Zargon Oil & Gas Ltd 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.

GREY:ZARFF - Post by User

Zargon Oil & Gas Ltd > Voted NO

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Comment by Methodon Dec 25, 2018 10:13am

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Post# 29156311

RE:RE:RE:RE:RE:RE:Voted NO

1. They can choose option 1 but I doubt the trustee could find buyers for $2m dollars worth of stock (40m+ shares) so that is the point they would default on the convertible. This option is different from the PIK interest that rad is proposing.

2. The reason they chose 10 cents/share is because that was the market price at the time and it allows them to avoid a shareholder vote.

3. Not possible under the current debenture agreement.

4. No fairness opinion because it’s a straight debt for equity swap at fair market value at the time it was proposed. No need to waste the money on a fairness opinion.

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