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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 > Post Mortem
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Comment by pablo87on Sep 14, 2020 12:57pm
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Post# 31553301

RE:RE:Post Mortem

RE:RE:Post MortemRad, 2 things I don't understand the scope of the abandonment liabilities and why in G's green earth would investors vote yes to converting the debentures. At that time we knew ZAR couldn't afford the debentures (which interest could have been waived) but we also knew the market would recover and it would be the best time to sell the assets like what happened with TBE instead of continuing to fund SG&a etc by depleting the reserves!. As an entity, they should have sold the US to at the least cover some abandonment, or vend in ND to debenture holders instead of distributing cash when they extended the debbies with the Dutch Auction. Only thing I can figure is like everybody else in the patch they thought oil prices would recover and the abandonment liabilities would take care of themselves!. They didn't and the rest is...
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