Zargon Oil & Gas Ltd ZARFF

So here it sits.

[ppp]

Whats next ?   Might be a trade here.  Most likely going to be merged around  50 cents.  

Hey oil better buy a few here I know you want to!!! LOL

[Cardboard1]

Mistake I made in getting into this at all is the size of decommissioning liabilities. I am not sure that a bid would be sufficient to pay it all off including the small U.S. loan. Valuations have totally fallen off a cliff. Moreover, the Supreme Court judgment about priority did not help at all. Then you combine this with a company that is barely free cash flow breakeven in a $50-60 environment

[ppp]

Your concerns are valid. My thnking is Joy will take these guys over.  Drop the G&A and you got 7 to 10 dollars a bbl CF. at todays prices. But this needs to be done soon, Having the CEO become a director is the first step. 

[pablo87]

The problem with the Supreme Court decision is that a buyer would almost certainly see their credit line REDUCED if they acquired Zargon's Canadian assets!  That's the part I missed. In this environment you need a low cost operator, def. Private to navigate the process. Sort of like buying a gas station for re-development. Most shy away because of environmental issues but some do