Atikwa Resources Inc. V.ATK

Another Manitoba Sale

[jenst11]

CALGARY, ALBERTA--(Marketwire - June 18, 2012) - Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") has closed its previously announced $36 million sale of 275 barrels of oil per day pertaining to all of its southwest Manitoba assets and selected properties in the Elswick area of southeast Saskatchewan. The proceeds from the transactions have been used to reduce bank indebtedness.

$36million for 275boe/d would be nice,beats closing at 3.5cents today. (I recall in Feb. ATK`s Production from Manitoba alone was 335boe/d)

I still believe this thing is undervalued, apparently one shareholder ran out of patience today.

 

I agree we need a update from managment stating which direction they are going to take.

[gogetem]

Don't hold your breath for an update. CEO to busy with other companies he's involved with or he's just kicking back enjoying his $178k. salary plus $100,000 bonus for what? Major shareholder dumping today, no insider buying for years and no financing or bank loan to take the company forward. Get out while you can!