ZARGON ENERGY TRUST
TSX : ZAR.UN

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

Zargon Oil & Gas Ltd.

March 16, 2005 15:27 ET

Zargon Energy Trust Confirms March 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

MARCH 16, 2005 - 15:27 ET

Zargon Energy Trust Confirms March 2005 Cash
Distribution

CALGARY, ALBERTA--(CCNMatthews - March 16, 2005) - Zargon Energy Trust
(TSX:ZAR.UN) ("Zargon") confirms that the monthly cash distribution for
the month of March in the amount of Cdn. $0.14 per trust unit will be
paid on April 15, 2005 to unitholders of record on March 31, 2005. The
ex-distribution date is March 29, 2005.

Based in Calgary, Alberta, Zargon's securities trade on the Toronto
Stock Exchange and there are currently 15.665 million trust units
(ZAR.UN) and 2.913 million exchangeable shares (ZOG.B) outstanding.
After giving effect to the conversion privilege of the exchangeable
shares and the March 15, 2005 revised exchange ratio there would be a
total of 18.703 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