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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 > CH buying!?
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Comment by rad10on Dec 10, 2019 9:27am
111 Views
Post# 30439006

RE:RE:RE:RE:CH buying!?

RE:RE:RE:RE:CH buying!?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 debt when the debentures were trading!

Cursory look:

105 million secure notes
64 million bank debt
7.4 million in outstanding letters of credit

EV - 180 million.

Is this post recent recapitalization?????

Ouch!


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