Zargon Oil & Gas Ltd T.ZAR

Primary Symbol: ZARFF

Energy Oil & Gas E&P

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 projects.

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Zargon Oil & Gas Ltd > Debenture conversion

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Comment by rad10on Dec 20, 2018 9:00am

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Post# 29139283

RE:RE:RE:Debenture conversion

yet another voice of reason funfacts! - thank you. We have some rookies and nubes on the board............ I voted no on 400K face value - that's like 1 % of the outstanding amount. Shares in lieu of interest only please.

funfacts2018 wrote:
My interests are not the shareholder's interests, not yet anyway.

"No quorum" isn't the answer at all. That just results in the meeting being reconvened later, and whoever is present in person or proxy is now quorum and the vote goes ahead. The answer is a "No" vote ...

Back in 2017, the company made the pitch that by extending the debenture maturity we would get a better deal. In retrospect, we'd have been better off forcing redemption then. So, I'm not buying the pitch that conversion will enhance share price and all will be well ("The market" seems to agree with me on the that, share price is consistently down since the announcement)

I'm happy having interest paid as it comes due in shares at 95% of share value. Then we'll see what ahppens to oil prices, share prices and all the other unknowns between now and next December.