Zargon Oil & Gas Ltd.

Zargon Oil & Gas Ltd.

September 07, 2010 19:45 ET

Zargon Energy Trust Announces Management Changes

CALGARY, ALBERTA--(Marketwire - Sept. 7, 2010) - Zargon Energy Trust ("Zargon") (TSX:ZAR.UN) (TSX:ZOG.B) announced today that Brent C. Heagy, Executive Vice President and Chief Financial Officer has submitted his resignation, effective September 30, 2010, in order to pursue other career opportunities.

The Board of Directors of Zargon Oil & Gas Ltd. wishes to thank Mr. Heagy for his invaluable contribution to the corporation over the last six years and wishes him much success in his future endeavours. Mr. Heagy will be with the organization until the end of September in order to assist with a smooth transitioning of his responsibilities.

With this announcement, Craig Hansen, President and Chief Executive Officer, is pleased to announce the promotion of Jason B. Dranchuk from the position of Vice President, Finance and Controller to Vice President, Finance and Chief Financial Officer, effective October 1, 2010. Prior to joining Zargon in June 2002, Mr. Dranchuk was Controller for two major energy service companies as well as working with public accounting practices in Calgary and Saskatoon. Mr. Dranchuk graduated from the University of Saskatchewan with a bachelor of Commerce degree in 1993 and received his Certified Management Accountant designation in 1995 and his Chartered Accountant designation in 1997.


Based in Calgary, Alberta, Zargon's securities trade on the Toronto Stock Exchange and there are currently 23.425 million trust units (ZAR.UN) and 1.693 million exchangeable shares (ZOG.B) outstanding. After giving effect to the conversion privilege of the exchangeable shares and the August 16, 2010 revised exchange ratio there would be a total of 26.411 million trust units outstanding.

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

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