Zargon Oil & Gas Ltd ZARFF

I will be voting yes to this proposal. Thinking of adding.

[hawkowl1]

I consider this the first major step towards selling the entire company. Everybody looking into making a deal with Zargon were simply not interested due to fact an all share deal for common and debentures was not possible.Debentures had to be paid out. 
. Who would have wanted to finance $42 million for retiring debentures.? 

With debentures converted this makes it now possible for any entity that might have been interested in Zargon to now take a second look and make a all share offer.
Zargons true potential should be evaluated at a production rate of 2500 boe. They can quickly get back up there with some drilling and reactivation pending better pricing and more stable natural gas prices. A lot of positives need to happen  of course . The worse is over IMO....U.S properties alone worth $25 million. So 18 cents per fully diluted share late 2019 or early 2020 is realistic. Notley will be gone in spring 2019. Hopefully Trudeau in October.2019. Then it will be a whole new ball game.

[rad10]

Absolutely agree that a deal needs to get done hawkoil - but why should the shareholders retain 6%.???  Lets push for the revised offer with stock now priced at 6.5 cents a share.    How successful have they been at marketing the assets over the last 2 years?  We may be better off in receivership especially as this differential cannot last.................  Selling the

[hawkowl1]

rad10  How successful have they been at marketing the assets over the last 2 years?  Deal breaker was always due to Debentures..  Do you really want to gamble on receivership...Seems risky to me.  Also expensive..lawyers will want a nice cut.  

[rad10]

Twin Butte............... Patience always pays Hawkoil. https://business.financialpost.com/news/fp-street/persistence-pays-off-for-principled-debenture-holders-at-twin-butte-energy

[pablo87]

Hawk, as you can see (I didn't see your post as I was typing mine), I agree with you.

[hawkowl1]

Great post Pablo! 

[rad10]

I respect both of your opinions Hawkoil / Pablo - but there will be a better offer if you hold out.  Let them sell a bunch of stock to satisfy the first interest payment in cash - then recalculate based on the new share price................... Craig is doing right by the shareholders - trying to retain some value.  He acted a couple of months earlier than I anticipated and I commend

[hawkowl1]

This deal will take a few days to digest. Decent volume today. Someone was prepared to step up. Will be watching market action over next 2 weeks for signs as to where this is headed.  Its also tax loss selling season so there could be some distortion in what will really happen. It was a disaster for common shareholders. I sold the balance of my common a few weeks ago at steep loss.  

[rad10]

Amen to that hawkoil - nothing more sickening than a trust fund socialist. this is an opening gambit - it won't pass. I am confident we can improve on these terms with cash interest payments and dilution near current market rate. Hilarious that the big pumper has lost his shirt on this one.

[Philbert77]

What is the point of pushing for more? Would we rather have more cash in the till so the company can actually survive? and what;s the point of pushing for a lower share price? Aren't we just gonna be dividing up the company anyways? how does a lower share price really do anything? all i see that is doing is giving existing shareholders a smaller piece of the pie...

[rad10]

Isn't maximizing recovery the whole point in these situations?  The debentureholders are for the most part underwater. Our position in the capital structure enables us to push for a better deal. I am confident that letting the debentures run their course collecting interest and redeeming for massively diluted stock - will prove better than the existing offer.  It is only a couple of