0	0	(204,753)
Non cash interest income	0	0	(25,619)
Interest expense on contingently convertible loan	0	0	236,798
Loss on extinguishment of contingently convertible loan	0	0	83,202
Interest expense on debentures	0	0	764,142
Loss on extinguishment of debentures	0	0	33,847
Stock-based compensation	42,294	499,573	28,075,470
Decrease / (increase) in receivables and prepaid expenses	(258,607)	78,729	(590,263)
(Decrease) / increase in accounts payables	244,921	434,015	183,288
(Decrease) / increase in accrued expenses	(207,135)	80,554	51,491
Change in pension liability	0	0	142,271
Cash flow (used in) / from operating activities	(3,125,625)	(2,464,521)	(61,249,799)
INVESTING ACTIVITIES
Transaction prepayment	0	0	(10,111,656)
Capitalized exploration expenditure	(281,506)	0	(742,361)
Purchase of tangible fixed assets and computer software	(10,690)	(37,900)	(648,353)
Sale of tangible fixed assets and computer software	0	0	100,813
Proceeds from sale of investment	7,570,842	0	40,179,792
Decrease / (increase) restricted cash	(56,639)	4,075	(103,377)
Acquisition of investment in associate	0	0	(67,747)
Cash flow (used in) / from investing activities	7,222,007	(33,825)	28,607,111
FINANCING ACTIVITIES
Contribution share capital founders	0	0	80,019
Issuance of units	0	0	37,282,734
Issuance of contingently convertible loan	0	0	1,680,000
Issuance of debentures	0	0	3,760,000
Issuance of promissory notes to shareholders	0	0	540,646
Repurchase on Shares	(102,242)	0	(102,242)
Repayment of contingently convertible loan	0	0	(2,000,000)
Repayment of debentures	0	0	(4,000,000)
Repayment of promissory notes to shareholders	0	0	(540,646)
Proceeds from exercise of options	0	0	240,062
Issuance of warrants	0	0	670,571
Proceeds from exercise of warrants	0	0	2,260,959
Cash arising on recapitalization	0	0	6,510
Shareholder loan repaid	0	0	(3,385,832)
Shareholder loan raised	0	0	4,653,720
Repayment of bank loan	0	0	(2,520,000)
Increase in bank loan	0	0	2,520,000
Increase in short-term loan	0	0	917,698
Payment of unit issuance costs	0	0	(2,348,250)
Payment of debt issuance costs	0	0	(279,910)
Increase / (decrease) in refundable deposits	1,648	(130,354)	1,648
Cash flow (used in) / from financing activities	(100,594)	(130,354)	39,437,687
Net change in cash and cash equivalents	3,995,788	(2,628,700)	6,794,998
Cash and cash equivalents at the beginning of the period	3,063,947	2,842,495	0
Currency translation effect on cash and cash equivalents	(12,574)	(35,722)	252,163
Cash and cash equivalents at the end of the period	7,047,161	178,073	7,047,161
Supplement schedule of non-cash investing and financing activities:
Forgiveness of debt by major shareholder	0	0	1,466,052
Deferred consideration for interest in CJSC South Petroleum Co.	0	0	193,003
Warrants issued to pay unit issuance costs	0	0	280,172
Warrants issued to pay placement commission expenses	0	0	2,689,910
Debenture interest paid in common shares	0	0	213,479
Forgiveness of advance payment from Petromanas Energy Inc.	0	0	917,698
Initial fair value of shares of investment in Petromanas	0	0	46,406,821
Offset of impairment of oil and gas properties and renegotiation of accrued expenses	312,000	0	312,000
Forgiveness of receivable due from Manas Adriatic GmbH	0	0	(3,449,704)
Transfer from transaction prepayment to restricted cash due to acquisition of TF Petroleum AG	$ 111,656	$ 0	$ 111,656