Zargon Oil & Gas Ltd ZARFF

RE:RE:ZAR's debentures, the equity deal and Rad10 alias

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Rad10, fact is that my average cost of FGE is now much lower than $5 and I expect to make a killing or a higher return than you may have done with your debentures if you bought many years back.

Getting back to Zargon, you were greedy plain and simple. This company needs all the help it can get and to stop paying 8% interest rate on its debentures is huge relief. Even companies with significantly lower costs and much higher netbacks such as CPG this morning had to make major adjustments for 2019.

This near elimination of interest paid will at least provide enough cash to allow production from declining further and preserve assets.

To hold on, force delays, push this to the end, to only extract a few percentage more of ownership while the company keeps on strugling is irrational and if you believe that I am dumb, then you should at least respect the very large majority of debentureholders who saw the same thing that I am trying to explain. Risk vs reward you know?

This company needs higher oil prices to be viable and nobody wants to buy it in this environment at least as a whole. It has effectively been for sale for ever and was trading for a huge discount and nobody even dared to make an offer for both the common with negligeable market cap and debs at a more reasonable discount to par. So you take the logic further and take this into receivership right now and it is near guaranteed that debs are not getting par in the auction.

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