ZARGON ENERGY TRUST
TSX : ZAR.UN

ZARGON ENERGY TRUST
Zargon Oil & Gas Ltd.
TSX : ZAR

Zargon Oil & Gas Ltd.

February 17, 2005 13:51 ET

Zargon Energy Trust Confirms February 2005 Cash Distribution


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ZARGON ENERGY TRUST

TSX SYMBOL: ZAR.UN

AND ZARGON OIL & GAS LTD.

TSX SYMBOL: ZOG.B

FEBRUARY 17, 2005 - 13:51 ET

Zargon Energy Trust Confirms February 2005 Cash
Distribution

CALGARY, ALBERTA--(CCNMatthews - Feb. 17, 2005) - Zargon Energy Trust
("Zargon") (TSX:ZAR.UN) confirms that the monthly cash distribution for
the month of February in the amount of Cdn. $0.14 per trust unit will be
paid on March 15, 2005 to unitholders of record on February 28, 2005.
The ex-distribution date is February 24, 2005.

Based in Calgary, Alberta, Zargon's securities trade on the Toronto
Stock Exchange and there are currently 15.619 million trust units
(ZAR.UN) and 2.958 million exchangeable shares (ZOG.B) outstanding.
After giving effect to the conversion privilege of the exchangeable
shares and the February 15, 2005 revised exchange ratio there would be a
total of 18.687 million trust units outstanding.

In order to learn more about Zargon, we encourage you to visit Zargon's
website at www.zargon.ca where you will find a current shareholder
presentation, financial reports and historical news releases.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Zargon Energy Trust
    C.H. Hansen
    President and Chief Executive Officer
    or
    B.C. Heagy
    Vice President, Finance and Chief Financial Officer
    Phone: (403) 264-9992
    E-mail: zargon@zargon.ca
    Website: www.zargon.ca