Mundoro Capital said it will invest $1.5 million in 2017 to advance the exploration of the company's 100% owned projects in Bulgaria and Serbia. Mundoro also announced that its $300,000 exploration programme at the Borsko Jezero licence, funded by Japan Oil, Gas and Metals National Corporation (JOGMEC), has generated targets, where a drilling programme is expected to commence in the first half of 2017.