Zargon Oil & Gas Ltd ZARFF

Market capitalization 48.1 million

[hawkowl1]

Outstanding shares at 5 cents equals 1.55 million equity valuation.
Add Debenture debt and U.S debt converted to Canadian dollars. 
Capitalization of $48.2 million
Based on 3rd quarter production of 1953 boe trades at $24,679 per flowing barrel.

Now what an amazing turn around in pricing with WCS comex strip looking good into March 2019.
With U.S loan Zargon can do a bit of drilling . With improved prices some natural gas can be brought on line. 

I still say the best option is to convert debentures in early 2019. 3rd quarter really pricing was brutal and company is on the ropes financially. They had to pay a loan shark rate to keep the lights on and get some money to at least maintain production. ..let alone paying interest on debentures in March. 
So assuming this goes through.. what do you think shares will trade at?
A few suggested equity could collapse to 2 cents..some said 1 cent.
Do you seriously believe that happening? Get real... at 2 cents and 460 million shares market capitalization including U.S loan would be 13.9 million . Not going to happen.
at 10 cents a share  market capitalization would be $50.7 million. 

Where can shares trade at with production increasing to 2200 boe,no debentures but only $4.7 million in debt
Also a potential buyer who never would consider a deal with debentures just might come to table early 2019 if debentures dissapear. 
A no vote would create huge uncertainty with lawyers gaining and shareholders gambling on getting a few extra crumbs.Not worth it. Especially in this energy environment with Trudeau out to destroy Alberta and not even hiding it anymore. 

Ideally I would love a liquiquidity event with a sale in early March and be done with this.
If life were like Visa..