It looks like there is a strong possibility that a Bulgarian Grand Prix could be signed soon to start in 2011.
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en.f1-live.com]
It certainly seems like an interesting choice for a new country to join F1, and against the trend towards Asia and the Middle East. The country seems to have fairly little motorsport heritage, and they have never had an F1 driver, so it seems to be a brave move by the government to invest in this. They also have MotoGP and WRC rounds coming soon, so it looks like they are putting a big effort and investment into motorsport.
It could be a candidate to replace Turkey on the calendar, considering the very low crowds at Istanbul and the supposed lack of support from the authorities. With Russia's new 'Moscow Raceway' also scheduled to be finished in the next few years, we could have a couple of more races in Eastern Europe, putting more pressure on Turkey, and maybe even Hungary as well, within a calendar which seems to have more applicants than places.
From what i can find, there seems to be little known about the track other than it will probably be in the city of Pleven. Hopefully it will be a permanent track and hopefully they learn from some of the more recent designs such as Algarve.
X (@ed24f1)