Zargon Oil & Gas Ltd ZARFF

Energy Oil & Gas E&P

Zargon Oil & Gas Ltd is a producer of oil and gas. It is engaged in the exploration, development, and production of oil and natural gas in Canada and the United States. The company works on three phases of oil reservoir exploitation which include Primary recovery, Waterflood recovery, and Tertiary recovery. Its portfolio includes Alberta plains north, Alberta plains south and Williston basin projects.

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Zargon Oil & Gas Ltd > Q1 #'s are out - progress is being made!

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Comment by pablo87on Mar 24, 2020 5:30pm

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Post# 30843396

RE:RE:RE:RE:RE:RE:RE:Q1 #'s are out - progress is being made!

Rad10, I remember that - you were steadfast about voting NO. I waffled but in the end voted NO as well. Admittedly, I'm not sure how the abandoned wells would have been dealt with by the Receiver.

At current oil prices, I don't know but I wonder if Zargon could run out of money. They have not provided an update nor updated the presentation...North Dakota remains a good oil asset but there may not be any buyers for it presently. Somebody is still buying shares though - for 5 cents mind you or a $1.1M market cap......

Ironically, I bought some Torc shares the other day - figured there had to be upside in a company whose stock was trading for 42 cents a share that had been paying a 30 cent annual dividend until very recently (on the downside, Canada Pension Plan is a major investor). This is the company Zargon sold its last good oil asset to a few years ago in order to pay out the bank loan.

Take care,

Pablo

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