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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... see more

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GREY:ZARFF - Post Discussion

Zargon Oil & Gas Ltd > CH buying!?

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Post by sherif1973 on Nov 20, 2019 8:32pm

CH buying!?

C.H. has been buying this recent dip. At least a little tiny bit of positive news in all of the doom and gloom.
WCS suffering again due to CN strike.

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Comment by trader059 on Nov 21, 2019 1:19am

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Comment by pablo87 on Nov 26, 2019 9:20pm

Reading between the lines of page 5 of the presentation I'm wondering if a "business combination" deal is in the works and part of the process is to get the 2/3 they need to get it done - I feel this is what happened with the debbies last year (that they canvassed the brokers and once they had the #s, went ahead) and also what I experienced with Blackpearl and what wasn't done ...more

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Comment by pablo87 on Nov 26, 2019 9:56pm

365,000 shares so far in November (I may have inadvertently sold him 1/3 of it) or 1.6% of O/S. Never did that in the recent past as far as I know. The intrinsic value of the company is at least $1.00 in my view ( I know I know I said that before) so....YMMV.

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Comment by rad10 on Dec 09, 2019 10:32am

Well good luck to CH. He certainly threw Deb holders under a bus. Interesting to see what deal he has up his sleeve. As the poster Rolling / resourceful / ilovemoney points out repeatedly - reclamation costs a big problem north of the border. All the best to you and yours Pablo

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Comment by pablo87 on Dec 09, 2019 7:07pm

Rad, we start to see a few transactions where there is significant ARO (ex Paramount asset sale to BNP). I do have faith CH will do his best but how much will be deducted for ARO by the buyer/merge partner is the big unknown. By the way, what do you think of Delphi notes (DEE.NT)? Trading at 65 cents, > 15% yield.

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Comment by rad10 on Dec 10, 2019 9:27am

Pablo I lost my taste for smallcap canadian O&G junk bond investing! With the pullback in preferred shares - you can get 7% on quality names like husky and bell canada. Quality life insurers are also yielding similar amounts - just watch out for the reset dates. I appreciate it is a secured note - but remember Zargon only had 30 million of unsecured debt and no senior ...more

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