Zargon Oil & Gas Ltd.

Zargon Oil & Gas Ltd.

May 17, 2010 17:15 ET

Zargon Energy Trust Confirms May 2010 Cash Distribution

CALGARY, ALBERTA--(Marketwire - May 17, 2010) - Zargon Energy Trust ("Zargon") (TSX:ZAR.UN) (TSX:ZOG.B) confirms that the monthly cash distribution for the month of May in the amount of Cdn. $0.18 per trust unit will be paid on June 15, 2010 to unitholders of record on May 31, 2010. The ex-distribution date is May 27, 2010.

On April 9, 2010, Zargon announced adoption of a Distribution Reinvestment Plan (the "DRIP"). Eligible unitholders may elect to participate in the DRIP. A complete copy of the DRIP is available on Zargon's website or by calling the Manager Income Trusts, Valiant Trust Company at (403) 233-2801.

Based in Calgary, Alberta, Zargon's securities trade on the Toronto Stock Exchange and there are currently 23.348 million trust units (ZAR.UN) and 1.699 million exchangeable shares (ZOG.B) outstanding. After giving effect to the conversion privilege of the exchangeable shares and the May 17, 2010 revised exchange ratio there would be a total of 26.258 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 shareholder presentation, financial reports and historical news releases.

Contact Information

  • Zargon Energy Trust
    C.H. Hansen
    President and Chief Executive Officer
    (403) 264-9992
    B.C. Heagy
    Executive Vice President and Chief Financial Officer
    (403) 264-9992