Zargon Oil & Gas Ltd ZARFF

concise capital

[rad10]

heavily underwaters - they now own more than 10% of this hound.

Good job to the debenture holders that voted for this arrangement..........

Bidders are just lining up....................

[pablo87]

Is it possible that assurances were given is the conversion is step 1 of a plan? Otherwise, why would folks agree to convert?

[rad10]

The arrangement was so absurd that I assumed there was a plan in place. (that had been kept quiet).  Had that been the case we should have already heard something by now..... The deafening silence implies the conversion was just another means to keep the lights on and the salaries paid.....................  If you look at the current value of insiders holdings relative to their salaries

[pablo87]

Its the only answer that makes sense and that supports the post conversion buying, the overwhelming yes on the conversion, putting North Dakota up for sale pre-vote but not disclosing same and hiring the Macquarie peddlers almost exactly 2 months before the year end results release date of March 14. Also, you have to wonder if there could be an industry credit crunch. Real estate is crashing and

[PetroExplorer]

An industry credit crunch, would force prices to go higher, to maintain the capital required to sustain production, solely out of cashflow.  The current industry is unsustainable, with these low commodity prices.  (Of course we've been saying that for four years now...) I feel more comfortable, with the emergence of this gorilla shareholder, Concise Capital.  They are in it to

[pablo87]

Good point.  The other factor now is the low LMR (partly because ND doesn't count) may cost us given the Supreme Court ruling on well abandonment.  In any event, the wheels are in motion something will hopefully go down in the next 30 days... get it over with!