TransAtlantic Petroleum (TAT) 10-K 25 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Mar. 20, 2020	Jun. 30, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Title of 12(b) Security	Common shares, par value $0.10
Trading Symbol	TAT
Security Exchange Name	NYSEAMER
Entity Registrant Name	TRANSATLANTIC PETROLEUM LTD.
Entity Central Index Key	0001092289
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		62,349,063
Entity Public Float			$ 17
Entity File Number	001-34574
Entity Incorporation, State or Country Code	D0
Entity Address, Address Line One	16803 Dallas Parkway
Entity Address, City or Town	Addison
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75001
City Area Code	214
Local Phone Number	220-4323
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	The information required by Part III of this Annual Report on Form 10-K, to the extent not set forth herein, is incorporated by reference to the registrant’s definitive proxy statement relating to the 2020 Annual Meeting of Shareholders which will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 9,664	$ 9,892
Accounts receivable, net
Oil and natural gas sales	13,299	12,912
Joint interest and other	1,218	982
Related party	561	878
Prepaid and other current assets	12,375	8,696
Note receivable - related party		5,828
Inventory	7,091	5,167
Total current assets	44,208	44,355
Oil and natural gas properties (successful efforts method)
Proved	167,948	163,006
Unproved	12,978	15,695
Equipment and other property	10,202	14,408
Property and equipment, gross	191,128	193,109
Less accumulated depreciation, depletion and amortization	(106,610)	(105,850)
Property and equipment, net	84,518	87,259
Other long-term assets:
Other assets	3,827	986
Note receivable - related party	3,951
Total other assets	7,778	986
Total assets	136,504	132,600
Current liabilities:
Accounts payable	4,555	3,896
Accounts payable - related party	4,262	2,922
Accrued liabilities	15,244	13,073
Derivative liability	966
Loans payable	17,143	22,000
Total current liabilities	42,170	41,891
Long-term liabilities:
Asset retirement obligations	4,749	4,667
Accrued liabilities	10,370	7,259
Deferred income taxes	22,728	20,314
Loans payable	2,857
Total long-term liabilities	40,704	32,240
Total liabilities	82,874	74,131
Commitments and contingencies
Shareholders' equity:
Common shares, $0.10 par value, 200,000,000 shares authorized; 62,230,058 shares and 52,413,588 shares issued and outstanding as of December 31, 2019 and 2018, respectively	6,223	5,241
Treasury shares	(970)	(970)
Additional paid-in-capital	582,359	577,488
Accumulated other comprehensive loss	(147,347)	(142,021)
Accumulated deficit	(432,685)	(427,319)
Total shareholders' equity	7,580	12,419
Total liabilities, Series A preferred shares and shareholders' equity	136,504	132,600
Series A Preferred Shares [Member]
Long-term liabilities:
Preferred shares, value	5,000	21,300
Related Party [Member] | Series A Preferred Shares [Member]
Long-term liabilities:
Preferred shares, value	$ 41,050	$ 24,750

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Common shares, par value	$ 0.10	$ 0.10
Common shares, authorized	200,000,000	200,000,000
Common shares, issued	62,230,058	52,413,588
Common shares, outstanding	62,230,058	52,413,588
Unrelated Party [Member] | Series A Preferred Shares [Member]
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, authorized	100,000	426,000
Preferred shares, issued	100,000	426,000
Preferred shares, outstanding	100,000	426,000
Preferred shares, liquidation preference per share	$ 50	$ 50
Related Party [Member] | Series A Preferred Shares [Member]
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, authorized	821,000	495,000
Preferred shares, issued	821,000	495,000
Preferred shares, outstanding	821,000	495,000
Preferred shares, liquidation preference per share	$ 50	$ 50

Consolidated Statements of Oper

Consolidated Statements of Operation and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 67,380	$ 70,789
Costs and expenses:
Production	11,674	10,769
Exploration, abandonment and impairment	6,267	401
Seismic and other exploration	330	489
General and administrative	11,785	14,719
Depreciation, depletion and amortization	13,227	14,059
Accretion of asset retirement obligations	213	174
Total costs and expenses	48,597	45,276
Operating income	18,783	25,513
Other (expense) income:
Interest and other expense	(10,667)	(10,048)
Interest and other income	947	1,082
Loss on commodity derivative contracts	(966)	(1,797)
Foreign exchange loss	(4,569)	(10,292)
Total other expense	(15,255)	(21,055)
Income before income taxes	3,528	4,458
Current income tax expense	(3,119)	(2,820)
Deferred income tax expense	(5,775)	(6,854)
Net loss	(5,366)	(5,216)
Other comprehensive loss:
Foreign currency translation adjustment	(5,326)	(17,255)
Comprehensive loss	$ (10,692)	$ (22,471)
Net loss per common share:
Basic net loss per common share	$ (0.10)	$ (0.10)
Weighted average common shares outstanding	55,134	50,505
Diluted net loss per common share	$ (0.10)	$ (0.10)
Weighted average common and common equivalent shares outstanding	55,134	50,505
Oil and Natural Gas Sales [Member]
Revenues:
Total revenues	$ 66,829	$ 70,268
Other [Member]
Revenues:
Total revenues	551	521
Transportation Costs [Member]
Costs and expenses:
Cost of goods and services sold	$ 5,101	$ 4,665

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Shares [Member]	Treasury Stock [Member]	Warrants [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Beginning balance at Dec. 31, 2017	$ 32,605	$ 5,032	$ (970)		$ 575,412	$ (124,766)	$ (422,103)
Beginning balance, shares at Dec. 31, 2017		50,319,000	333,000	699,000
Issuance of common shares	1,841	$ 181			1,660
Issuance of common shares (in shares)		1,808,000
Issuance of restricted stock units		$ 28			(28)
Issuance of restricted stock units, shares		286,000
Expiration of warrants				(699,000)
Tax withholding on restricted stock units	(11)				(11)
Share-based compensation	455				455
Foreign currency translation adjustment	(17,255)					(17,255)
Net loss	(5,216)						(5,216)
Ending balance at Dec. 31, 2018	$ 12,419	$ 5,241	$ (970)		577,488	(142,021)	(427,319)
Ending balance, shares at Dec. 31, 2018	52,413,588	52,413,000	333,000
Issuance of common shares	$ 5,526	$ 950			4,576
Issuance of common shares (in shares)		9,507,000
Issuance of restricted stock units		$ 32			(32)
Issuance of restricted stock units, shares		310,000
Tax withholding on restricted stock units	(92)				(92)
Share-based compensation	419				419
Foreign currency translation adjustment	(5,326)					(5,326)
Net loss	(5,366)						(5,366)
Ending balance at Dec. 31, 2019	$ 7,580	$ 6,223	$ (970)		$ 582,359	$ (147,347)	$ (432,685)
Ending balance, shares at Dec. 31, 2019	62,230,058	62,230,000	333,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018
Operating activities:
Net loss		$ (5,366)		$ (5,216)
Adjustments to reconcile net loss to net cash provided by operating activities:
Share-based compensation		419		455
Foreign currency loss		5,136		13,299
Loss on commodity derivative contracts		966		1,797
Cash settlement on commodity derivative contracts				(4,012)
Amortization on loan financing costs		41		42
Interest on Series A Preferred Shares paid in common shares		5,526		1,842
Deferred income tax expense		5,775		6,854
Exploration, abandonment and impairment		6,267		401
Depreciation, depletion and amortization		13,227		14,059
Accretion of asset retirement obligations		213		174
Changes in operating assets and liabilities:
Accounts receivable		(1,102)		(1,358)
Prepaid expenses and other assets		(7,013)		(6,673)
Accounts payable and accrued liabilities		9,114		7,031
Net cash provided by operating activities		33,203		28,695
Investing activities:
Additions to oil and natural gas properties		(29,348)		(23,517)
Additions to equipment and other properties		(1,482)		(3,015)
Net cash used in investing activities		(30,830)		(26,532)
Financing activities:
Tax withholding on restricted share units		(92)		(11)
Note receivable - related party		1,000
Loan proceeds		20,605		10,000
Loan repayment		(22,605)		(16,625)
Net cash used in financing activities		(1,092)		(6,636)
Effect of exchange rate on cash flows, cash equivalents and restricted cash		(1,504)		(5,931)
Net decrease in cash, cash equivalents and restricted cash		(223)		(10,404)
Cash, cash equivalents and restricted cash, beginning of year	[1]	10,027	[2]	20,431
Cash, cash equivalents and restricted cash, end of year	[2]	9,804		10,027	[1]
Supplemental disclosures:
Cash paid for interest		4,151		7,917
Cash paid for taxes		$ 3,436		$ 3,239
[1]	The balance at January 1, 2018 includes cash and cash equivalents of $18.9 million and restricted cash of $1.5 million in other assets. The balance at January 1, 2019 includes cash and cash equivalents of $9.9 million and restricted cash of $0.1 million in other assets.
[2]	The end of period balance at December 31, 2018 includes cash and cash equivalents of $9.9 million and restricted cash of $0.1 million in other assets. The end of period balance at December 31, 2019 includes cash and cash equivalents of $9.7 million and restricted cash of $0.1 million in other assets.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
Cash and cash equivalents	$ 9,664	$ 9,900	$ 9,892	$ 18,900
Other Assets [Member]
Restricted cash	$ 100	$ 100	$ 100	$ 1,500

General

General	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
General	1. General Nature of operations TransAtlantic Petroleum Ltd. (together with its subsidiaries, “we,” “us,” “our,” the “Company” or “TransAtlantic”) is an international oil and natural gas company engaged in acquisition, exploration, development and production. We have focused our operations in countries that have established, yet underexplored petroleum systems, have stable governments, are net importers of petroleum, have an existing petroleum transportation infrastructure and provide favorable commodity pricing, royalty rates and tax rates to exploration and production companies. We hold interests in developed and undeveloped oil and natural gas properties in Turkey and Bulgaria. As of March 20, 2020, N. Malone Mitchell 3rd beneficially owned approximately 49.9% our outstanding common shares. Persons and entities associated with Mr. Mitchell also owned 739,000 of our 12.0% Series A Convertible Redeemable Preferred Shares (“Series A Preferred Shares”). Mr. Mitchell’s affiliates are currently prohibited from converting any of their Series A Preferred Shares to common shares if such conversion would cause Mr. Mitchell or his affiliates to obtain beneficial ownership in excess of 49.9% of the outstanding common shares; however, Mr. Mitchell, upon 61 days’ prior notice, may increase or decrease such percentage cap. TransAtlantic is a holding company with two operating segments – Turkey and Bulgaria. Its assets consist of its ownership interests in subsidiaries that primarily own assets in Turkey and Bulgaria. Basis of presentation Our consolidated financial statements are expressed in U.S. Dollars and have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). All amounts in these notes to the consolidated financial statements are in U.S. Dollars unless otherwise indicated. In preparing financial statements, management makes informed judgments and estimates that affect the reported amounts of assets and liabilities as of the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management reviews estimates, including those related to fair value measurements associated with acquisitions, stock based compensation and financial derivatives, collectability of accounts receivable, the recoverability and impairment of long-lived assets, contingencies and income taxes. Changes in facts and circumstances may result in revised estimates and actual results may differ from these estimates.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2019
Going Concern [Abstract]
Going Concern	2. Going Concern These consolidated financial statements have been prepared on the basis of accounting principles applicable to a going concern. These principles assume that we will be able to realize our assets and discharge our obligations in the normal course of operations for the foreseeable future. We incurred a net loss of $5.4 million for the year ended December 31, 2019. As of December 31, 2019, we had $2.9 million in long-term debt, $17.1 million in short-term debt, $9.7 million in cash and a $2.0 million working capital surplus. Recent Oil Price Decline In March 2020, crude oil prices declined to approximately $25 per barrel for Brent crude as a result of market concerns about the economic impact from the coronavirus (COVID-19) as well as the ability of OPEC and Russia to agree on a perceived need to implement further production cuts in response to weaker worldwide demand. The current futures forward curve for Brent crude indicates that prices may continue at or near current prices for an extended time. As a result, we have reduced our planned capital expenditures to those necessary for production lease maintenance and those projecting a return on invested capital at current prices. In order to mitigate the impact of reduced prices on our 2020 cash flows and liquidity, we plan to implement cost reduction measures to reduce our operating costs and general and administrative expenses. In connection therewith, we intend to prioritize funding operating expenditures over general and administrative expenditures, whenever possible. Notwithstanding these measures, there remain risks and uncertainties regarding our ability to generate sufficient revenues at current oil prices to pay our debt obligations and accounts payable when due. As a result, there is substantial doubt about our ability to continue as a going concern. Management believes the going concern assumption to be appropriate for these consolidated financial statements. If the going concern assumption was not appropriate, adjustments would be necessary to the carrying values of assets and liabilities, reported revenues and expenses and in the balance sheet classifications used in these consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Significant accounting policies	3. Significant accounting policies Basis of preparation Our reporting standard for the presentation of our consolidated financial statements is U.S. GAAP. The consolidated financial statements include the accounts of the Company and all majority-owned and controlled subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Accounts receivable, net We have receivables for sales of oil and natural gas, as well as receivables related to joint interest accounts, which have a contractual maturity of one year or less. An allowance for doubtful accounts has been established based on management’s review of the collectability of the receivables in light of historical experience, the nature and volume of the receivables and other subjective factors. Accounts receivable are charged against the allowance, upon approval by management, when they are deemed uncollectible. Our allowance for doubtful accounts was $0.1 million and $0.5 million at December 31, 2019 and 2018, respectively. Cash and cash equivalents Cash and cash equivalents include term deposits and investments with original maturities of three months or less at the date of purchase. We consider all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. We determine the appropriate classification of our investments in cash and cash equivalents and marketable securities at the time of purchase and reevaluate such designation at each balance sheet date. Derivative instruments Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging Fair value measurements We follow ASC 820, Fair Value Measurements and Disclosures ASC 820 characterizes inputs used in determining fair value according to a hierarchy that prioritizes those inputs based upon the degree to which they are observable. The three levels of the fair value measurement hierarchy are as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Measured based on prices or valuation models that required inputs that are both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity). As required by ASC 820, financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values takes into account the market for our financial assets and liabilities, the associated credit risk and other factors as required by ASC 820. We consider active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Foreign currency remeasurement and translation The functional currency of our subsidiaries in Turkey and Bulgaria is the New Turkish Lira (“TRY”) and the Bulgarian Lev, respectively. We follow ASC 830, Foreign Currency Matters For certain subsidiaries, translation adjustments result from the process of translating the functional currency of subsidiary financial statements into the U.S. Dollar reporting currency. These translation adjustments are reported separately and accumulated in the consolidated balance sheets as a component of accumulated other comprehensive loss. Oil and natural gas properties In accordance with the successful efforts method of accounting for oil and natural gas properties, costs of productive wells, developmental dry holes and productive leases are capitalized into appropriate groups of properties based on geographical and geological similarities. Acquisition costs of proved properties are amortized using the unit-of-production method based on total proved reserves, and exploration well costs and additional development costs are amortized using the unit-of-production method based on proved developed reserves. Proceeds from the sale of properties are credited to property costs, and a gain or loss is recognized when a significant portion of an amortization base is sold or abandoned. Exploration costs, such as exploratory geological and geophysical costs, delay rentals and exploration overhead, are charged to expense as incurred. Exploratory drilling costs, including the cost of stratigraphic test wells, are initially capitalized but charged to exploration expense if and when the well is determined to be non-productive. The determination of an exploratory well’s ability to produce must be made within one year from the completion of drilling activities. The acquisition costs of unproved acreage are initially capitalized and are carried at cost, net of accumulated impairment provisions, until such leases are transferred to proved properties or charged to exploration expense as impairments of unproved properties. Equipment and other property Equipment and other property are stated at cost, and inventory is stated at weighted average cost which does not exceed replacement cost. Depreciation is calculated using the straight-line method over the estimated useful lives (ranging from 3 to 7 years) of the respective assets. The costs of normal maintenance and repairs are charged to expense as incurred. Material expenditures that increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The cost of equipment sold, or otherwise disposed of, and the related accumulated depreciation, are removed from the accounts and any gain or loss is reflected in current earnings. Impairment of long-lived assets We follow the provisions of ASC 360, Property, Plant, and Equipment Unproved oil and natural gas properties do not have producing properties and are valued on acquisition by management, with the assistance of an independent expert when necessary. As reserves are proved through the successful completion of exploratory wells, the cost is transferred to proved properties. The cost of the remaining unproved basis is periodically evaluated by management to assess whether the value of a property has diminished. To do this assessment, management considers (i) estimated potential reserves and future net revenues from an independent expert, (ii) our history in exploring the area, (iii) our future drilling plans per our capital drilling program prepared by our reservoir engineers and operations management and (iv) other factors associated with the area. Impairment is taken on the unproved property value if it is determined that the costs are not likely to be recoverable. The valuation is subjective and requires management to make estimates and assumptions which, with the passage of time, may prove to be materially different from actual results. Joint interest activities Certain of our exploration, development and production activities are conducted jointly with other entities and, accordingly, the consolidated financial statements reflect only our proportionate interest in such activities. Asset retirement obligations We recognize a liability for the fair value of all legal obligations associated with the retirement of tangible, long-lived assets and capitalize an equal amount as a cost of the asset. The cost associated with the abandonment obligation is included in the computation of depreciation, depletion and amortization. The liability accretes until we settle the obligation. We use a credit-adjusted risk-free interest rate in our calculation of asset retirement obligations. Revenue recognition On January 1, 2018, we adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers We recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers Our revenue consists of sales under two contracts, one for crude oil and one for natural gas. The crude oil is delivered to the inlet of a processing center and control is passed through a custodian to the customer at that point. We are paid for crude oil at the inlet plus or minus an adjustment for quality. Our natural gas is metered at the inlet of a transportation pipeline and control is passed at that point. We record natural gas sales at the delivery point to the customer, net of any pricing differentials. There is no material inventory remaining at the end of each reporting period. We have previously deducted any transportation costs, processing fees, or adjustments from revenue and recorded the net amount. Under the new revenue guidance, on January 1, 2018, we now record the gross amount of the revenue and records any fees, or deductions as expenses. Our revenue excludes any amounts collected on behalf of third parties. During the years ended December 31, 2019 and 2018, we sold $65.8 million and $68.2 million, respectively, of oil to Türkiye Petrol Rafinerileri A.Ş. (“TUPRAS”), a privately-owned oil refinery in Turkey, which represented approximately 97.7%, and 96.4% of our total revenues, respectively. Share-based compensation We follow ASC 718, Compensation—Stock Compensation Series A Preferred Shares On November 4, 2016, we issued 921,000 shares of 12.0% Series A Convertible Redeemable Preferred Shares (the “Series A Preferred Shares”). All of the Series A Preferred Shares were issued at a value of $50.00 per share. As the shares can be redeemed, they have been classified outside of equity (see Note 5 “Series A Preferred Shares”). Income taxes We follow the asset and liability method prescribed by ASC 740, Income Taxes As of December 31, 2019 and 2018, we have recorded a $6.8 million and $6.7 million liability, respectively, primarily due to uncertain tax positions related to the unwinding of all of our crude oil hedge collars and three-way contracts, which are included in long-term accrued liabilities on our consolidated balance sheet. We do not believe there will be any material changes in our unrecognized tax positions over the next twelve months. Our policy is that we recognize interest and penalties accrued on any unrecognized tax positions as a component of income tax expense. We are a Bermuda exempted company, and under current Bermuda law, we are not subject to tax on profits, income or dividends, nor is there any capital gains tax applicable to us in Bermuda. Comprehensive income We follow ASC 220, Comprehensive Income Business combinations We follow ASC 805, Business Combinations Consolidation Per share information Basic per share amounts are calculated using the weighted average common shares outstanding during the year, excluding unvested restricted stock units. We use the treasury stock method to determine the dilutive effect of stock options and other dilutive instruments. Under the treasury stock method, only “in the money” dilutive instruments impact the diluted calculations in computing diluted earnings per share. Diluted calculations reflect the weighted average incremental common shares that would be issued upon exercise of dilutive options assuming the proceeds would be used to repurchase shares at average market prices for the period.

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2019
Accounting Changes And Error Corrections [Abstract]
New accounting pronouncements	4. New accounting pronouncements In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) In June 2018, the FASB issued ASU 2018-07, Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes We have reviewed other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on our consolidated results of operations, financial position and cash flows. Based on that review, we believe that none of these pronouncements will have a significant effect on current or future earnings or operations.

Series A Preferred Shares

Series A Preferred Shares	12 Months Ended
	Dec. 31, 2019
Temporary Equity Disclosure [Abstract]
Series A preferred shares	5. Series A Preferred Shares Series A Preferred Shares On November 4, 2016, we issued 921,000 Series A Preferred Shares. All of the Series A Preferred Shares were issued at a value of $50.00 per share. The Series A Preferred Shares contain a substantive conversion option, are mandatorily redeemable and convert into a fixed number of common shares. As a result, under U.S GAAP, we have classified the Series A Preferred Shares within mezzanine equity in our consolidated balance sheet. As of December 31, 2019, there were $5.0 million of Series A Preferred Shares and $41.1 million of Series A Preferred Shares – related party outstanding (see Note 16 “Related party transactions”). Pursuant to the Certificate of Designations for the Series A Preferred Shares (the “Certificate of Designations”), each Series A Preferred Share may be converted at any time, at the option of the holder, into 45.754 common shares of the Company (which is equal to an initial conversion price of approximately $1.0928 per common share and is subject to customary adjustment for stock splits, stock dividends, recapitalizations or other fundamental changes). If not converted sooner, on November 4, 2024, we are required to redeem the outstanding Series A Preferred Shares in cash at a price per share equal to the liquidation preference plus accrued and unpaid dividends. At any time on or after November 4, 2020, we may redeem all or a portion of the Series A Preferred Shares at the redemption prices listed below (expressed as a percentage of the liquidation preference amount per share) plus accrued and unpaid dividends to the date of redemption, if the closing sale price of the common shares equals or exceeds 150% of the conversion price then in effect for at least 10 trading days (whether or not consecutive) in a period of 20 consecutive trading days, including the last trading day of such 20 trading day period, ending on, and including, the trading day immediately preceding the business day on which we issue a notice of optional redemption. The redemption prices for the 12-month period starting on the date below are: Period Commencing Redemption Price November 4, 2020 105.000% November 4, 2021 103.000% November 4, 2022 101.000% November 4, 2023 and thereafter 100.000% Additionally, upon the occurrence of a change of control, we are required to offer to redeem the Series A Preferred Shares within 120 days after the first date on which such change of control occurred, for cash at a redemption price equal to the liquidation preference per share, plus any accrued and unpaid dividends. Dividends on the Series A Preferred Shares are payable quarterly at our election in cash, common shares or a combination of cash and common shares at an annual dividend rate of 12.0% of the liquidation preference if paid all in cash or 16.0% of the liquidation preference if paid in common shares. If paid partially in cash and partially in common shares, the dividend rate on the cash portion is 12.0%, and the dividend rate on the common share portion is 16.0%. Dividends are payable quarterly, on June 30, September 30, December 31, and March 31 of each year. The holders of the Series A Preferred Shares also are entitled to participate pro-rata in any dividends paid on the common shares on an as-converted-to-common shares basis. For the year ended December 31, 2018, we paid $4.0 million in cash and issued 1,808,001 common shares as dividends on the Series A Preferred Shares. For the year ended December 31, 2019, we paid $1.4 million in cash and issued 9 ,507,092 Except as required by Bermuda law the holders of Series A Preferred Shares have no voting rights, except that for so long as at least 400,000 Series A Preferred Shares are outstanding, the holders of the Series A Preferred Shares voting as a separate class have the right to elect two directors to our board of directors. For so long as between 80,000 and 399,999 Series A Preferred Shares are outstanding, the holders of the Series A Preferred Shares voting as a separate class have the right to elect one director to our board of directors. Upon less than 80,000 Series A Preferred Shares remaining outstanding, any directors elected by the holders of Series A Preferred Shares shall immediately resign from our board of directors. The Certificate of Designation also provides that without the approval of the holders of a majority of the outstanding Series A Preferred Shares, we will not issue indebtedness for money borrowed or other securities which are senior to the Series A Preferred Shares in excess of the greater of (i) $100 million or (ii) 35% of our PV-10 of proved reserves as disclosed in our most recent independent reserve report filed or furnished by us on EDGAR.

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Property and equipment	6. Property and equipment Oil and natural gas properties The following table sets forth the capitalized costs under the successful efforts method for oil and natural gas properties: 2019 2018 (in thousands) Oil and natural gas properties, proved: Turkey $ 167,446 $ 162,494 Bulgaria 502 512 Total oil and natural gas properties, proved 167,948 163,006 Oil and natural gas properties, unproved: Turkey 12,978 14,965 Bulgaria - 730 Total oil and natural gas properties, unproved 12,978 15,695 Gross oil and natural gas properties 180,926 178,701 Accumulated depletion (101,232 ) (100,582 ) Net oil and natural gas properties $ 79,694 $ 78,119 At December 31, 2019 and 2018, we excluded $0.2 million and $0.5 million, respectively, of costs from the depletion calculation for development wells in progress. At December 31, 2019, the capitalized costs of our oil and natural gas properties included $5.0 million relating to acquisition costs of proved properties, which are being amortized by the unit-of-production method using total proved reserves, and $63.8 million relating to well costs and additional development costs, which are being amortized by the unit-of-production method using proved developed reserves. At December 31, 2018, the capitalized costs of our oil and natural gas properties included $6.5 million relating to acquisition costs of proved properties, which are being amortized by the unit-of-production method using total proved reserves, and $53.4 million relating to well costs and additional development costs, which are being amortized by the unit-of-production method using proved developed reserves. Impairments of proved properties and impairment of exploratory well costs Proved oil and natural gas properties are reviewed for impairment when events and circumstances indicate the carrying value of such properties may not be recoverable. The factors used to determine fair value include (Level 3 inputs), but are not limited to, estimates of proved reserves, future commodity prices, the timing and amount of future production and capital expenditures and discount rates commensurate with the risk reflective of the lives remaining for the respective oil and natural gas properties. During the year ended December 31, 2019, we recorded $6.3 million of exploratory dry-hole costs which were primarily measured using Level 3 inputs. During the year ended December 31, 2018, we recorded $0.3 million of impairment of proved properties and exploratory well costs which were primarily measured using Level 3 inputs. Capitalized costs greater than one year As of December 31, 2019 and 2018, there were no capitalized exploratory well costs greater than one year. Equipment and other property The historical cost of equipment and other property, presented on a gross basis with accumulated depreciation, is summarized as follows: 2019 2018 (in thousands) Other equipment $ 1,121 $ 1,240 Land 132 149 Inventory 3,209 6,791 Gas gathering system and facilities 172 194 Vehicles 304 336 Leasehold improvements, office equipment and software 5,264 5,698 Gross equipment and other property 10,202 14,408 Accumulated depreciation (5,378 ) (5,268 ) Net equipment and other property $ 4,824 $ 9,140 At December 31, 2019 and 2018, we classified $7.1 million and $5.2 million of inventory, respectively, as a current asset, which represents our expected inventory consumption during the next twelve months. We classify the remainder of our materials and supply inventory as a long-term asset because such materials will ultimately be classified as a long-term asset when the material is used in the drilling of a well. At December 31, 2019 and 2018, we excluded $10.3 million and $12.0 million of inventory, respectively, from depreciation, as the inventory had not been placed into service.

Derivative instruments

Derivative instruments	12 Months Ended
	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative instruments	7. Derivative instruments We use derivative instruments to manage certain risks related to commodity prices and foreign currency exchange rates. The use of derivative instruments for risk management is covered by operating policies and is closely monitored by our senior management. We do not hold any derivatives for speculative purposes and do not use derivatives with leveraged or complex features. We have not designated the derivative contracts as hedges for accounting purposes, and accordingly, we record the derivative contracts at fair value and recognize changes in fair value in earnings as they occur. Commodity price derivatives To the extent that a legal right of offset exists, we net the value of our derivative contracts with the same counterparty in our consolidated balance sheets. All of our oil derivative contracts are settled based upon Brent crude oil pricing. We recognize gains and losses related to these contracts on a fair value basis in our consolidated statements of operations and comprehensive loss under the caption “(Loss) gain on derivative contracts.” Settlements of derivative contracts are included in operating activities on our consolidated statements of cash flows under the caption “Cash settlement on derivative contracts.” At December 31, 2019, we had outstanding commodity derivative contracts with respect to our future crude oil production as set forth in the tables below: Fair Value of Derivative Instruments as of December 31, 2019 Derivative Contracts Weighted Weighted Average Average Minimum Maximum Additional Call Quantity Price Price Ceiling Estimated Fair Type Period (Bbl/day) (per Bbl) (per Bbl) (per Bbl) Value of Asset (Liability) (in thousands) Three-way collar January 1, 2020—April 30, 2020 1,000 $ 55.00 $ 72.90 $ 80.00 $ 21 Swap January 1, 2020—December 31, 2020 986 $ 60.30 (987 ) Total estimated fair value of liability $ (966 ) As of December 31, 2018, we had no outstanding derivative contracts with respect to our future crude oil production. During the years ended December 31, 2019 and 2018, we recorded a net loss on derivative contracts of $1.0 million and $1.8 million, respectively. On March 9, 2020, we unwound our commodity derivative contracts with respect to our future crude oil production. See Note 17 “Subsequent Events.” Balance sheet presentation The following table summarizes both: (i) the gross fair value of our commodity derivative instruments by the appropriate balance sheet classification even when the commodity derivative instruments are subject to netting arrangements and qualify for net presentation in our consolidated balance sheets at December 31, 2019, and (ii) the net recorded fair value as reflected on our consolidated balance sheets at December 31, 2019. At December 31, 2018, we did not have any commodity or foreign exchange derivative contracts. As of December 31, 2019 Gross Amount Net Amount of Gross Offset in the Liabilities Amount of Consolidated Presented in the Recognized Balance Consolidated Underlying Commodity Location on Balance Sheet Liabilities Sheet Balance Sheet (in thousands) Crude oil Current liabilities $ 987 $ (21 ) $ 966

Asset Retirement obligations

Asset Retirement obligations	12 Months Ended
	Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement obligations	8. Asset retirement obligations As part of our development of oil and natural gas properties, we incur asset retirement obligations (“ARO”). Our ARO results from our responsibility to abandon and reclaim our net share of all working interest properties and facilities. At December 31, 2019, the net present value of our total ARO was estimated to be $4.7 million, with the undiscounted value being $8.7 million. Total ARO at December 31, 2019 and 2018 shown in the table below consists of amounts for future plugging and abandonment liabilities on our wellbores and facilities based on third-party estimates of such costs, adjusted for inflation at a rate of 8.42% and 12.65% per annum for Turkey for the years ended December 31, 2019 and 2018, respectively. These values are discounted to present value using our credit-adjusted risk-free rate of 7.55% per annum for Turkey for the years ended December 31, 2019 and 2018. The following table summarizes the changes in our ARO for the years ended December 31, 2019 and 2018: 2019 2018 (in thousands) Asset retirement obligations at beginning of period $ 4,667 $ 4,727 Foreign exchange change effect (519 ) (1,270 ) Additions 388 1,036 Accretion expense 213 174 Asset retirement obligations at end of period 4,749 4,667 Long-term portion $ 4,749 $ 4,667 Our ARO is measured using primarily Level 3 inputs. The significant unobservable inputs to this fair value measurement include estimates of plugging costs, remediation costs, inflation rate and well life. The inputs are calculated based on historical data as well as current estimated costs.

Loans payable

Loans payable	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Loans payable	9. Loans payable As of the dates indicated, our third-party debt consisted of the following: December 31, December 31, 2019 2018 Fixed and floating rate loans (in thousands) Term Loan (1) $ 20,000 $ 22,000 Loans payable 20,000 22,000 Less: current portion 17,143 22,000 Long-term portion $ 2,857 $ – _______________________________________________________________________________________________________________ (1) Includes 2019, 2018, 2017 and 2016 Term Loans. 2016 Term Loan On August 31, 2016, DenizBank, A.S. (“DenizBank”) entered into a $30.0 million term loan (the “2016 Term Loan”) with TransAtlantic Exploration Mediterranean International Pty Ltd (“TEMI”) under our general credit agreement with DenizBank (the “Credit Agreement”). In addition, we and DenizBank entered into additional agreements with respect to up to $20.0 million of non-cash facilities, including guarantee letters and treasury instruments for future hedging transactions. The 2016 Term Loan bore interest at a fixed rate of 5.25% (plus 0.2625% for Banking and Insurance Transactions Tax per the Turkish government) per annum and was payable in six monthly installments of $1.25 million each through February 2017 and thereafter in twelve monthly installments of $1.88 million each through February 2018. On April 27, 2017, TEMI and DenizBank approved a revised amortization schedule for the 2016 Term Loan. Pursuant to the revised amortization schedule, the maturity date of the 2016 Term Loan was extended from February 2018 to June 2018, and the monthly principal payments were reduced from $1.88 million to $1.38 million. The other terms of the 2016 Term Loan remained unchanged. On June 28, 2018, we repaid the 2016 Term Loan in full in accordance with its terms. 2017 Term Loan On November 17, 2017, DenizBank entered into a $20.4 million term loan (the “2017 Term Loan”) with TEMI under the Credit Agreement. The 2017 Term Loan bore interest at a fixed rate of 6.0% (plus 0.3% for Banking and Insurance Transactions Tax per the Turkish government) per annum. The 2017 Term Loan had a grace period which bore no interest or payments due until July 2018. Thereafter, the 2017 Term Loan was payable in one monthly installment of $1.38 million, nine monthly installments of $1.2 million each through April 2019 and thereafter in eight monthly installments of $1.0 million each through December 2019, with the exception of one monthly installment of $1.2 million occurring in October 2019. The 2017 Term Loan matured in December 2019. On December 30, 2019, we repaid the 2017 Term Loan in full in accordance with its terms. 2018 Term Loan On May 28, 2018, DenizBank entered into a $10.0 million term loan (the “2018 Term Loan”) with TEMI under the Credit Agreement. The 2018 Term Loan bore interest at a fixed rate of 7.25% (plus 0.3% for Banking and Insurance Transactions Tax per the Turkish government) per annum. The 2018 Term Loan had a grace period through July 2018 during which no payments were due. Thereafter, accrued interest on the 2018 Term Loan was payable monthly and the principal on the 2018 Term Loan was payable in five monthly installments of $0.2 million each through December 2018, four monthly installments of $0.5 million each through April 2019, four monthly installments of $1.0 million each through August 2019, and four monthly installments of $0.75 million each through December 2019. The 2018 Term Loan matured in December 2019. On December 30, 2019, we repaid the 2018 Term Loan in full in accordance with its terms. 2019 Term Loan On February 22, 2019, DenizBank entered into a $20.0 million term loan (the “2019 Term Loan”) with TEMI under the Credit Agreement. The 2019 Term Loan bears interest at a fixed rate of 7.5% (plus 0.375% for Banking and Insurance Transactions Tax per the Turkish government) per annum. The 2019 Term Loan has a grace period through December 2019 during which no payments were due. Thereafter, accrued interest on the 2019 Term Loan is payable monthly, and the principal on the 2019 Term Loan is payable in 14 monthly installments of $1.4 million each. The 2019 Term Loan matures in February 2021. Amounts repaid under the 2019 Term Loan may not be reborrowed, and early repayments under the 2019 Term Loan are subject to early repayment fees. The 2019 Term Loan is guaranteed by Petrogas Petrol Gaz ve Petrokimya Urunleri Insaat Sanayi ve Ticaret A.S. (“Petrogas”), Amity Oil International Pty Ltd (“Amity”), Talon Exploration, Ltd. (“Talon Exploration”), DMLP, Ltd. (“DMLP”), and TransAtlantic Turkey, Ltd. (“TransAtlantic Turkey”). The 2019 Term Loan contains standard prohibitions on the activities of TEMI as the borrower, including prohibitions on encumbering or creating restrictions or limitations on all or a part of its assets, revenues, or properties, giving guaranties or sureties, selling assets or transferring revenues, dissolving, liquidating, merging, or consolidating, incurring additional debt, paying dividends, making certain investments, undergoing a change of control, and other similar matters. In addition, the 2019 Term Loan prohibits Amity, Talon Exploration, DMLP, and TransAtlantic Turkey from incurring additional debt. An event of default under the 2019 Term Loan includes, among other events, failure to pay principal or interest when due, breach of certain covenants, representations, warranties, and obligations, bankruptcy or insolvency, and the occurrence of a material adverse effect. The 2019 Term Loan is secured by a pledge of (i) the stock of TEMI, DMLP, TransAtlantic Turkey, and Talon Exploration, (ii) substantially all of the assets of TEMI, (iii) certain real estate owned by Petrogas, (iv) certain Gundem real estate and Muratli real estate owned by Gundem Turizm Yatirim ve Isletmeleri A.S. (“Gundem”), (v) certain Diyarbakir real estate owned 80% by Mr. Mitchell and 20% by Mr. Uras, and (vi) certain Ankara real estate owned 100% by Mr. Uras. In addition, TEMI assigned its Turkish collection accounts and its receivables from the sale of oil to DenizBank as additional security for the 2019 Term Loan. At December 31, 2019, we had $20.0 million outstanding under the 2019 Term Loan and no availability, and we were in compliance with the covenants in the 2019 Term Loan. During the years ended December 31, 2019 and 2018, we recorded interest expense related to the 2016, 2017, 2018, and 2019 Term Loan of $2.2 million and $1.8 million, respectively. Unsecured lines of credit Our wholly-owned subsidiaries operating in Turkey are party to unsecured, non-interest bearing lines of credit with a Turkish bank. At December 31, 2019 and 2018, we had no outstanding borrowings under these lines of credit. Loan financing costs We capitalize certain costs in connection with obtaining our borrowings, such as lender’s fees and related attorney’s fees. These costs are amortized on a straight line basis, which approximates the effective interest method over the term of the loan as a component of interest expense. Amortization of loan financing costs totaled approximately $0.1 million during each of 2019 and 2018.

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Shareholders' equity	10. Shareholders’ equity Share issuances to holders of Series A Preferred Shares On December 31, 2018, we issued an aggregate of 1,808,001 common shares to holders of the Series A Preferred Shares as payment of the December 31, 2018 quarterly dividend on the Series A Preferred Shares. Each common share was issued at a value of $1.0188 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on December 14, 2018. On July 2, 2019, we issued an aggregate of 2,321,568 common shares to holders of the Series A Preferred Shares as payment of the June 30, 2019 quarterly dividend on the Series A Preferred Shares. Each common share was issued at a value of $0.7934 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on June 14, 2019. On September 30, 2019, we issued an aggregate of 2,664,164 common shares to holders of the Series A Preferred Shares as payment of the September 30, 2019 quarterly dividend on the Series A Preferred Shares. Each common share was issued at a value of $0.6914 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on September 13, 2019. On December 31, 2019, we issued an aggregate of 4,521,360 common shares to holders of the Series A Preferred Shares as payment of the December 31, 2019 quarterly dividend on the Series A Preferred Shares. Each common share was issued at a value of $0.4074 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on December 13, 2019. Restricted stock units Under our 2009 Long-Term Incentive Plan (the “2009 Incentive Plan”) and our 2019 Long-Term Incentive Plan (the “2019 Incentive Plan” and together with the 2009 Incentive Plan, the “Incentive Plans”), we awarded restricted stock units (“RSUs”) and other share-based compensation to certain of our directors, officers, employees and consultants. Each RSU is equal in value to one of our common shares on the grant date. Upon vesting, an award recipient is entitled to a number of common shares equal to the number of vested RSUs. The RSU awards can only be settled in common shares. As a result, RSUs are classified as equity. At the grant date, we make an estimate of the forfeitures expected to occur during the vesting period and record compensation cost, net of the estimated forfeitures, over the requisite service period. The current forfeiture rate is estimated to be 12.5%. Under the Incentive Plans, RSUs vest over specified periods of time ranging from immediately to four years. RSUs are deemed full value awards and their value is equal to the market price of our common shares on the grant date. ASC 718 requires that the Incentive Plan be approved in order to establish a grant date. Under ASC 718, the approval date for the 2009 Incentive Plan was February 9, 2009 and the approval date for the 2019 Incentive Plan was April 16, 2019, in each case, the date our board of directors approved the Incentive Plans. Share-based compensation of approximately $0.4 million and $0.5 million Number of RSUs (in thousands) Weighted Average Grant Date Fair Value Per RSU Unvested RSUs outstanding at December 31, 2018 454 $ 1.42 Granted 767 0.77 Forfeited (4 ) 1.29 Vested (362 ) 1.42 Unvested RSUs outstanding at December 31, 2019 855 $ 0.84 Earnings per share We account for earnings per share in accordance with ASC Subtopic 260-10, Earnings Per Share The following table presents the basic and diluted earnings per common share computations: (in thousands, except per share amounts) 2019 2018 Net loss $ (5,366 ) $ (5,216 ) Basic net loss per common share: Shares: Weighted average common shares outstanding 55,134 50,505 Basic net loss per common share: $ (0.10 ) $ (0.10 ) Diluted net loss per common share: Shares: Weighted average common and common equivalent shares outstanding 55,134 50,505 Diluted net loss per common share: $ (0.10 ) $ (0.10 ) Warrants On December 31, 2014, April 24, 2015 and August 13, 2015, we issued 233,334, 233,333 and 233,333 common share purchase warrants (“Warrants”), respectively, to the shareholders of Gundem as consideration for the pledge of Turkish real estate in exchange for an extension of the maturity of a credit agreement between us and a Turkish bank. As consideration for the pledge of Turkish real estate, the independent members of our board of directors approved the issuance of the Warrants to be allocated in accordance with each shareholder’s ownership percentage of Gundem. The Warrants were issued pursuant to a warrant agreement, whereby the Warrants were immediately exercisable and entitled the holder to purchase one common share for each Warrant. The Warrants were issued in December 2014, April 2015 and August 2015 at an exercise price of $5.99, $5.65 and $2.99 per share, respectively. The Warrants expired, unexercised, pursuant to their terms on January 6, 2018.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income taxes	11. Income taxes The income tax provision differs from the amount that would be obtained by applying the Bermuda statutory income tax rate of 0% for 2019 and 2018 to income (loss) from operations as follows: 2019 2018 (in thousands except rates) Statutory rate 0.00 % 0.00 % Income before income taxes $ 3,528 $ 4,458 Increase (decrease) resulting from: Foreign tax rate differentials $ 4,339 $ 4,720 Uncertain tax position 861 935 Unremitted earnings 1,387 2,927 Change in valuation allowance (3,127 ) (4,743 ) Expiration of non-capital tax loss carryovers 2,005 4,793 Other 3,429 1,042 Total $ 8,894 $ 9,674 The components of the net deferred income tax liability at December 31, 2019 and 2018 were as follows: 2019 2018 (in thousands) Deferred tax assets Property and equipment $ 299 $ 609 Timing of accruals 593 574 Non-capital loss carryovers 12,030 13,261 Valuation allowance (12,030 ) (13,261 ) Total deferred tax assets $ 892 $ 1,183 Deferred tax liabilities Property and equipment $ (12,524 ) $ (9,728 ) Unremitted earnings (9,690 ) (9,401 ) Timing of accruals (1,406 ) (2,368 ) Total deferred tax liabilities (23,620 ) (21,497 ) Net deferred tax liabilities $ (22,728 ) $ (20,314 ) Components of net deferred tax liabilities Non-current assets $ 892 $ 1,183 Non-current liabilities (23,620 ) (21,497 ) Net deferred tax liabilities $ (22,728 ) $ (20,314 ) We have accumulated losses or resource-related deductions available for income tax purposes in Turkey, Romania, Bulgaria and the United States. As of December 31, 2019, we had (i) non-capital tax losses in Turkey of approximately 7.1 million TRY (approximately $1.2 million), which will begin to expire in 2020; (ii) non-capital tax losses in Romania of approximately 1.6 million Romanian New Leu (approximately $0.4 million), which will begin to expire in 2020; (iii) non-capital losses in Bulgaria of approximately 18.9 million Bulgarian Lev (approximately $10.8 million), which will begin to expire in 2020; and (iv) non-capital tax losses in the United States of approximately $50.6 million, which will begin to expire in 2020. As of December 31, 2019 and 2018, we recorded a valuation allowance of $12.0 million and $13.3 million, respectively, as a reduction to our net operating losses and deferred tax assets. We file income tax returns in the United States, Turkey, Bulgaria and Cyprus, with Turkey being the only jurisdiction with significant amounts of taxes due. Except for the outstanding examination of the 2011 income tax filings for Petrogas, Turkish income tax filings before 2012 are no longer subject to examination. As the result of 2016 Turkish legislation allowing us the option to enter into an agreement to exempt corporate income tax filings from examination, we were able to close additional years from examination. As of December 31, 2019 and 2018, we recorded a $6.8 million and $6.7 million liability, respectively, primarily due to uncertain tax positions related to the unwinding of all our crude oil hedge collars and three-way contracts, which are included in long-term accrued liabilities on our consolidated balance sheet. The unrecognized tax benefits at December 31, 2019 and 2018 were as follows: 2019 2018 (in thousands) Unrecognized tax benefits at beginning of period $ 6,714 $ 8,663 Gross increases - tax positions in prior period 861 935 Foreign exchange change effect (784 ) (2,884 ) Unrecognized tax benefits at end of period $ 6,791 $ 6,714 As of December 31, 2019, there were no material uncertain tax positions for which the total amounts of unrecognized tax benefits will significantly increase or decrease within the next 12 months. Unremitted earnings Our foreign subsidiaries generate earnings that are not subject to Turkish dividend withholding taxes so long as they are permanently reinvested in our operations in Turkey. Pursuant to ASC Topic No. 740-30, undistributed earnings of foreign subsidiaries that are no longer permanently reinvested would become subject to Turkish dividend withholding taxes. Prior to fiscal year 2015, we asserted that the undistributed earnings of our foreign Turkish subsidiaries were permanently reinvested. Primarily due to our obligation to pay dividends on our Series A Preferred Shares, management concluded that the ability to access certain amounts of foreign earnings would provide greater flexibility to meet corporate cash flow needs without constraining foreign objectives. Accordingly, in the fourth quarter of 2015, we withdrew the permanent reinvestment assertion on 135.2 million TRY of cumulative earnings generated by certain of our Turkish foreign subsidiaries through fiscal year 2015. We provided for Turkish dividend withholding taxes on the 135.2 million TRY of cumulative undistributed foreign Turkish earnings, resulting in the recognition of a deferred tax liability. As of December 31, 2019 and 2018, we provided for Turkish dividend, withholding taxes on 383.7 million and 329.7 million TRY, respectively, of cumulative undistributed foreign Turkish earnings, resulting in an additional increase in our deferred tax liability. There is no certainty as to the timing of when or if such Turkish foreign earnings will be distributed in whole or in part.

Segment information

Segment information	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment information	12. Segment information In accordance with ASC 280, Segment Reporting Corporate Turkey Bulgaria Total (in thousands) For the year ended December 31, 2019 Total revenues $ – $ 67,380 $ – $ 67,380 Production – 11,513 161 11,674 Transportation costs – 5,101 – 5,101 Exploration, abandonment, and impairment – – 6,267 6,267 Seismic and other exploration – 330 – 330 General and administrative 5,373 6,274 138 11,785 Depreciation, depletion and amortization 132 13,095 – 13,227 Accretion of asset retirement obligations – 190 23 213 Total costs and expenses 5,505 36,503 6,589 48,597 Operating (loss) income (5,505 ) 30,877 (6,589 ) 18,783 Interest and other expense (8,450 ) (2,217 ) – (10,667 ) Interest and other income 419 528 – 947 Loss on commodity derivative contracts – (966 ) – (966 ) Foreign exchange gain (loss) 117 (4,626 ) (60 ) (4,569 ) (Loss) income before income taxes (13,419 ) 23,596 (6,649 ) 3,528 Income tax expense – (8,894 ) – (8,894 ) Net loss (income) $ (13,419 ) $ 14,702 $ (6,649 ) $ (5,366 ) Total assets at December 31, 2019 $ 7,810 $ 127,986 $ 708 $ 136,504 Capital expenditures for the year ended December 31, 2019 $ – $ 25,146 $ 5,537 $ 30,683 For the year ended December 31, 2018 Total revenues $ – $ 70,789 $ – $ 70,789 Production – 10,649 120 10,769 Transportation costs – 4,665 – 4,665 Exploration, abandonment, and impairment – 401 – 401 Seismic and other exploration – 488 1 489 General and administrative 9,222 5,344 153 14,719 Depreciation, depletion and amortization 142 13,917 – 14,059 Accretion of asset retirement obligations – 151 23 174 Total costs and expenses 9,364 35,615 297 45,276 Operating (loss) income (9,364 ) 35,174 (297 ) 25,513 Interest and other expense (7,026 ) (3,022 ) – (10,048 ) Interest and other income 184 897 1 1,082 Loss on commodity derivative contracts – (1,797 ) – (1,797 ) Foreign exchange loss (351 ) (9,932 ) (9 ) (10,292 ) (Loss) income before income taxes (16,557 ) 21,320 (305 ) 4,458 Income tax expense – (9,674 ) – (9,674 ) Net (loss) income $ (16,557 ) $ 11,646 $ (305 ) $ (5,216 ) Total assets at December 31, 2018 $ 8,358 $ 122,325 $ 1,917 $ 132,600 Capital expenditures for the year ended December 31, 2018 $ – $ 23,517 $ – $ 23,517

Financial instruments

Financial instruments	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Financial instruments	13. Financial instruments Foreign currency risk We have underlying foreign currency exchange rate exposure. Our currency exposures primarily relate to transactions denominated in the Bulgarian Lev, European Union Euro, and TRY. We are also subject to foreign currency exposures resulting from translating the functional currency of our subsidiary financial statements into the U.S. Dollar reporting currency. We have used foreign currency forward and swap contracts to manage exchange rate fluctuations. At December 31, 2019 and 2018, we had 28.6 million TRY and 7.8 million TRY, respectively (approximately $4.8 million and $1.5 million, respectively) in cash and cash equivalents, which exposes us to exchange rate risk based on fluctuations in the value of the TRY. Commodity price risk We are exposed to fluctuations in commodity prices for oil and natural gas. Commodity prices are affected by many factors, including but not limited to, supply and demand. Concentration of credit risk The majority of our receivables are within the oil and natural gas industry, primarily from our industry partners and from government agencies. Included in receivables are amounts due from Turkiye Petrolleri Anonim Ortakligi (“TPAO”), the national oil company of Turkey, Zorlu Dogal Gaz Ithalat Ihracat ve Toptan Ticaret A.S. (“Zorlu”), a privately owned natural gas distributor in Turkey, and TUPRAS, which purchase the majority of our oil and natural gas production. The receivables are not collateralized. To date, we have experienced minimal bad debts and have no allowance for doubtful accounts for TUPRAS. The majority of our cash and cash equivalents are held by three financial institutions in the United States and Turkey. Fair value measurements Cash and cash equivalents, receivables, notes receivable, accounts payable and accrued liabilities were each estimated to have a fair value approximating the carrying amount at December 31, 2019 and 2018 due to the short maturity of those instruments. The financial assets and liabilities measured on a recurring basis at December 31, 2019 consisted of our commodity derivative contracts and the 2019 Term Loan. Fair values for options are based on counterparty market prices. The counterparties use market standard valuation methodologies incorporating market inputs for volatility and risk free interest rates in arriving at a fair value for each option contract. Prices are verified by us using analytical tools. There are no performance obligations related to the collar and swap contracts to hedge our oil production. We utilize models based on a range of observable market inputs, including pricing models, quoted market prices of publicly traded securities with similar duration and yield, time value, yield curve, prepayment spreads, default rates and discounted cash flow and the values for these contracts are disclosed in Level 2 of the fair value hierarchy to determine the fair value of our commodity derivative contracts. We review prices received from our counterparty for unusual fluctuations to ensure that the prices represent a reasonable estimate of fair value. The 2019 Term Loan was estimated using a discounted cash flow analysis based on unobservable Level 3 inputs, including our own credit risk associated with the loan payable. At December 31, 2019, the carrying value approximated the fair value for the 2019 Term Loan. The following table summarizes the valuation of our financial liabilities as of December 31, 2019: Fair Value Measurement Classification Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Liabilities Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (in thousands) Measured on a recurring basis Liabilities: Commodity derivative contracts $ – $ (966 ) $ – $ (966 ) Disclosed but not carried at fair value Liabilities: 2019 Term Loan – – (17,333 ) (17,333 ) Total $ – $ (966 ) $ (17,333 ) $ (18,299 ) At December 31, 2018, the fair value of the 2018 Term Loan and 2017 Term Loan were estimated using a discounted cash flow analysis based on unobservable Level 3 inputs, including our own credit risk associated with the loans payable. At December 31, 2018, the carrying value approximated the fair value for the 2018 Term Loan and 2017 Term Loan. The following table summarizes the valuation of our financial liabilities as of December 31, 2018: Fair Value Measurement Classification Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Liabilities Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (in thousands) Disclosed but not carried at fair value Liabilities: 2017 Term Loan – – (11,938 ) (11,938 ) 2016 Term Loan – – (8,192 ) (8,192 ) Total $ – $ – $ (20,130 ) $ (20,130 )

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	14. Leases Operating and financing leases We lease office space in Dallas, Texas, Bulgaria, and Turkey. We also lease apartments, vehicles, and operations yards in Turkey. The terms of our lease agreements generally range from one to five years, and some contain options to renew, cancel or purchase. We determine if an arrangement meets the definition of a lease at inception, at which time we also perform an analysis to determine whether the lease qualifies as an operating or financing lease. Our operating and financing leases are included in other assets and accrued liabilities (current and long-term) on our consolidated balance sheet. Lease expense for our operating leases is recognized in our consolidated statements of operations and comprehensive loss under the caption “General and administrative”. Lease expense for our operating leases for our operations yards in Turkey in our consolidated statements of operations and comprehensive loss under the caption “Production”. Lease right-of-use assets and lease liabilities are measured using the present value of future minimum lease payments over the lease term at commencement date. The right-of-use asset also includes any lease payments made on or before the commencement date of the lease, less any lease incentives received. As the rate implicit in the lease is not readily determinable in our leases, we use our incremental borrowing rates based on the information available at the lease commencement date in determining the present value of lease payments. For leases with an initial non-cancelable lease term of less than one year and no option to purchase, we have elected not to recognize the lease on our consolidated balance sheets and instead recognize lease payments on a straight-line basis over the lease term. Operating lease costs were comprised of the following: December 31, 2019 (in thousands) Operations yards $ 584 Office rent 176 Vehicles 128 Other 82 Total lease costs $ 970 Future non-cancelable minimum lease payments under our operating and financing lease commitments as of December 31, 2019 were as follows for each of the next five years and thereafter: December 31, 2019 (in thousands) 2020 $ 960 2021 867 2022 867 2023 557 2024 200 Thereafter - Total $ 3,451 Less: Imputed interest 342 Present value of lease liabilities $ 3,109 As of December 31, 2019, the weighted average remaining lease term is 3.5 years, and the weighted average discount rate used was 7.6%. Future non-cancelable minimum lease payments under our operating lease commitments as of December 31, 2018 were as follows for each of the next five years and thereafter: December 31, 2018 (in thousands) 2019 $ 963 2020 710 2021 636 2022 626 2023 316 Thereafter - Total $ 3,251

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Contingencies	15. Contingencies Selmo We are involved in litigation with persons who claim ownership of a portion of the surface at the Selmo oil field in Turkey. These cases are being vigorously defended by TEMI and Turkish governmental authorities. We do not have enough information to estimate the potential additional operating costs we would incur in the event the purported surface owners’ claims are ultimately successful. Any adjustment arising out of the claims will be recorded when it becomes probable and measurable. Bulgaria During 2012, we were notified that the Bulgarian government may seek to recover approximately $2.0 million in contractual obligations under our Aglen exploration permit work program. Due to the Bulgarian government’s January 2012 ban on fracture stimulation and related activities, a force majeure event under the terms of the exploration permit was recognized by the Bulgarian government. Although we invoked force majeure, we recorded $2.0 million in general and administrative expense relating to our Aglen exploration permit during 2012 for this contractual obligation. In October 2015, the Bulgarian Minister of Energy filed a suit in the Sofia City Court against Direct Petroleum Bulgaria EOOD (“Direct Bulgaria”), claiming $200,000 in liquidated damages for Direct Bulgaria’s alleged failure to fulfill its obligations under the Aglen exploration permit work program. In May 2018, the Sofia City Court concluded that Direct Bulgaria did not fail to fulfill its obligations under the Aglen exploration permit work program as Direct Bulgaria received a force majeure event recognition as a result of a fracture stimulation ban in 2012, imposed by the Bulgarian Parliament, which force majeure event had not been terminated before the expiry of Direct Bulgaria’s obligations under the Aglen exploration permit work program. Additionally, the Sofia City Court concluded that, even if Direct Bulgaria had failed to fulfill its obligations under the Aglen exploration permit work program, the Bulgarian Minister of Energy failed to file suit within the three-year limitation period. Therefore, the Sofia City Court dismissed all claims of the Bulgarian Minister of Energy and ordered the Bulgarian Minister of Energy to pay Direct Bulgaria’s attorney’s fees and legal costs for court experts. In June 2018, the Bulgarian Minister of Energy filed an appeal in the Sofia Court of Appeal. In November 2018, the Sofia Court of Appeal concluded that the judgement of the Sofia City Court was correct and, therefore, dismissed the Bulgarian Minister of Energy’s appeal. In January 2019, the Bulgarian Minister of Energy filed an appeal in the Supreme Court of Cassation. The Supreme Court of Cassation held a court hearing on October 21, 2019. Pursuant to a notice on the website of the Supreme Court of Cassation, a ruling was issued on March 10, 2020, by virtue of which the court rejected to admit the appeal of the Minster of Energy. Such ruling should be final; however, it has not been published as of the date hereof, and therefore, we cannot conclusively confirm the ruling. As a result of the judgement of the Sofia Court of Appeal, we are currently evaluating an adjustment to our contingencies relating to production leases and exploration permits. TUPRAS We sell all of our Southeastern Turkey oil to TUPRAS pursuant to a domestic crude oil purchase and sale agreement between TUPRAS and TEMI. The price of the oil delivered pursuant to the purchase and sale agreement is determined under the Petroleum Market Law No. 5015 under the laws of the Republic of Turkey. In February 2019, Turkey entered into the Pricing Amendment to change the statutory pricing formula for purchases of Turkish domestic crude oil. In November 2019, TUPRAS filed a lawsuit against us, and filed similar lawsuits against other domestic oil producers, in the Batman 4 th

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related party transactions	16. Related party transactions Series A Preferred Shares transactions On November 4, 2016, we issued 921,000 Series A Preferred Shares. Of the 921,000 Series A Preferred Shares, (i) 815,000 shares were issued in exchange for $40.75 million of our 13.0% Senior Convertible Notes due 2017 (the “2017 Notes”) Equity transactions On December 31, 2014, April 24, 2015 and August 13, 2015, we issued 134,169, 134,168 and 134,168 Warrants, respectively, to Mr. Mitchell and 23,333, 23,333 and 23,333 Warrants, respectively, to each of Mr. Mitchell’s children, as shareholders of Gundem, as consideration for the pledge of Turkish real estate in exchange for an extension of the maturity date of a credit agreement between us and a Turkish bank. As consideration for the pledge of Turkish real estate, the independent members of our board of directors approved the issuance of the Warrants to be allocated in accordance with each shareholder’s ownership percentage of Gundem. The Warrants were issued pursuant to a warrant agreement, whereby the Warrants were immediately exercisable and entitled the holder to purchase one common share for each Warrant. The Warrants issued in December 2014, April 2015 and August 2015 an exercise price of $5.99, $5.65 and $2.99 per share, respectively. The Warrants expired, unexercised, pursuant to their terms on January 6, 2018. On December 5, 2016, Randy Rochman, chief executive officer of West Family Investments, and Jonathon Fite, co-owner of the general partner of KMF Investment Partners, LP, were appointed to our board of directors. Randy Rochman and KMF Investment Partners, LP held, and currently hold, 15,000 and 69,000 Series A Preferred Shares, respectively. On March 31, 2017, these 84,000 shares ($4.2 million in liquidation value) were re-classified to related party. On December 31, 2018, we issued an aggregate of 1,808,001 common shares to holders of the Series A Preferred Shares as payment of the December 31, 2018 quarterly dividend on the Series A Preferred Shares (see Note 10 “Shareholder’s Equity”). Of the 1,808,001 common shares, 971,724 common shares were issued to Dalea, the trusts of Mr. Mitchell’s four children, Longfellow Energy, an entity controlled by Mr. Mitchell, KMF Investment Partners, LP, and Randy Rochman. For the year ended December 31, 2019, we issued 9 ,507,092 Dalea Amended Note and Pledge Agreement On April 19, 2016, we entered into a note amendment agreement (the “Note Amendment Agreement”) with Mr. Mitchell, and Dalea, pursuant to which Dalea agreed to deliver an amended and restated promissory note (the “Amended Note”) in favor of us, in the principal sum of $7,964,053, which Amended Note would amend and restate that certain promissory note, dated June 13, 2012, made by Dalea in favor of us in the principal amount of $11.5 million (the “Original Note”). The Note Amendment Agreement reduced the principal amount of the Original Note to $8.0 million in exchange for the cancellation of an account payable of approximately $3.5 million (the “Account Payable”) owed by TransAtlantic Albania Ltd. (“TransAtlantic Albania”), our former subsidiary, to Viking International Limited (“Viking International”) Pursuant to the Note Amendment Agreement, on April 19, 2016, we entered into the Amended Note, which amended and restated the Original Note that was issued in connection with our sale of our former subsidiaries, Viking International and Viking Geophysical Services Ltd. (“Viking Geophysical”) Viking Services B.V., the beneficial owner of Viking International, VOS and Viking Geophysical (“Viking Services”) Master Services Agreement, dated March 3, 2016, by and between Production Solutions International Petrol Arama Hizmetleri Anomin Sirketi (“PSI”), an affiliate of Mr. Mitchell, and TEMI (the “PSI MSA”) In addition, pursuant to the Note Amendment Agreement, on April 19, 2016, we entered into a pledge agreement (the “Pledge Agreement”) with Dalea, whereby Dalea pledged the $2.0 million principal amount of the 2017 Notes owned by Dalea (the “Dalea Convertible Notes”), including any future securities for which the Dalea Convertible Notes are converted or exchanged, as security for the performance of Dalea’s obligations under the Amended Note. The Pledge Agreement provides that interest payable to Dalea under the Dalea Convertible Notes (or any future securities for which the Dalea Convertible Notes are converted or exchanged) will be credited first against the outstanding principal balance of the Amended Note and, upon full repayment of the outstanding principal balance of the Amended Note, any accrued and unpaid interest on the Amended Note. The Pledge Agreement contains customary events of default. On November 4, 2016, Dalea exchanged $2.0 million of the 2017 Notes for 40,000 Series A Preferred Shares. On February 28, 2019, we and Dalea entered into an amendment (the “Note Amendment”) to the Amended Note (as amended by the Note Amendment, the “Note”), pursuant to which we and Dalea agreed to extend the maturity date of the Note to February 26, 2021 (unless otherwise accelerated in accordance with the terms of the Note). On June 28, 2019, we and Dalea entered into an amendment to the Pledge Agreement, pursuant to which we and Dalea agreed that any interest payable on the Series A Preferred Shares held by Dalea and pledged under the Pledge Agreement (i) if paid in cash, will be credited first against the outstanding principal of the Note, and upon full repayment of the outstanding principal balance of the Note, any accrued and unpaid interest on the Note, and (ii) if paid other than in cash, will be paid to Dalea and, within five business days of such payment to Dalea, Dalea will pay $61,500 toward the principal and, upon full repayment of the outstanding principal of the Note, any accrued and unpaid interest on the Note. During 2019, we reduced the principal amount of the Note by $1.0 million for amounts repaid by Dalea on February 28, 2019 in conjunction with the Note Amendment and by $0.2 million as a result of dividends paid on the Series A Preferred Shares. As of December 31, 2019 and 2018, the amount receivable under the Amended Note was $4.0 million and $5.8 million, respectively. Pledge fee agreements In connection with the pledge of the Gundem real estate and Muratli real estate to DenizBank as collateral for certain loans, on August 31, 2016, we entered into a pledge fee agreement with Gundem (the “Gundem Fee Agreement”) pursuant to which we pay Gundem a fee equal to 5% per annum of the collateral value of the Gundem real estate and Muratli real estate. Pursuant to the Gundem Fee Agreement, the Gundem real estate has a deemed collateral value of $10.0 million and the Muratli real estate has a deemed collateral value of $5.0 million. In connection with the pledge of certain Diyarbakir real estate to DenizBank as collateral for certain loans, on August 31, 2016, we entered into a pledge fee agreement with Messrs. Mitchell and Uras (the “Diyarbakir Fee Agreement”) pursuant to which we pay Messrs. Mitchell and Uras a fee of 5% per annum of the collateral value of the Diyarbakir real estate. Pursuant to the Diyarbakir Fee Agreement, the Diyarbakir real estate has a deemed collateral value of $5.0 million. In connection with the pledge of certain Ankara real estate to DenizBank as collateral for certain loans, on November 28, 2017, we entered into a pledge fee agreement with Mr. Uras (the “Uras Fee Agreement”) pursuant to which we pay Mr. Uras a fee of 5% per annum of the collateral value of the Ankara real estate. Pursuant to the Uras Fee Agreement, the Ankara real estate has a deemed collateral value of $5.2 million. Amounts payable to Mr. Mitchell under the Gundem Fee Agreement and the Diyarbakir Fee Agreement will be used to reduce the outstanding principal amount of the Amended Note. During the years ended December 31, 2019 and 2018, we reduced the principal amount of the Amended Note by $0.6 million Leases On August 7, 2018 and effective as of June 14, 2018, our wholly owned subsidiary, TransAtlantic USA, entered into a sublease agreement (the “Sublease”) with Longfellow to lease corporate office space located at 16803 North Dallas Parkway, Addison, Texas. TransAtlantic USA subleases approximately 10,000 square feet of corporate office space in Addison, Texas. The initial lease term under the Sublease commenced on June 14, 2018 (the “Commencement Date”) and expires on June 30, 2020, unless earlier terminated in accordance with the Sublease. From the Commencement Date until June 30, 2019, TransAtlantic USA is required to pay monthly rent of $18,333.33 to Longfellow, plus utilities, real property taxes, and liability insurance (to the extent that TransAtlantic USA does not obtain its own liability insurance). The monthly rent increases by $416.67 for the period commencing June 30, 2019 and ending June 30, 2021. Pursuant to the Sublease, effective as of June 14, 2018, TransAtlantic USA and Longfellow agreed to terminate the Amended and Restated Office Lease, dated June 26, 2017, by and between TransAtlantic USA and Longfellow. On July 1, 2018, our wholly owned subsidiary, TransAtlantic Turkey, entered into a yard lease agreement (the “Gundem Yard Lease”) with Gundem to lease four parcels of land located at Muratli – Ballihoca Degirmenyolu, Tekirdag in the Republic of Turkey. TransAtlantic Turkey is permitted to use the land for storage, maintenance, and staging of materials and equipment. The lease term under the Gundem Yard Lease commenced on July 1, 2018 and expires on June 30, 2023, unless earlier terminated in accordance with the Gundem Yard Lease. From July 1, 2018 to December 31, 2018, TransAtlantic Turkey is required to pay monthly rent of $8,500.00; from January 1, 2019 to December 31, 2019, TransAtlantic Turkey is required to pay monthly rent of $8,755.00; from January 1, 2020 to December 31, 2020, TransAtlantic Turkey is required to pay monthly rent of $9,017.00; from January 1, 2021 to December 31, 2021, TransAtlantic Turkey is required to pay monthly rent of $9,288.00; from January 1, 2022 to December 31, 2022, TransAtlantic Turkey is required to pay monthly rent of $9,566.00; and from January 1, 2023 to June 30, 2023, TransAtlantic Turkey is required to pay monthly rent of $9,853.00. On January 1, 2019, our wholly owned subsidiary, TEMI, entered into a yard lease agreement (the “Diyarbakir Yard Lease”) with Mr. Uras to lease six parcels of land located at Diyarbakir in the Republic of Turkey. TransAtlantic Turkey is permitted to use the land for storage, maintenance, and staging of materials and equipment. The lease term under the Diyarbakir Yard Lease commenced on January 1, 2018 and expires on June 30, 2023, unless earlier terminated in accordance with the Diyarbakir Yard Lease. From January 1, 2019 to December 31, 2019, TransAtlantic Turkey is required to pay monthly rent of $40,000.00; from January 1, 2020 to December 31, 2020, TransAtlantic Turkey is required to pay monthly rent of $41,000.00; from January 1, 2021 to December 31, 2021, TransAtlantic Turkey is required to pay monthly rent of $42,025.00; from January 1, 2022 to December 31, 2022, TransAtlantic Turkey is required to pay monthly rent of $43,076.00; and from January 1, 2023 to June 30, 2023, TransAtlantic Turkey is required to pay monthly rent of $44,153.00. Service transactions We are a party to a Service Agreement (as amended, the “Service Agreement”) with Longfellow, Viking Drilling LLC Riata Management, LLC MedOil Supply, LLC LFN Holdco, LLC Red Rock Minerals, LP Red Rock Minerals II, LP Red Rock Advisors, LLC Production Solutions International Limited NexLube Operating, LLC On June 13, 2012, we entered into separate master services agreements with each of Viking International, Viking Petrol Sahasi Hizmetleri AS (“VOS”) and Viking Geophysical in connection with the sale of our oilfield services business to a joint venture owned by Dalea and funds managed by Abraaj Investment Management Limited. Pursuant to the master services agreements with Viking International and VOS, we are entitled to receive certain oilfield services and materials, including, but not limited to, drilling rigs and fracture stimulation that are needed for our operations in Bulgaria and Turkey. Pursuant to the master services agreement with Viking Geophysical, we are also entitled to receive geophysical services and materials that are needed for our operations in those countries. Each master services agreement is for a five-year term, with automatic one-year extensions absent notice of termination from either party. Currently, we can contract for services and materials on a firm basis and, to the extent that we do not contract for all of their services or materials, Viking International, VOS and Viking Geophysical are allowed to contract with third parties for any remaining capacity. On March 3, 2016, Mr. Mitchell closed a transaction whereby he sold his interest in Viking Services to a third party. As part of the transaction, Mr. Mitchell acquired certain equipment used in the performance of stimulation, wireline, workover and similar services, which equipment is owned and operated by PSI. PSI is beneficially owned by Dalea Investment Group, LLC, which is controlled by Mr. Mitchell. Consequently, on March 3, 2016, TEMI entered into the PSI MSA on substantially similar terms to our prior master services agreements with Viking International, VOS and VGS. Pursuant to the PSI MSA, PSI will perform services on behalf of TEMI and its affiliates. On February 28, 2019, TEMI and PSI entered into an amendment (the “PSI MSA Amendment”) to the PSI MSA, pursuant to which PSI and TEMI agreed to extend the primary term of the PSI MSA to February 26, 2021, with automatic successive renewal terms of one (1) year each, unless terminated by PSI or TEMI by written notice at least sixty (60) days prior to the end of the primary term or any successive renewal term. The master services agreements with each of Viking International, VOS and Viking Geophysical currently remain in effect. For the years ended December 31, 2019 and 2018, we incurred capital and operating expenditures of $10.5 million and $10.6 million, respectively, related to our various related party agreements. The following table summarizes related party accounts receivable and accounts payable as of December 31, 2019 and December 31, 2018: 2019 2018 (in thousands) Related party accounts receivable: Service Agreement $ 433 $ 526 PSIL MSA 128 352 Total related party accounts receivable $ 561 $ 878 Related party accounts payable: Service Agreement $ 204 $ 372 PSIL MSA 3,959 2,439 Board of Directors 99 111 Total related party accounts payable $ 4,262 $ 2,922

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent events	17. Subsequent events On February 24, 2020, we sold the shares in our wholly-owned subsidiary Petrogas, which held the Edirne, Dogu Adatepe, Adatepe, and Gocerler production leases (the “Petrogas Leases”) and 14 employees, to Reform Ham Petrol Dogal Gaz Arama Uretim Sanayi ve Ticaret A.S. (“Reform”) in exchange for $1.5 million and a release of all plugging and abandonment obligations for 65 wells on the Petrogas Leases and certain former leases. During 2019, average production for the Petrogas Leases was approximately 500 Mcf/d or 83 Boepd. On March 9, 2020, we unwound our three-way collar contract with DenizBank, which hedged approximately 1,000 Bbl/d of our oil production in Turkey. The three-way collar contract had a Brent floor of $55.00, a Brent ceiling of $72.90, and a Brent long call of $80.00, and was in place through April 30, 2020. We also unwound our swap contract with Denizbank, which hedged approximately 1,000 Bbl/d of our oil production in Turkey. The swap contract had a Brent strike price of $60.30 and was in place through December 31, 2020. In connection with these transactions, we will receive approximately $6.5 million. We used these proceeds to pay down the 2019 Term Loan (as defined below), which left approximately $10.6 million outstanding under the 2019 Term Loan. Following these transactions, we do not have any commodity derivative contracts that hedge our oil price risk.

General (Policies)

General (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Nature of operations	Nature of operations TransAtlantic Petroleum Ltd. (together with its subsidiaries, “we,” “us,” “our,” the “Company” or “TransAtlantic”) is an international oil and natural gas company engaged in acquisition, exploration, development and production. We have focused our operations in countries that have established, yet underexplored petroleum systems, have stable governments, are net importers of petroleum, have an existing petroleum transportation infrastructure and provide favorable commodity pricing, royalty rates and tax rates to exploration and production companies. We hold interests in developed and undeveloped oil and natural gas properties in Turkey and Bulgaria. As of March 20, 2020, N. Malone Mitchell 3rd beneficially owned approximately 49.9% our outstanding common shares. Persons and entities associated with Mr. Mitchell also owned 739,000 of our 12.0% Series A Convertible Redeemable Preferred Shares (“Series A Preferred Shares”). Mr. Mitchell’s affiliates are currently prohibited from converting any of their Series A Preferred Shares to common shares if such conversion would cause Mr. Mitchell or his affiliates to obtain beneficial ownership in excess of 49.9% of the outstanding common shares; however, Mr. Mitchell, upon 61 days’ prior notice, may increase or decrease such percentage cap. TransAtlantic is a holding company with two operating segments – Turkey and Bulgaria. Its assets consist of its ownership interests in subsidiaries that primarily own assets in Turkey and Bulgaria.
Basis of presentation	Basis of presentation Our consolidated financial statements are expressed in U.S. Dollars and have been prepared by management in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). All amounts in these notes to the consolidated financial statements are in U.S. Dollars unless otherwise indicated. In preparing financial statements, management makes informed judgments and estimates that affect the reported amounts of assets and liabilities as of the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management reviews estimates, including those related to fair value measurements associated with acquisitions, stock based compensation and financial derivatives, collectability of accounts receivable, the recoverability and impairment of long-lived assets, contingencies and income taxes. Changes in facts and circumstances may result in revised estimates and actual results may differ from these estimates.
Basis of preparation	Basis of preparation Our reporting standard for the presentation of our consolidated financial statements is U.S. GAAP. The consolidated financial statements include the accounts of the Company and all majority-owned and controlled subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Accounts receivable, net	Accounts receivable, net We have receivables for sales of oil and natural gas, as well as receivables related to joint interest accounts, which have a contractual maturity of one year or less. An allowance for doubtful accounts has been established based on management’s review of the collectability of the receivables in light of historical experience, the nature and volume of the receivables and other subjective factors. Accounts receivable are charged against the allowance, upon approval by management, when they are deemed uncollectible. Our allowance for doubtful accounts was $0.1 million and $0.5 million at December 31, 2019 and 2018, respectively.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include term deposits and investments with original maturities of three months or less at the date of purchase. We consider all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. We determine the appropriate classification of our investments in cash and cash equivalents and marketable securities at the time of purchase and reevaluate such designation at each balance sheet date.
Derivative instruments	Derivative instruments Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging
Fair value measurements	Fair value measurements We follow ASC 820, Fair Value Measurements and Disclosures ASC 820 characterizes inputs used in determining fair value according to a hierarchy that prioritizes those inputs based upon the degree to which they are observable. The three levels of the fair value measurement hierarchy are as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Measured based on prices or valuation models that required inputs that are both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity). As required by ASC 820, financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values takes into account the market for our financial assets and liabilities, the associated credit risk and other factors as required by ASC 820. We consider active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis.
Foreign currency remeasurement and translation	Foreign currency remeasurement and translation The functional currency of our subsidiaries in Turkey and Bulgaria is the New Turkish Lira (“TRY”) and the Bulgarian Lev, respectively. We follow ASC 830, Foreign Currency Matters For certain subsidiaries, translation adjustments result from the process of translating the functional currency of subsidiary financial statements into the U.S. Dollar reporting currency. These translation adjustments are reported separately and accumulated in the consolidated balance sheets as a component of accumulated other comprehensive loss.
Oil and natural gas properties	Oil and natural gas properties In accordance with the successful efforts method of accounting for oil and natural gas properties, costs of productive wells, developmental dry holes and productive leases are capitalized into appropriate groups of properties based on geographical and geological similarities. Acquisition costs of proved properties are amortized using the unit-of-production method based on total proved reserves, and exploration well costs and additional development costs are amortized using the unit-of-production method based on proved developed reserves. Proceeds from the sale of properties are credited to property costs, and a gain or loss is recognized when a significant portion of an amortization base is sold or abandoned. Exploration costs, such as exploratory geological and geophysical costs, delay rentals and exploration overhead, are charged to expense as incurred. Exploratory drilling costs, including the cost of stratigraphic test wells, are initially capitalized but charged to exploration expense if and when the well is determined to be non-productive. The determination of an exploratory well’s ability to produce must be made within one year from the completion of drilling activities. The acquisition costs of unproved acreage are initially capitalized and are carried at cost, net of accumulated impairment provisions, until such leases are transferred to proved properties or charged to exploration expense as impairments of unproved properties.
Equipment and other property	Equipment and other property Equipment and other property are stated at cost, and inventory is stated at weighted average cost which does not exceed replacement cost. Depreciation is calculated using the straight-line method over the estimated useful lives (ranging from 3 to 7 years) of the respective assets. The costs of normal maintenance and repairs are charged to expense as incurred. Material expenditures that increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The cost of equipment sold, or otherwise disposed of, and the related accumulated depreciation, are removed from the accounts and any gain or loss is reflected in current earnings.
Impairment of long-lived assets	Impairment of long-lived assets We follow the provisions of ASC 360, Property, Plant, and Equipment Unproved oil and natural gas properties do not have producing properties and are valued on acquisition by management, with the assistance of an independent expert when necessary. As reserves are proved through the successful completion of exploratory wells, the cost is transferred to proved properties. The cost of the remaining unproved basis is periodically evaluated by management to assess whether the value of a property has diminished. To do this assessment, management considers (i) estimated potential reserves and future net revenues from an independent expert, (ii) our history in exploring the area, (iii) our future drilling plans per our capital drilling program prepared by our reservoir engineers and operations management and (iv) other factors associated with the area. Impairment is taken on the unproved property value if it is determined that the costs are not likely to be recoverable. The valuation is subjective and requires management to make estimates and assumptions which, with the passage of time, may prove to be materially different from actual results.
Joint interest activities	Joint interest activities Certain of our exploration, development and production activities are conducted jointly with other entities and, accordingly, the consolidated financial statements reflect only our proportionate interest in such activities.
Asset retirement obligations	Asset retirement obligations We recognize a liability for the fair value of all legal obligations associated with the retirement of tangible, long-lived assets and capitalize an equal amount as a cost of the asset. The cost associated with the abandonment obligation is included in the computation of depreciation, depletion and amortization. The liability accretes until we settle the obligation. We use a credit-adjusted risk-free interest rate in our calculation of asset retirement obligations.
Revenue recognition	Revenue recognition On January 1, 2018, we adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers We recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers Our revenue consists of sales under two contracts, one for crude oil and one for natural gas. The crude oil is delivered to the inlet of a processing center and control is passed through a custodian to the customer at that point. We are paid for crude oil at the inlet plus or minus an adjustment for quality. Our natural gas is metered at the inlet of a transportation pipeline and control is passed at that point. We record natural gas sales at the delivery point to the customer, net of any pricing differentials. There is no material inventory remaining at the end of each reporting period. We have previously deducted any transportation costs, processing fees, or adjustments from revenue and recorded the net amount. Under the new revenue guidance, on January 1, 2018, we now record the gross amount of the revenue and records any fees, or deductions as expenses. Our revenue excludes any amounts collected on behalf of third parties. During the years ended December 31, 2019 and 2018, we sold $65.8 million and $68.2 million, respectively, of oil to Türkiye Petrol Rafinerileri A.Ş. (“TUPRAS”), a privately-owned oil refinery in Turkey, which represented approximately 97.7%, and 96.4% of our total revenues, respectively.
Share-based compensation	Share-based compensation We follow ASC 718, Compensation—Stock Compensation
Series A Preferred Shares	Series A Preferred Shares On November 4, 2016, we issued 921,000 shares of 12.0% Series A Convertible Redeemable Preferred Shares (the “Series A Preferred Shares”). All of the Series A Preferred Shares were issued at a value of $50.00 per share. As the shares can be redeemed, they have been classified outside of equity (see Note 5 “Series A Preferred Shares”).
Income taxes	Income taxes We follow the asset and liability method prescribed by ASC 740, Income Taxes As of December 31, 2019 and 2018, we have recorded a $6.8 million and $6.7 million liability, respectively, primarily due to uncertain tax positions related to the unwinding of all of our crude oil hedge collars and three-way contracts, which are included in long-term accrued liabilities on our consolidated balance sheet. We do not believe there will be any material changes in our unrecognized tax positions over the next twelve months. Our policy is that we recognize interest and penalties accrued on any unrecognized tax positions as a component of income tax expense. We are a Bermuda exempted company, and under current Bermuda law, we are not subject to tax on profits, income or dividends, nor is there any capital gains tax applicable to us in Bermuda.
Comprehensive income	Comprehensive income We follow ASC 220, Comprehensive Income
Business combinations	Business combinations We follow ASC 805, Business Combinations Consolidation
Per share information	Per share information Basic per share amounts are calculated using the weighted average common shares outstanding during the year, excluding unvested restricted stock units. We use the treasury stock method to determine the dilutive effect of stock options and other dilutive instruments. Under the treasury stock method, only “in the money” dilutive instruments impact the diluted calculations in computing diluted earnings per share. Diluted calculations reflect the weighted average incremental common shares that would be issued upon exercise of dilutive options assuming the proceeds would be used to repurchase shares at average market prices for the period.
New accounting pronouncements	In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) In June 2018, the FASB issued ASU 2018-07, Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes We have reviewed other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on our consolidated results of operations, financial position and cash flows. Based on that review, we believe that none of these pronouncements will have a significant effect on current or future earnings or operations.

Series A Preferred Shares (Tabl

Series A Preferred Shares (Tables)	12 Months Ended
	Dec. 31, 2019
Temporary Equity Disclosure [Abstract]
Schedule of Redemption Prices	The redemption prices for the 12-month period starting on the date below are: Period Commencing Redemption Price November 4, 2020 105.000% November 4, 2021 103.000% November 4, 2022 101.000% November 4, 2023 and thereafter 100.000%

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Capitalized Costs under Successful Efforts Method for Oil and Natural Gas Properties	The following table sets forth the capitalized costs under the successful efforts method for oil and natural gas properties: 2019 2018 (in thousands) Oil and natural gas properties, proved: Turkey $ 167,446 $ 162,494 Bulgaria 502 512 Total oil and natural gas properties, proved 167,948 163,006 Oil and natural gas properties, unproved: Turkey 12,978 14,965 Bulgaria - 730 Total oil and natural gas properties, unproved 12,978 15,695 Gross oil and natural gas properties 180,926 178,701 Accumulated depletion (101,232 ) (100,582 ) Net oil and natural gas properties $ 79,694 $ 78,119
Historical Cost of Equipment and Other Property on Gross Basis with Accumulated Depreciation	The historical cost of equipment and other property, presented on a gross basis with accumulated depreciation, is summarized as follows: 2019 2018 (in thousands) Other equipment $ 1,121 $ 1,240 Land 132 149 Inventory 3,209 6,791 Gas gathering system and facilities 172 194 Vehicles 304 336 Leasehold improvements, office equipment and software 5,264 5,698 Gross equipment and other property 10,202 14,408 Accumulated depreciation (5,378 ) (5,268 ) Net equipment and other property $ 4,824 $ 9,140

Derivative instruments (Tables)

Derivative instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments of Future Crude Oil Production	At December 31, 2019, we had outstanding commodity derivative contracts with respect to our future crude oil production as set forth in the tables below: Fair Value of Derivative Instruments as of December 31, 2019 Derivative Contracts Weighted Weighted Average Average Minimum Maximum Additional Call Quantity Price Price Ceiling Estimated Fair Type Period (Bbl/day) (per Bbl) (per Bbl) (per Bbl) Value of Asset (Liability) (in thousands) Three-way collar January 1, 2020—April 30, 2020 1,000 $ 55.00 $ 72.90 $ 80.00 $ 21 Swap January 1, 2020—December 31, 2020 986 $ 60.30 (987 ) Total estimated fair value of liability $ (966 )
Summary of Gross Fair Value of Commodity Derivative Instruments by Balance Sheet Classification	The following table summarizes both: (i) the gross fair value of our commodity derivative instruments by the appropriate balance sheet classification even when the commodity derivative instruments are subject to netting arrangements and qualify for net presentation in our consolidated balance sheets at December 31, 2019, and (ii) the net recorded fair value as reflected on our consolidated balance sheets at December 31, 2019. At December 31, 2018, we did not have any commodity or foreign exchange derivative contracts. As of December 31, 2019 Gross Amount Net Amount of Gross Offset in the Liabilities Amount of Consolidated Presented in the Recognized Balance Consolidated Underlying Commodity Location on Balance Sheet Liabilities Sheet Balance Sheet (in thousands) Crude oil Current liabilities $ 987 $ (21 ) $ 966

Asset Retirement obligations (T

Asset Retirement obligations (Tables)	12 Months Ended
	Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Changes in Asset Retirement Obligations	The following table summarizes the changes in our ARO for the years ended December 31, 2019 and 2018: 2019 2018 (in thousands) Asset retirement obligations at beginning of period $ 4,667 $ 4,727 Foreign exchange change effect (519 ) (1,270 ) Additions 388 1,036 Accretion expense 213 174 Asset retirement obligations at end of period 4,749 4,667 Long-term portion $ 4,749 $ 4,667

Loans payable (Tables)

Loans payable (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	As of the dates indicated, our third-party debt consisted of the following: December 31, December 31, 2019 2018 Fixed and floating rate loans (in thousands) Term Loan (1) $ 20,000 $ 22,000 Loans payable 20,000 22,000 Less: current portion 17,143 22,000 Long-term portion $ 2,857 $ – _______________________________________________________________________________________________________________ (1) Includes 2019, 2018, 2017 and 2016 Term Loans.

Shareholders' equity (Tables)

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Restricted Stock Units Activity	Share-based compensation of approximately $0.4 million and $0.5 million Number of RSUs (in thousands) Weighted Average Grant Date Fair Value Per RSU Unvested RSUs outstanding at December 31, 2018 454 $ 1.42 Granted 767 0.77 Forfeited (4 ) 1.29 Vested (362 ) 1.42 Unvested RSUs outstanding at December 31, 2019 855 $ 0.84
Basic and Diluted Earnings Per Common Share Computations	The following table presents the basic and diluted earnings per common share computations: (in thousands, except per share amounts) 2019 2018 Net loss $ (5,366 ) $ (5,216 ) Basic net loss per common share: Shares: Weighted average common shares outstanding 55,134 50,505 Basic net loss per common share: $ (0.10 ) $ (0.10 ) Diluted net loss per common share: Shares: Weighted average common and common equivalent shares outstanding 55,134 50,505 Diluted net loss per common share: $ (0.10 ) $ (0.10 )

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Reconciliation of Bermuda Income Tax Expense to Actual Income Tax Expense	The income tax provision differs from the amount that would be obtained by applying the Bermuda statutory income tax rate of 0% for 2019 and 2018 to income (loss) from operations as follows: 2019 2018 (in thousands except rates) Statutory rate 0.00 % 0.00 % Income before income taxes $ 3,528 $ 4,458 Increase (decrease) resulting from: Foreign tax rate differentials $ 4,339 $ 4,720 Uncertain tax position 861 935 Unremitted earnings 1,387 2,927 Change in valuation allowance (3,127 ) (4,743 ) Expiration of non-capital tax loss carryovers 2,005 4,793 Other 3,429 1,042 Total $ 8,894 $ 9,674
Components of Net Deferred Income Tax Liability	The components of the net deferred income tax liability at December 31, 2019 and 2018 were as follows: 2019 2018 (in thousands) Deferred tax assets Property and equipment $ 299 $ 609 Timing of accruals 593 574 Non-capital loss carryovers 12,030 13,261 Valuation allowance (12,030 ) (13,261 ) Total deferred tax assets $ 892 $ 1,183 Deferred tax liabilities Property and equipment $ (12,524 ) $ (9,728 ) Unremitted earnings (9,690 ) (9,401 ) Timing of accruals (1,406 ) (2,368 ) Total deferred tax liabilities (23,620 ) (21,497 ) Net deferred tax liabilities $ (22,728 ) $ (20,314 ) Components of net deferred tax liabilities Non-current assets $ 892 $ 1,183 Non-current liabilities (23,620 ) (21,497 ) Net deferred tax liabilities $ (22,728 ) $ (20,314 )
Schedule of Unrecognized Tax Benefits	The unrecognized tax benefits at December 31, 2019 and 2018 were as follows: 2019 2018 (in thousands) Unrecognized tax benefits at beginning of period $ 6,714 $ 8,663 Gross increases - tax positions in prior period 861 935 Foreign exchange change effect (784 ) (2,884 ) Unrecognized tax benefits at end of period $ 6,791 $ 6,714

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Financial Information of Geographic Segments	In accordance with ASC 280, Segment Reporting Corporate Turkey Bulgaria Total (in thousands) For the year ended December 31, 2019 Total revenues $ – $ 67,380 $ – $ 67,380 Production – 11,513 161 11,674 Transportation costs – 5,101 – 5,101 Exploration, abandonment, and impairment – – 6,267 6,267 Seismic and other exploration – 330 – 330 General and administrative 5,373 6,274 138 11,785 Depreciation, depletion and amortization 132 13,095 – 13,227 Accretion of asset retirement obligations – 190 23 213 Total costs and expenses 5,505 36,503 6,589 48,597 Operating (loss) income (5,505 ) 30,877 (6,589 ) 18,783 Interest and other expense (8,450 ) (2,217 ) – (10,667 ) Interest and other income 419 528 – 947 Loss on commodity derivative contracts – (966 ) – (966 ) Foreign exchange gain (loss) 117 (4,626 ) (60 ) (4,569 ) (Loss) income before income taxes (13,419 ) 23,596 (6,649 ) 3,528 Income tax expense – (8,894 ) – (8,894 ) Net loss (income) $ (13,419 ) $ 14,702 $ (6,649 ) $ (5,366 ) Total assets at December 31, 2019 $ 7,810 $ 127,986 $ 708 $ 136,504 Capital expenditures for the year ended December 31, 2019 $ – $ 25,146 $ 5,537 $ 30,683 For the year ended December 31, 2018 Total revenues $ – $ 70,789 $ – $ 70,789 Production – 10,649 120 10,769 Transportation costs – 4,665 – 4,665 Exploration, abandonment, and impairment – 401 – 401 Seismic and other exploration – 488 1 489 General and administrative 9,222 5,344 153 14,719 Depreciation, depletion and amortization 142 13,917 – 14,059 Accretion of asset retirement obligations – 151 23 174 Total costs and expenses 9,364 35,615 297 45,276 Operating (loss) income (9,364 ) 35,174 (297 ) 25,513 Interest and other expense (7,026 ) (3,022 ) – (10,048 ) Interest and other income 184 897 1 1,082 Loss on commodity derivative contracts – (1,797 ) – (1,797 ) Foreign exchange loss (351 ) (9,932 ) (9 ) (10,292 ) (Loss) income before income taxes (16,557 ) 21,320 (305 ) 4,458 Income tax expense – (9,674 ) – (9,674 ) Net (loss) income $ (16,557 ) $ 11,646 $ (305 ) $ (5,216 ) Total assets at December 31, 2018 $ 8,358 $ 122,325 $ 1,917 $ 132,600 Capital expenditures for the year ended December 31, 2018 $ – $ 23,517 $ – $ 23,517

Financial instruments (Tables)

Financial instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Valuation of Financial Liabilities	The following table summarizes the valuation of our financial liabilities as of December 31, 2019: Fair Value Measurement Classification Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Liabilities Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (in thousands) Measured on a recurring basis Liabilities: Commodity derivative contracts $ – $ (966 ) $ – $ (966 ) Disclosed but not carried at fair value Liabilities: 2019 Term Loan – – (17,333 ) (17,333 ) Total $ – $ (966 ) $ (17,333 ) $ (18,299 ) Fair Value Measurement Classification Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Liabilities Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Total (in thousands) Disclosed but not carried at fair value Liabilities: 2017 Term Loan – – (11,938 ) (11,938 ) 2016 Term Loan – – (8,192 ) (8,192 ) Total $ – $ – $ (20,130 ) $ (20,130 )

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Operating Lease Costs	Operating lease costs were comprised of the following: December 31, 2019 (in thousands) Operations yards $ 584 Office rent 176 Vehicles 128 Other 82 Total lease costs $ 970
Schedule of Future Non-Cancelable Minimum Lease Payments Under Operating and Financing Lease	Future non-cancelable minimum lease payments under our operating and financing lease commitments as of December 31, 2019 were as follows for each of the next five years and thereafter: December 31, 2019 (in thousands) 2020 $ 960 2021 867 2022 867 2023 557 2024 200 Thereafter - Total $ 3,451 Less: Imputed interest 342 Present value of lease liabilities $ 3,109
Schedule of Future Non-Cancelable Minimum Lease Payments Under Operating Lease	Future non-cancelable minimum lease payments under our operating lease commitments as of December 31, 2018 were as follows for each of the next five years and thereafter: December 31, 2018 (in thousands) 2019 $ 963 2020 710 2021 636 2022 626 2023 316 Thereafter - Total $ 3,251

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Accounts Receivable and Accounts Payable	The following table summarizes related party accounts receivable and accounts payable as of December 31, 2019 and December 31, 2018: 2019 2018 (in thousands) Related party accounts receivable: Service Agreement $ 433 $ 526 PSIL MSA 128 352 Total related party accounts receivable $ 561 $ 878 Related party accounts payable: Service Agreement $ 204 $ 372 PSIL MSA 3,959 2,439 Board of Directors 99 111 Total related party accounts payable $ 4,262 $ 2,922

General - Additional Informatio

General - Additional Information (Detail)	Mar. 20, 2020shares	Nov. 04, 2016	Dec. 31, 2019Segment
Nature Of Business [Line Items]
Number of operating segments | Segment			2
Series A Preferred Shares [Member]
Nature Of Business [Line Items]
Preferred stock, dividend rate, percentage		12.00%
Subsequent Event [Member]
Nature Of Business [Line Items]
Percentage of common shares owned	49.90%
Subsequent Event [Member] | Series A Preferred Shares [Member]
Nature Of Business [Line Items]
Shares owned | shares	739,000
Preferred stock, dividend rate, percentage	12.00%

Going Concern - Additional Info

Going Concern - Additional Information (Detail) - USD ($)	Mar. 24, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
Going Concern [Line Items]
Net loss		$ 5,366,000	$ 5,216,000
Long-term debt		2,857,000
Short-term debt		17,143,000	22,000,000
Cash		9,664,000	$ 9,892,000	$ 9,900,000	$ 18,900,000
Working capital surplus		$ 2,000,000
Subsequent Event [Member]
Going Concern [Line Items]
Crude oil prices declined per barrel	$ 25

Significant Accounting Polici_2

Significant Accounting Policies - Additional information (Detail)	Nov. 04, 2016$ / sharesshares	Dec. 31, 2019USD ($)Contract	Dec. 31, 2018USD ($)
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts		$ 100,000	$ 500,000
Determination of exploratory well's ability to produce, term		1 year
Number of sales contracts consists revenue | Contract		2
Liability for Uncertain Tax Positions, Noncurrent		$ 6,800,000	6,700,000
Series A Preferred Shares [Member]
Significant Accounting Policies [Line Items]
Preferred shares, issued | shares	921,000
Preferred stock, dividend rate, percentage	12.00%
Preferred stock, shares issued value per share | $ / shares	$ 50
TUPRAS [Member]
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts		0
Oil and Natural Gas Sales [Member]
Significant Accounting Policies [Line Items]
Sales revenue, crude oil and natural gas		66,829,000	70,268,000
Oil and Natural Gas Sales [Member] | TUPRAS [Member]
Significant Accounting Policies [Line Items]
Sales revenue, crude oil and natural gas		$ 65,800,000	$ 68,200,000
Sales Revenue, Net [Member] | Revenue from Rights Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Concentration Risk, Percentage		97.70%	96.40%
Minimum [Member]
Significant Accounting Policies [Line Items]
Equipment and other property, estimated useful lives		3 years
Maximum [Member]
Significant Accounting Policies [Line Items]
Equipment and other property, estimated useful lives		7 years

New Accounting Pronouncements -

New Accounting Pronouncements - Additional Information (Detail) - Accounting Standards Update 2016-02 [Member] $ in Millions	Jan. 01, 2019USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease, right-of-use asset	$ 2.7
Operating lease, liability	$ 2.7

Series A Preferred Shares - Add

Series A Preferred Shares - Additional Information (Detail)	Jul. 02, 2019	Dec. 31, 2018USD ($)shares	Nov. 04, 2016USD ($)Director$ / sharesshares	Dec. 31, 2019USD ($)shares	Sep. 30, 2019	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Mar. 31, 2017shares
Redeemable Noncontrolling Interest [Line Items]
Preferred stock dividends paid | $						$ 1,400,000
Preferred stock accrued dividends | $						9,507,092
Series A Preferred Shares [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred shares, issued			921,000
Preferred stock, shares issued value per share | $ / shares			$ 50
Preferred shares, value | $		$ 21,300,000		$ 5,000,000		$ 5,000,000	$ 21,300,000
Convertible preferred stock, terms of conversion						each Series A Preferred Share may be converted at any time, at the option of the holder, into 45.754 common shares of the Company (which is equal to an initial conversion price of approximately $1.0928 per common share and is subject to customary adjustment for stock splits, stock dividends, recapitalizations or other fundamental changes).
Convertible preferred shares issued upon conversion			45.754
Conversion of stock, per share | $ / shares			$ 1.0928
Preferred stock redemption period end date			Nov. 4, 2024
Preferred stock redemption period start date			Nov. 4, 2020
Maximum closing sale price of common shares on conversion price			150.00%
Preferred stock, redemption description						At any time on or after November 4, 2020, we may redeem all or a portion of the Series A Preferred Shares at the redemption prices listed below (expressed as a percentage of the liquidation preference amount per share) plus accrued and unpaid dividends to the date of redemption, if the closing sale price of the common shares equals or exceeds 150% of the conversion price then in effect for at least 10 trading days (whether or not consecutive) in a period of 20 consecutive trading days, including the last trading day of such 20 trading day period, ending on, and including, the trading day immediately preceding the business day on which we issue a notice of optional redemption.
Change in control, offering redemption period			120 days
Preferred stock, dividend payment terms	Each common share was issued at a value of $0.7934 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on June 14, 2019.	Each common share was issued at a value of $1.0188 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on December 14, 2018.		Each common share was issued at a value of $0.4074 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on December 13, 2019.	Each common share was issued at a value of $0.6914 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on September 13, 2019.	Dividends on the Series A Preferred Shares are payable quarterly at our election in cash, common shares or a combination of cash and common shares at an annual dividend rate of 12.0% of the liquidation preference if paid all in cash or 16.0% of the liquidation preference if paid in common shares. If paid partially in cash and partially in common shares, the dividend rate on the cash portion is 12.0%, and the dividend rate on the common share portion is 16.0%.
Preferred stock, dividend rate, percentage			12.00%
Dividend payment description						Dividends are payable quarterly, on June 30, September 30, December 31, and March 31 of each year.
Preferred stock dividends paid | $							4,000,000
Preferred stock accrued dividends | $							$ 1,808,001
Preferred stock voting rights						no voting rights
Certificate of designation description						The Certificate of Designation also provides that without the approval of the holders of a majority of the outstanding Series A Preferred Shares, we will not issue indebtedness for money borrowed or other securities which are senior to the Series A Preferred Shares in excess of the greater of (i) $100 million or (ii) 35% of our PV-10 of proved reserves as disclosed in our most recent independent reserve report filed or furnished by us on EDGAR.
Maximum amount of indebtedness for borrowed money allowed under certificate of designation | $			$ 100,000,000
PV10 reserve value percentage			35.00%
Series A Preferred Shares [Member] | Maximum [Member]
Redeemable Noncontrolling Interest [Line Items]
Right to elect number of directors | Director			2
Series A Preferred Shares [Member] | Minimum [Member]
Redeemable Noncontrolling Interest [Line Items]
Right to elect number of directors | Director			1
Series A Preferred Shares [Member] | Two Director [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred shares, outstanding			400,000
Series A Preferred Shares [Member] | One Director [Member] | Maximum [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred shares, outstanding			80,000
Series A Preferred Shares [Member] | One Director [Member] | Minimum [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred shares, outstanding			399,999
Series A Preferred Shares [Member] | Dividend Paid in Cash [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred stock, dividend rate, percentage			12.00%
Series A Preferred Shares [Member] | Dividend Paid in Common Shares [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred stock, dividend rate, percentage			16.00%
Related Party [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred shares, issued								84,000
Related Party [Member] | Series A Preferred Shares [Member]
Redeemable Noncontrolling Interest [Line Items]
Preferred shares, issued		495,000		821,000		821,000	495,000
Preferred shares, value | $		$ 24,750,000		$ 41,050,000		$ 41,050,000	$ 24,750,000
Preferred shares, outstanding		495,000		821,000		821,000	495,000

Series A Preferred Shares - Sch

Series A Preferred Shares - Schedule of Redemption Prices (Detail) - Series A Preferred Shares [Member]	Nov. 04, 2016
Redeemable Noncontrolling Interest [Line Items]
November 4, 2020	105.00%
November 4, 2021	103.00%
November 4, 2022	101.00%
November 4, 2023 and thereafter	100.00%

Property and Equipment - Capita

Property and Equipment - Capitalized Costs under Successful Efforts Method for Oil and Natural Gas Properties (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Oil and natural gas properties, proved	$ 167,948	$ 163,006
Oil and natural gas properties, unproved	12,978	15,695
Gross oil and natural gas properties	180,926	178,701
Accumulated depletion	(101,232)	(100,582)
Net oil and natural gas properties	79,694	78,119
Turkey [Member]
Property Plant And Equipment [Line Items]
Oil and natural gas properties, proved	167,446	162,494
Oil and natural gas properties, unproved	12,978	14,965
Bulgaria [Member]
Property Plant And Equipment [Line Items]
Oil and natural gas properties, proved	$ 502	512
Oil and natural gas properties, unproved		$ 730

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Proved development wells excluded from depletion	$ 200	$ 200
Acquisition costs of proved properties	5,000	6,500
Well costs and additional development costs	63,800	53,400
Exploratory dry hole costs	6,300	300
Capitalized exploratory cost greater than one year	0	0
Inventory	7,091	5,167
Inventory [Member]
Property Plant And Equipment [Line Items]
Property plant and equipment excluded from depreciation	$ 10,300	$ 12,000

Property and Equipment - Histor

Property and Equipment - Historical Cost of Equipment and Other Property on Gross Basis with Accumulated Depreciation (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Gross equipment and other property	$ 10,202	$ 14,408
Accumulated depreciation	(5,378)	(5,268)
Net equipment and other property	4,824	9,140
Other equipment [Member]
Property Plant And Equipment [Line Items]
Gross equipment and other property	1,121	1,240
Land [Member]
Property Plant And Equipment [Line Items]
Gross equipment and other property	132	149
Inventory [Member]
Property Plant And Equipment [Line Items]
Gross equipment and other property	3,209	6,791
Gas gathering system and facilities [Member]
Property Plant And Equipment [Line Items]
Gross equipment and other property	172	194
Vehicles [Member]
Property Plant And Equipment [Line Items]
Gross equipment and other property	304	336
Leasehold improvements, office equipment and software [Member]
Property Plant And Equipment [Line Items]
Gross equipment and other property	$ 5,264	$ 5,698

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Instruments of Future Crude Oil Production (Detail) - Commodity Price [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / bbl$ / Callbbl
Derivatives Fair Value [Line Items]
Estimated Fair Value of Liability | $	$ (966)
Three-way Collar - January 1, 2020 - April 30, 2020 [Member]
Derivatives Fair Value [Line Items]
Quantity (Bbl/day) | bbl	1,000
Collars Weighted Average Minimum Price (per Bbl) | $ / bbl	55
Weighted Average Maximum Price (per Bbl) | $ / bbl	72.90
Additional Call Ceiling | $ / Call	80
Estimated Fair Value of Liability | $	$ 21
Swap - January 1, 2020 - December 31, 2020 [Member]
Derivatives Fair Value [Line Items]
Quantity (Bbl/day) | bbl	986
Collars Weighted Average Minimum Price (per Bbl) | $ / bbl	60.30
Estimated Fair Value of Liability | $	$ (987)

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Loss on derivative contracts	$ 966	$ 1,797

Derivative Instruments - Summar

Derivative Instruments - Summary of Gross Fair Value of Commodity Derivative Instruments by Balance Sheet Classification (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Derivatives Fair Value [Line Items]
Net Amount of Liabilities Presented in the Consolidated Balance Sheet, Current Liabilities	$ 966
Crude Oil [Member] | Current Liabilities [Member] | Commodity Price [Member]
Derivatives Fair Value [Line Items]
Gross Amount of Recognized Liabilities	987
Gross Amount Offset in the Consolidated Balance Sheet	(21)
Net Amount of Liabilities Presented in the Consolidated Balance Sheet, Current Liabilities	$ 966

Asset Retirement Obligations -

Asset Retirement Obligations - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Asset Retirement Obligations [Line Items]
Asset retirement obligation, net present value	$ 4,749	$ 4,667	$ 4,727
Asset retirement obligation, undiscounted value	$ 8,700
Turkey [Member]
Asset Retirement Obligations [Line Items]
Inflation rate per annum used to adjust asset retirement obligation	8.42%	12.65%
Turkey [Member] | Measurement Input, Discount Rate [Member]
Asset Retirement Obligations [Line Items]
Credit-adjusted risk-free rate used to discount asset retirement obligation	0.0755	0.0755

Asset Retirement Obligations _2

Asset Retirement Obligations - Changes in Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations at beginning of period	$ 4,667	$ 4,727
Foreign exchange change effect	(519)	(1,270)
Additions	388	1,036
Accretion expense	213	174
Asset retirement obligations at end of period	4,749	4,667
Long-term portion	$ 4,749	$ 4,667

Loans Payable - Debt (Detail)

Loans Payable - Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Loans payable	$ 20,000	$ 22,000
Less: current portion	17,143	22,000
Long-term portion	2,857
Term Loan [Member]
Debt Instrument [Line Items]
Loans payable	$ 20,000	$ 22,000

Loans Payable - Additional Info

Loans Payable - Additional Information (Detail) - USD ($)	Apr. 27, 2017	Dec. 31, 2019	Dec. 31, 2018	May 28, 2018	Nov. 17, 2017	Aug. 31, 2016
Line Of Credit Facility [Line Items]
Interest expense		$ 10,667,000	$ 10,048,000
Loans payable		20,000,000	22,000,000
Non-cash Facilities [Member] | DenizBank [Member]
Line Of Credit Facility [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity						$ 20,000,000
Loan Financing Costs [Member]
Line Of Credit Facility [Line Items]
Amortization of Deferred Loan Origination Fees, Net		$ 100,000	100,000
2016 TEMI Term Loan [Member]
Line Of Credit Facility [Line Items]
Debt instrument interest rate stated percentage		5.25%
Debt instrument interest rate basis for effective rate		The 2016 Term Loan bore interest at a fixed rate of 5.25% (plus 0.2625% for Banking and Insurance Transactions Tax per the Turkish government
Debt instrument payment terms		Payable in six monthly installments of $1.25 million each through February 2017 and thereafter in twelve monthly installments of $1.88 million each through February 2018
Amount of each installment payable through February 2017		$ 1,250,000
Amount of each installment payable through February 2018		$ 1,880,000
Line of credit facility, expiration date		Feb. 28, 2018
2016 TEMI Term Loan [Member] | Turkish Banking and Insurance Transactions Tax Rate [Member]
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate		0.2625%
2016 TEMI Term Loan [Member] | Credit Agreement [Member] | DenizBank [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, initiation date		Aug. 31, 2016
Line Of Credit Facility Maximum Borrowing Capacity						$ 30,000,000
Line of credit facility, expiration date	Jun. 30, 2018
Debt instrument, monthly payments	$ 1,380,000
2017 Term Loan [Member]
Line Of Credit Facility [Line Items]
Debt instrument interest rate stated percentage		6.00%
Debt instrument interest rate basis for effective rate		The 2017 Term Loan bore interest at a fixed rate of 6.0% (plus 0.3% for Banking and Insurance Transactions Tax per the Turkish government) per annum
Debt instrument payment terms		The 2017 Term Loan had a grace period which bore no interest or payments due until July 2018. Thereafter, the 2017 Term Loan was payable in one monthly installment of $1.38 million, nine monthly installments of $1.2 million each through April 2019 and thereafter in eight monthly installments of $1.0 million each through December 2019, with the exception of one monthly installment of $1.2 million occurring in October 2019
Line of credit facility, expiration date		Dec. 31, 2019
2017 Term Loan [Member] | Due until July 2018 [Member]
Line Of Credit Facility [Line Items]
Debt instrument interest rate stated percentage		0.00%
Debt instrument, principal installments		$ 0
2017 Term Loan [Member] | One Monthly Installment Payable through April 2019 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		1,380,000
2017 Term Loan [Member] | Nine Monthly Installments Payable through April 2019 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		1,200,000
2017 Term Loan [Member] | Eight Monthly Installments Payable through December 2019 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		1,000,000
2017 Term Loan [Member] | One Monthly Installment Occurring in October 2019 [Member]
Line Of Credit Facility [Line Items]
Amount of each installment payable occurring in October 2019		$ 1,200,000
2017 Term Loan [Member] | Turkish Banking and Insurance Transactions Tax Rate [Member]
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate		0.30%
2017 Term Loan [Member] | Credit Agreement [Member] | DenizBank [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, initiation date		Nov. 17, 2017
Line Of Credit Facility Maximum Borrowing Capacity					$ 20,400,000
2018 Term Loan [Member]
Line Of Credit Facility [Line Items]
Debt instrument interest rate stated percentage		7.25%
Debt instrument interest rate basis for effective rate		The 2018 Term Loan bore interest at a fixed rate of 7.25% (plus 0.3% for Banking and Insurance Transactions Tax per the Turkish government) per annum
Debt instrument payment terms		The 2018 Term Loan bore interest at a fixed rate of 7.25% (plus 0.3% for Banking and Insurance Transactions Tax per the Turkish government) per annum
Line of credit facility, expiration date		Dec. 31, 2019
2018 Term Loan [Member] | Due through July 2018 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		$ 0
2018 Term Loan [Member] | Five Monthly Installments Payable through December 2018 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		200,000
2018 Term Loan [Member] | Four Monthly Installments Payable through April 2019 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		500,000
2018 Term Loan [Member] | Four Monthly Installments Payable through August 2019 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		1,000,000
2018 Term Loan [Member] | Four Monthly Installments Payable through December 2019 [Member]
Line Of Credit Facility [Line Items]
Debt instrument, principal installments		$ 750,000
2018 Term Loan [Member] | Turkish Banking and Insurance Transactions Tax Rate [Member]
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate		0.30%
2018 Term Loan [Member] | Credit Agreement [Member] | DenizBank [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, initiation date		May 28, 2018
Line Of Credit Facility Maximum Borrowing Capacity				$ 10,000,000
2016, 2017, 2018 and 2019 Term Loan [Member]
Line Of Credit Facility [Line Items]
Interest expense		$ 2,200,000	1,800,000
Unsecured lines of credit [Member]
Line Of Credit Facility [Line Items]
Loans payable		$ 0	$ 0

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Jul. 02, 2019	Dec. 31, 2018	Aug. 13, 2015	Apr. 24, 2015	Dec. 31, 2014	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Aggregate number of common shares issued to preferred share holders as payment of dividend								9,507,092
Antidilutive securities excluded from computation of earnings per share amount								41,600,000	42,000,000
Common share purchase warrants issued			233,333	233,333	233,334
Common share purchase		1							1
Common share purchase warrants, exercise price			$ 2.99	$ 5.65	$ 5.99
Warrants [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Common share purchase		1							1
Restricted Stock Units [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Estimated forfeiture rate of RSUs								12.50%
Restricted stock unit, vesting period								4 years
Share-based compensation expense								$ 0.4	$ 0.5
Unrecognized compensation expense						$ 0.5		$ 0.5
Unrecognized compensation expense recognition period								1 year 1 month 6 days
Series A Preferred Shares [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Aggregate number of common shares issued to preferred share holders as payment of dividend	2,321,568	1,808,001				4,521,360	2,664,164		1,808,001
Common shares issued, price per share	$ 0.7934	$ 1.0188				$ 0.4074	$ 0.6914	$ 0.4074	$ 1.0188
Preferred stock, dividend payment terms	Each common share was issued at a value of $0.7934 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on June 14, 2019.	Each common share was issued at a value of $1.0188 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on December 14, 2018.				Each common share was issued at a value of $0.4074 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on December 13, 2019.	Each common share was issued at a value of $0.6914 per common share, which was equal to the 15-day volume weighted average price through the close of trading of the common shares on the NYSE American exchange on September 13, 2019.	Dividends on the Series A Preferred Shares are payable quarterly at our election in cash, common shares or a combination of cash and common shares at an annual dividend rate of 12.0% of the liquidation preference if paid all in cash or 16.0% of the liquidation preference if paid in common shares. If paid partially in cash and partially in common shares, the dividend rate on the cash portion is 12.0%, and the dividend rate on the common share portion is 16.0%.

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Unit Activity (Detail) - Restricted Stock Units [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs outstanding, beginning balance | shares	454
Granted | shares	767
Forfeited | shares	(4)
Vested | shares	(362)
Unvested RSUs outstanding, ending balance | shares	855
Unvested RSUs, weighted average grant date fair value Per RSU, beginning balance | $ / shares	$ 1.42
Granted, weighted average grant date fair value Per RSU | $ / shares	0.77
Forfeited, weighted average grant date fair value Per RSU | $ / shares	1.29
Vested, weighted average grant date fair value Per RSU | $ / shares	1.42
Unvested RSUs weighted average grant date fair value Per RSU, ending balance | $ / shares	$ 0.84

Shareholders' Equity - Basic an

Shareholders' Equity - Basic and Diluted Earnings Per Common Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Net loss	$ (5,366)	$ (5,216)
Weighted average common shares outstanding	55,134	50,505
Basic net loss per common share	$ (0.10)	$ (0.10)
Weighted average common and common equivalent shares outstanding	55,134	50,505
Diluted net loss per common share	$ (0.10)	$ (0.10)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Bermuda Income Tax Expense to Actual Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory rate	0.00%	0.00%
Income before income taxes	$ 3,528	$ 4,458
Increase (decrease) resulting from:
Foreign tax rate differentials	4,339	4,720
Uncertain tax position	861	935
Unremitted earnings	1,387	2,927
Change in valuation allowance	(3,127)	(4,743)
Expiration of non-capital tax loss carryovers	2,005	4,793
Other	3,429	1,042
Total	$ 8,894	$ 9,674

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Income Tax Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Property and equipment	$ 299	$ 609
Timing of accruals	593	574
Non-capital loss carryovers	12,030	13,261
Valuation allowance	(12,030)	(13,261)
Total deferred tax assets	892	1,183
Deferred tax liabilities
Property and equipment	(12,524)	(9,728)
Unremitted earnings	(9,690)	(9,401)
Timing of accruals	(1,406)	(2,368)
Total deferred tax liabilities	(23,620)	(21,497)
Net deferred tax liabilities	(22,728)	(20,314)
Components of net deferred tax liabilities
Non-current assets	892	1,183
Non-current liabilities	(23,620)	(21,497)
Net deferred tax liabilities	$ (22,728)	$ (20,314)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) ₺ in Millions, лв in Millions, in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019TRY (₺)	Dec. 31, 2018TRY (₺)	Dec. 31, 2015TRY (₺)	Dec. 31, 2019TRY (₺)	Dec. 31, 2019RON ( )	Dec. 31, 2019BGN (лв)	Dec. 31, 2018USD ($)
Income Tax [Line Items]
Valuation allowance	$ 12,030,000							$ 13,261,000
Liability for Uncertain Tax Positions, Noncurrent	6,800,000							$ 6,700,000
Unrecognized Tax Benefits, Period Increase (Decrease)	0
Turkish Foreign Subsidiaries [Member]
Income Tax [Line Items]
Withdrew reinvestment assertion | ₺				₺ 135.2
Dividend withholding taxes | ₺		₺ 383.7	₺ 329.7	₺ 135.2
Turkey [Member]
Income Tax [Line Items]
Non-capital tax losses	$ 1,200,000				₺ 7.1
Non-capital tax losses, expiration date	2020	2020
Romania [Member]
Income Tax [Line Items]
Non-capital tax losses	$ 400,000					1.6
Non-capital tax losses, expiration date	2020	2020
Bulgaria [Member]
Income Tax [Line Items]
Non-capital tax losses	$ 10,800,000						лв 18.9
Non-capital tax losses, expiration date	2020	2020
U.S [Member]
Income Tax [Line Items]
Non-capital tax losses	$ 50,600,000
Non-capital tax losses, expiration date	2020	2020

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Unrecognized tax benefits at beginning of period	$ 6,714	$ 8,663
Gross increases - tax positions in prior period	861	935
Foreign exchange change effect	(784)	(2,884)
Unrecognized tax benefits at end of period	$ 6,791	$ 6,714

Segment Information - Additiona

Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019Segment
Segment Reporting [Abstract]
Number of reportable geographic segments	2

Segment Information - Financial

Segment Information - Financial Information of Geographic Segments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 67,380	$ 70,789
Production	11,674	10,769
Exploration, abandonment and impairment	6,267	401
Seismic and other exploration	330	489
General and administrative	11,785	14,719
Depreciation, depletion and amortization	13,227	14,059
Accretion of asset retirement obligations	213	174
Total costs and expenses	48,597	45,276
Operating income	18,783	25,513
Interest and other expense	(10,667)	(10,048)
Interest and other income	947	1,082
Loss on commodity derivative contracts	(966)	(1,797)
Foreign exchange loss	(4,569)	(10,292)
Income before income taxes	3,528	4,458
Income tax expense	(8,894)	(9,674)
Net loss	(5,366)	(5,216)
Total assets	136,504	132,600
Capital expenditures	30,683	23,517
Transportation Costs [Member]
Segment Reporting Information [Line Items]
Cost of goods and services sold	5,101	4,665
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
General and administrative	5,373	9,222
Depreciation, depletion and amortization	132	142
Total costs and expenses	5,505	9,364
Operating income	(5,505)	(9,364)
Interest and other expense	(8,450)	(7,026)
Interest and other income	419	184
Foreign exchange loss	117	(351)
Income before income taxes	(13,419)	(16,557)
Net loss	(13,419)	(16,557)
Total assets	7,810	8,358
Operating Segments [Member] | Turkey [Member]
Segment Reporting Information [Line Items]
Total revenues	67,380	70,789
Production	11,513	10,649
Exploration, abandonment and impairment		401
Seismic and other exploration	330	488
General and administrative	6,274	5,344
Depreciation, depletion and amortization	13,095	13,917
Accretion of asset retirement obligations	190	151
Total costs and expenses	36,503	35,615
Operating income	30,877	35,174
Interest and other expense	(2,217)	(3,022)
Interest and other income	528	897
Loss on commodity derivative contracts	(966)	(1,797)
Foreign exchange loss	(4,626)	(9,932)
Income before income taxes	23,596	21,320
Income tax expense	(8,894)	(9,674)
Net loss	14,702	11,646
Total assets	127,986	122,325
Capital expenditures	25,146	23,517
Operating Segments [Member] | Turkey [Member] | Transportation Costs [Member]
Segment Reporting Information [Line Items]
Cost of goods and services sold	5,101	4,665
Operating Segments [Member] | Bulgaria [Member]
Segment Reporting Information [Line Items]
Production	161	120
Exploration, abandonment and impairment	6,267
Seismic and other exploration		1
General and administrative	138	153
Accretion of asset retirement obligations	23	23
Total costs and expenses	6,589	297
Operating income	(6,589)	(297)
Interest and other income		1
Foreign exchange loss	(60)	(9)
Income before income taxes	(6,649)	(305)
Net loss	(6,649)	(305)
Total assets	708	$ 1,917
Capital expenditures	$ 5,537

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) ₺ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)Institution	Dec. 31, 2019TRY (₺)	Dec. 31, 2018USD ($)	Dec. 31, 2018TRY (₺)
Financial Statement Line Items With Differences In Reported Amount And Reporting Currency Denominated Amounts [Line Items]
Currency risk descriptions	We have underlying foreign currency exchange rate exposure. Our currency exposures primarily relate to transactions denominated in the Bulgarian Lev, European Union Euro, and TRY. We are also subject to foreign currency exposures resulting from translating the functional currency of our subsidiary financial statements into the U.S. Dollar reporting currency. We have used foreign currency forward and swap contracts to manage exchange rate fluctuations. At December 31, 2019 and 2018, we had 28.6 million TRY and 7.8 million TRY, respectively (approximately $4.8 million and $1.5 million, respectively) in cash and cash equivalents, which exposes us to exchange rate risk based on fluctuations in the value of the TRY.
Allowance for doubtful accounts	$ 100,000		$ 500,000
Number of financial institutions | Institution	3
TUPRAS [Member]
Financial Statement Line Items With Differences In Reported Amount And Reporting Currency Denominated Amounts [Line Items]
Allowance for doubtful accounts	$ 0
Cash and cash equivalents [Member]
Financial Statement Line Items With Differences In Reported Amount And Reporting Currency Denominated Amounts [Line Items]
Cash and cash equivalents	$ 4,800,000	₺ 28.6	$ 1,500,000	₺ 7.8

Financial Instruments - Valuati

Financial Instruments - Valuation of Financial Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets (liabilities), fair value	$ (18,299)	$ (20,130)
Disclosed but not carried at fair value [Member] | 2019 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value	(17,333)
Disclosed but not carried at fair value [Member] | 2017 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value		(11,938)
Disclosed but not carried at fair value [Member] | 2016 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value		(8,192)
Measured on a recurring basis [Member] | Derivative Financial Instruments (commodity) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value	(966)
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets (liabilities), fair value	(966)
Significant Other Observable Inputs (Level 2) [Member] | Measured on a recurring basis [Member] | Derivative Financial Instruments (commodity) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value	(966)
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets (liabilities), fair value	(17,333)	(20,130)
Significant Unobservable Inputs (Level 3) [Member] | Disclosed but not carried at fair value [Member] | 2019 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value	$ (17,333)
Significant Unobservable Inputs (Level 3) [Member] | Disclosed but not carried at fair value [Member] | 2017 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value		(11,938)
Significant Unobservable Inputs (Level 3) [Member] | Disclosed but not carried at fair value [Member] | 2016 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities, fair value		$ (8,192)

Leases - Additional Information

Leases - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019
Lessee Lease Description [Line Items]
Operating and financing lease options to renew, cancel or purchase	some contain options to renew, cancel or purchase
Weighted average remaining lease term	3 years 6 months
Weighted average discount rate	7.60%
Minimum [Member]
Lessee Lease Description [Line Items]
Lease agreements, term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Lease agreements, term	5 years

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Costs (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Lessee Lease Description [Line Items]
Total lease costs	$ 970
Operations Yards [Member]
Lessee Lease Description [Line Items]
Total lease costs	584
Office Rent [Member]
Lessee Lease Description [Line Items]
Total lease costs	176
Vehicles [Member]
Lessee Lease Description [Line Items]
Total lease costs	128
Other [Member]
Lessee Lease Description [Line Items]
Total lease costs	$ 82

Leases - Schedule of Future Non

Leases - Schedule of Future Non-Cancelable Minimum Lease Payments Under Operating and Financing Lease (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 960
2021	867
2022	867
2023	557
2024	200
Total	3,451
Less: Imputed interest	342
Present value of lease liabilities	$ 3,109

Leases - Schedule of Future N_2

Leases - Schedule of Future Non-Cancelable Minimum Lease Payments Under Operating Lease (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 963
2020	710
2021	636
2022	626
2023	316
Total	$ 3,251

Contingencies - Additional Info

Contingencies - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2015	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2012
Loss Contingencies [Line Items]
General and administrative		$ 11,785,000	$ 14,719,000
Bulgaria [Member]
Loss Contingencies [Line Items]
Recovery of contractual obligations				$ 2,000,000
Liquidated damages, claim amount	$ 200,000
Bulgaria [Member] | Aglen Exploration Permit Work Program [Member]
Loss Contingencies [Line Items]
General and administrative				$ 2,000,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)

Jul. 02, 2019shares

Jun. 28, 2019USD ($)

Dec. 31, 2018USD ($)shares

Mar. 31, 2017USD ($)shares

Nov. 04, 2016USD ($)shares

Apr. 19, 2016USD ($)

Aug. 13, 2015$ / sharesshares

Apr. 24, 2015$ / sharesshares

Dec. 31, 2014$ / sharesshares

Dec. 31, 2019USD ($)shares

Jun. 30, 2023USD ($)

Dec. 31, 2018USD ($)NumberofParcelsofLandshares

Sep. 30, 2019shares

Dec. 31, 2022USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)shares

Dec. 31, 2018USD ($)shares

Dec. 31, 2014$ / sharesshares

Jun. 14, 2018ft²

Nov. 28, 2017USD ($)

Aug. 31, 2016USD ($)

Jun. 13, 2012USD ($)

Related Party Transaction [Line Items]

Common share purchase warrants issued | shares

233,333

233,333

233,334

Common share purchase | shares

1

1

1

Common share purchase warrants, exercise price | $ / shares

$ 2.99

$ 5.65

$ 5.99

$ 5.99

Common share purchase warrants issued, expiration period

Jan. 6, 2018

Aggregate number of common shares issued to preferred share holders as payment of dividend | shares

9,507,092

Note receivable - related party

$ 3,951,000

$ 3,951,000

$ 11,500,000

Capital and operating expenditures

10,500,000

$ 10,600,000

Dalea Promissory Note [Member]

Related Party Transaction [Line Items]

Debt instrument payment terms

(i) if paid in cash, will be credited first against the outstanding principal of the Note, and upon full repayment of the outstanding principal balance of the Note, any accrued and unpaid interest on the Note, and (ii) if paid other than in cash, will be paid to Dalea and, within five business days of such payment to Dalea, Dalea will pay $61,500 toward the principal and, upon full repayment of the outstanding principal of the Note, any accrued and unpaid interest on the Note.

Debt Instrument, principal payment

$ 61,500,000

Gundem Yard Lease [Member]

Related Party Transaction [Line Items]

Monthly rent

$ 8,500,000

$ 8,755,000

Lease commencements date

Jul. 1, 2018

Lease expiration date

Jun. 30, 2023

Number of parcels of land | NumberofParcelsofLand

4

Gundem Yard Lease [Member] | Forecast [Member]

Related Party Transaction [Line Items]

Monthly rent

$ 9,853,000

$ 9,566,000

$ 9,288,000

$ 9,017,000

Diyarbakir Yard Lease [Member]

Related Party Transaction [Line Items]

Monthly rent

$ 40,000,000

Lease commencements date

Jan. 1, 2018

Lease expiration date

Jun. 30, 2023

Diyarbakir Yard Lease [Member] | Forecast [Member]

Related Party Transaction [Line Items]

Monthly rent

$ 44,153,000

$ 43,076,000

$ 42,025,000

$ 41,000,000

Dalea [Member]

Related Party Transaction [Line Items]

Aggregate number of common shares issued to preferred share holders as payment of dividend | shares

6,710,071

Mitchell, and his Children [Member]

Related Party Transaction [Line Items]

Common share purchase warrants issued | shares

23,333

23,333

23,333

Mr. Mitchell [Member]

Related Party Transaction [Line Items]

Common share purchase warrants issued | shares

134,168

134,168

134,169

Randy Rochman [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

15,000

15,000

Jonathon Fite [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

69,000

69,000

Related Party [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

84,000

Proceeds from issuance of preferred stocks

$ 4,200,000

Joint Venture [Member] | Dalea and Funds [Member]

Related Party Transaction [Line Items]

Convertible preferred shares issued upon conversion | shares

40,000

Joint Venture [Member] | Promissory Note [Member] | Dalea and Funds [Member]

Related Party Transaction [Line Items]

Note receivable - related party

$ 7,964,053

Cancellation of purchase price in promissory note

$ 3,500,000

Debt instrument, maturity date

Jun. 13, 2019

Debt instrument interest rate stated percentage

3.00%

Interest income

$ 100,000

200,000

Promissory note, collateral amount

$ 2,000,000

Dalea Promissory Note [Member]

Related Party Transaction [Line Items]

Promissory notes default remedy period

30 days

Dalea Promissory Note [Member] | PSIL [Member]

Related Party Transaction [Line Items]

Noncontrolling equity voting interest percentage

50.00%

Gundem Fee Agreement [Member] | Gundem Real Estate [Member]

Related Party Transaction [Line Items]

Debt instrument interest rate stated percentage

5.00%

Promissory note, collateral amount

$ 10,000,000

Gundem Fee Agreement [Member] | Muratli Real Estate [Member]

Related Party Transaction [Line Items]

Debt instrument interest rate stated percentage

5.00%

Promissory note, collateral amount

$ 5,000,000

Diyarbakir Fee Agreement [Member] | Diyarbakir Real Estate [Member]

Related Party Transaction [Line Items]

Debt instrument interest rate stated percentage

5.00%

Promissory note, collateral amount

$ 5,000,000

Uras Fee Agreement [Member] | Ankara Real Estate [Member]

Related Party Transaction [Line Items]

Debt instrument interest rate stated percentage

5.00%

Promissory note, collateral amount

$ 5,200,000

Gundem Fee Agreement and the Diyarbakir Fee Agreement [Member]

Related Party Transaction [Line Items]

Decrease in principal amount of Amended Note

$ 600,000

600,000

Longfellow [Member] | TransAtlantic USA [Member]

Related Party Transaction [Line Items]

Office sub lease space | ft²

10,000

Office sub lease commencement date

Jun. 14, 2018

Office sub Lease Expiration Date

Jun. 30, 2020

Office sub lease monthly rent payable during first twelve months

$ 18,333,330

$ 18,333,330

Increase in office sub lease monthly rent payable from first year

$ 416,670

$ 416,670

Increase in office sub lease monthly rent payable, commencement date

Jun. 30, 2019

Increase in office sub lease monthly rent payable, expiration date

Jun. 30, 2021

Viking International Master Service Agreement [Member]

Related Party Transaction [Line Items]

Service agreement term

5 years

Service agreement automatic extension term

1 year

Amendment renewal term description

On February 28, 2019, TEMI and PSI entered into an amendment (the “PSI MSA Amendment”) to the PSI MSA, pursuant to which PSI and TEMI agreed to extend the primary term of the PSI MSA to February 26, 2021, with automatic successive renewal terms of one (1) year each, unless terminated by PSI or TEMI by written notice at least sixty (60) days prior to the end of the primary term or any successive renewal term

2017 Notes [Member] | Dalea and Funds [Member]

Related Party Transaction [Line Items]

Repayments of debt

$ 1,000,000

2017 Notes [Member] | Dalea and Funds [Member]

Related Party Transaction [Line Items]

Interest receivable

$ 5,800,000

$ 5,800,000

$ 5,800,000

Series A Preferred Shares [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

921,000

Convertible preferred shares issued upon conversion | shares

45.754

Aggregate number of common shares issued to preferred share holders as payment of dividend | shares

2,321,568

1,808,001

4,521,360

2,664,164

1,808,001

Series A Preferred Shares [Member] | Dalea [Member]

Related Party Transaction [Line Items]

Aggregate number of common shares issued to preferred share holders as payment of dividend | shares

971,724

Series A Preferred Shares [Member] | Related Party [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

495,000

821,000

495,000

821,000

495,000

Series A Preferred Shares [Member] | 2017 Notes [Member] | Private Placement Exchange Offer [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

815,000

Amount of notes exchanged

$ 40,750,000

Convertible preferred shares issued upon conversion | shares

20

Value of principal amount on conversion

$ 1,000,000

Series A Preferred Shares [Member] | 2017 Notes [Member] | Private Placement Exchange Offer [Member] | Pinon Foundation [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

200,000

Amount of notes exchanged

$ 10,000,000

Series A Preferred Shares [Member] | 2017 Notes [Member] | Private Placement Exchange Offer [Member] | Dalea [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

41,000

Amount of notes exchanged

$ 2,100,000

Series A Preferred Shares [Member] | 2017 Notes [Member] | Private Placement Exchange Offer [Member] | Mitchell, and his Children [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

40,000

Amount of notes exchanged

$ 2,000,000

Series A Preferred Shares [Member] | 2017 Notes [Member] | Private Placement [Member] | Pinon Foundation [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

5,000

Proceeds from issuance of preferred stocks

$ 250,000

Series A Preferred Shares [Member] | 2017 Notes [Member] | Private Placement [Member] | Mitchell, and his Children [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

1,000

Proceeds from issuance of preferred stocks

$ 50,000

Series A Preferred Shares [Member] | 2017 Notes [Member] | Private Placement [Member] | Certain Holders [Member]

Related Party Transaction [Line Items]

Preferred shares, issued | shares

106,000

Proceeds from issuance of preferred stocks

$ 5,300,000

Series A Preferred Stock [Member]

Related Party Transaction [Line Items]

Preferred Stock, Shares Issued | shares

328,000

328,000

Series A Preferred Stock [Member] | 2017 Notes [Member] | Dalea and Funds [Member]

Related Party Transaction [Line Items]

Repayments of debt

$ 200,000

Series A Preferred Stock [Member] | 2017 Notes [Member] | Dalea and Funds [Member]

Related Party Transaction [Line Items]

Interest receivable

$ 4,000,000

$ 4,000,000

Related Party Transactions - Re

Related Party Transactions - Related Party Accounts Receivable and Accounts Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Total related party accounts receivable	$ 561	$ 878
Total related party accounts payable	4,262	2,922
Service Agreement [Member]
Related Party Transaction [Line Items]
Total related party accounts receivable	433	526
Total related party accounts payable	204	372
PSIL MSA [Member]
Related Party Transaction [Line Items]
Total related party accounts receivable	128	352
Total related party accounts payable	3,959	2,439
Board of Directors [Member]
Related Party Transaction [Line Items]
Total related party accounts payable	$ 99	$ 111

Subsequent events - Additional

Subsequent events - Additional Information (Details) $ in Thousands	Mar. 09, 2020USD ($)$ / bbl$ / Callbbl	Feb. 24, 2020USD ($)EmployeeWell	Dec. 31, 2019USD ($)BoeMcf	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Shares sold in exchange, amount			$ 5,526	$ 1,841
Subsequent Event [Member] | DenizBank [Member]
Subsequent Event [Line Items]
Derivative, net proceeds	$ 6,500
Subsequent Event [Member] | 2019 Term Loan [Member] | DenizBank [Member]
Subsequent Event [Line Items]
Term loan outstanding	$ 10,600
Subsequent Event [Member] | Three-way Collar - October 1, 2019 - April 30, 2020 [Member] | DenizBank [Member]
Subsequent Event [Line Items]
Quantity (Bbl/day) | bbl	1,000
Brent floor price | $ / bbl	55
Brent, cap price | $ / bbl	72.90
Additional Call Ceiling | $ / Call	80
Subsequent Event [Member] | Swap - January 1, 2020 - December 31, 2020 [Member] | DenizBank [Member]
Subsequent Event [Line Items]
Quantity (Bbl/day) | bbl	1,000
Brent strike price | $ / bbl	60.30
Petrogas [Member]
Subsequent Event [Line Items]
Average production for Petrogas Leases volume per day | Mcf			500
Average production for Petrogas Leases barrels Of oil equivalents per day | Boe			83
Petrogas [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of wells in exchange for release of plugging and abandonment obligations | Well		65
Petrogas [Member] | Reform Reform Ham Petrol Dogal Gaz Arama Uretim Sanayi ve Ticaret A.S. [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of employees | Employee		14
Shares sold in exchange, amount		$ 1,500