ZARGON ENERGY TRUST
TSX : ZAR.UN

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

Zargon Oil & Gas Ltd.

February 28, 2008 19:09 ET

Zargon Energy Trust Provides an Operational Update and Releases 2007 Year End Reserves Information

CALGARY, ALBERTA--(Marketwire - Feb. 28, 2008) - Zargon Energy Trust (TSX:ZAR.UN) (TSX:ZOG.B) ("Zargon") is pleased to provide an operational update and release 2007 year end reserves information. Zargon is planning on releasing its 2007 financial results on March 11, 2008, after market close.

HIGHLIGHTS:

- Fourth quarter 2007 production averaged 8,790 barrels of oil equivalent per day, a three percent gain over the preceding quarter rate of 8,501 barrels of oil equivalent per day and a five percent increase over the prior year's fourth quarter rate of 8,366 barrels of oil equivalent per day. On a per million trust unit basis, the fourth quarter production was 445 barrels of oil equivalent per day, up from 432 and 431 barrels of oil equivalent per day in the third quarter of 2007 and the fourth quarter of 2006, respectively.

- Natural gas production for the fourth quarter of 2007 averaged 30.74 million cubic feet per day, a four percent gain over the preceding quarter rate of 29.48 million cubic feet per day and a 12 percent gain over the prior year's fourth quarter rate of 27.46 million cubic feet per day. These natural gas production increases came from the Alberta Plains Jarrow and Hamilton Lake summer development and exploration programs.

- Fourth quarter 2007 oil and liquids production averaged 3,666 barrels per day, a two percent gain over the preceding quarter rate of 3,588 barrels per day but a three percent decline from the prior year's fourth quarter rate of 3,789 barrels per day. Over the year, production additions at the Williston Basin properties and at Taber, Alberta have essentially offset production declines.

- For calendar 2007, production averaged 8,560 barrels of oil equivalent per day, a two percent gain over the prior year's average of 8,422 barrels of oil equivalent per day. On a per million trust unit basis, production averaged 436 barrels of oil equivalent per day in 2007, essentially unchanged from the 437 barrels of oil equivalent per day reported in 2006.

- In 2007, Zargon drilled 46.9 net wells with a 94 percent success ratio, yielding 32.7 net natural gas wells, 11.6 net oil wells and 2.6 net dry holes. Net exploration and development capital expenditures (unaudited) in 2007 were $65.40 million with $1.86 million of net property acquisitions and $63.54 million for exploration and development programs.

- Based on an independent reserves evaluation conducted by McDaniel & Associates Consultants Ltd. ("McDaniel"), effective December 31, 2007, Zargon had total proved reserves of 18.74 million barrels of oil equivalent and proved plus probable reserves of 26.91 million barrels of oil equivalent.

- In 2007, Zargon's net exploration and development capital program delivered 2.81 million barrels of oil equivalent of proved reserve additions (including revisions) and 2.57 million barrels of oil equivalent of proved and probable reserves (including revisions). These proved additions and proved and probable additions replaced approximately 90 percent and 82 percent of the year's production volumes.

- Proved year end reserves per trust unit declined three percent to 0.95 per barrel of oil equivalent per total unit compared to the prior year's amount of 0.98 per barrel of oil equivalent per total trust unit. Proved and probable year end reserves per trust unit also declined four percent to 1.36 per barrel of oil equivalent per total trust unit compared to the prior year's amount of 1.41 per barrel of oil equivalent per total trust unit.

- For the total proved reserve case, Zargon's 2007 capital program delivered an all in annual finding, development and acquisition ("FD&A") cost of $22.11 per barrel of oil equivalent including the consideration of changes in future development capital. Zargon's proved and probable FD&A costs were higher than the proved FD&A costs due to the conversion of Taber probable undeveloped reserves into the proved producing category and to negative probable reserve revisions relating to the Williston Basin Haas oil property. For the proved and probable reserve case, Zargon's 2007 capital program delivered an all in proved and probable FD&A cost of $26.53 per barrel of oil equivalent including the consideration of future development capital. The three-year average proved and probable FD&A costs (including future development costs) were $19.58 per barrel of oil equivalent. Excluding the change in future development costs, the 2007 proved and probable FD&A costs were $25.45 per barrel of oil equivalent and the three-year average was $18.00 per barrel of oil equivalent.

- Zargon's "produce-out" net asset value calculation at a before tax 10 percent discount rate and using forecast prices and costs was $23.07 per diluted trust unit. This estimate reflects the McDaniel estimate of Zargon properties' future cash flow plus the independent Seaton-Jordan & Associates Ltd. ("Seaton-Jordan") appraisal of Zargon's undeveloped land less an allowance for the year end bank debt and working capital deficiencies.

ACQUISITION OF RIVAL ENERGY LTD.:

On January 23, 2008, Zargon closed the acquisition of Rival Energy Ltd. ("Rival"). Since that date, Zargon has received a reserves evaluation conducted by GLJ Petroleum Consultants Ltd. ("GLJ") effective December 31, 2007 and prepared in accordance with National Instrument ("NI") 51-101 on the former Rival assets. The year end reserve estimate of Rival's proved and probable reserves was 2.42 million barrels of oil equivalent, 1.64 million barrels of oil equivalent proved reserves and 1.43 million barrels of oil equivalent proved producing reserves. These amounts compare to the amounts reported in the November 22, 2007 press release announcing the Rival acquisition of 2.08, 1.52 and 1.48 million barrels of oil equivalent, respectively as at August 31, 2007. This updated reserve report includes five Bellshill undeveloped locations but does not include a recent Morinville oil discovery or the significant high volume lift Bellshill Lake oil exploitation potential.



Rival Acquisition Reserves (1)

Oil and Liquids Natural Gas Equivalents (2)
At December 31, 2007 (mmbbl) (bcf) (mmboe)
----------------------------------------------------------------------------

Proved producing 0.78 3.79 1.43
Proved non-producing 0.05 0.01 0.05
Proved undeveloped 0.16 0.03 0.16
----------------------------------------------------------------------------

Total proved 0.99 3.83 1.64

Probable additional 0.49 1.65 0.78
----------------------------------------------------------------------------

Total proved and probable 1.48 5.48 2.42
----------------------------------------------------------------------------
----------------------------------------------------------------------------

1. Rival Energy Ltd. working interest reserves before royalties, boe (6:1).
2. Boes may be misleading, particularly if used in isolation. A boe
conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.


Based on an unaudited total transaction cost of $47.1 million, the FD&A costs (inclusive of changes in future capital) for the Rival acquisition are estimated at $29.80 per total proved barrels of oil equivalent and $20.83 per proved and probable barrels of oil equivalent. The "produce-out" net asset value calculation of the Rival assets, at a before tax 10 percent discount rate and using forecast prices and costs, totalled $50.3 million. This estimate reflects the GLJ estimate of the Rival properties' future cash flow of $48.0 million plus a Seaton-Jordan estimate of the value of Rival's 40 thousand net acres of undeveloped land. These reserves and values are not included in the Zargon 2007 year end reserve estimates as the Rival transaction was not completed until January 23, 2008.

OPERATIONAL UPDATE:(1)

Exploration and development fourth quarter 2007 capital expenditures were $18.01 million of which $10.11 million was allocated to a nine gross (9.0 net) well drilling program that resulted in six gross (6.0 net) oil wells, one gross (1.0 net) gas wells and two gross (2.0 net) dry holes. Of the oil wells, four were drilled in our Williston Basin core area with horizontal wells at the Mackobee and Truro, North Dakota and Elswick, Saskatchewan properties and a vertical oil well at Pinto, Saskatchewan. The remaining two oil wells were horizontal wells drilled at the Taber property in the Alberta Plains core area. In the West Central Alberta core area, three wells were drilled with a natural gas well at Pembina and dry holes at each of the Peace River Arch and Highvale properties.

During the first quarter of 2008, Zargon's drilling activities will be highlighted by a seven well Jarrow exploration drilling program (five drilled to date) and a Bellshill Lake oil exploration location in the Alberta Plains core area. For the Williston Basin core area, one Steelman horizontal well is currently planned. In the West Central Alberta core area, Zargon is focusing activity in the Peace River Arch and has drilled wells at Kakut and Hamelin Creek and is planning additional wells at Saddle Hills and Progress South. Also, in the first quarter of 2008, tie-ins of the five recently drilled wells at Jarrow and two wells drilled last year in the Peace River Arch of West Central Alberta will be completed, providing support for natural gas production volumes commencing in the second quarter of 2008.

GUIDANCE:(1)

In a November 2007 press release reporting third quarter results, the Trust forecast that fourth quarter 2007 production would average 8,625 barrels of oil equivalent per day. Actual production for the fourth quarter was 8,790 barrels of oil equivalent per day, two percent higher than guidance with natural gas production of 30.74 million cubic feet per day and an oil and liquids production rate of 3,666 barrels per day. During the quarter, successful natural gas drilling results and tie-ins in both the Alberta Plains and West Central Alberta core areas supported the growth in natural gas production. Oil and liquids production volumes were primarily supported in the fourth quarter by incremental volumes at Taber in the Alberta Plains core area.

In the January 23, 2008 press release announcing the completion of the Plan of Arrangement with Rival, Zargon confirmed its budgeted 2008 field capital program of $60 million allocated $29 million to the Alberta Plains, $17 million to the Williston Basin and $14 million to the West Central Alberta core areas. Further to a thorough year end review of Zargon's 2007 field capital program results, Zargon has reduced the 2008 field capital budget by $10 million to $50 million in order to encourage the economic tension required to improve our field capital program efficiencies. The revised field capital budget includes the drilling of 45 net wells and allocating $24 million to the Alberta Plains, $13 million to the Williston Basin and $13 million to the West Central Alberta core areas.

Reflecting a significantly improved corporate and property acquisition market, this additional $10 million of capital will be augmented with another $5 million and will be allocated to a currently undefined acquisitions budget. The revised capital budget (excluding the Rival acquisition) now totals $65 million and is comprised of $50 million for field capital and $15 million for acquisitions. As the timing of these proposed acquisitions are unknown, we are revising our 2008 production guidance from the previous target of 9,750 barrels of oil equivalent per day to a range of 9,500 to 9,800 barrels of oil equivalent per day with the variance in the range largely being dependent on the incremental production volumes being added through further acquisitions.

OUTLOOK:(1)

With a strong balance sheet, a large undeveloped land base and a promising project inventory that has recently been augmented by the January 2008 closing of the Rival acquisition, Zargon continues to be well positioned to meet its value-creating objectives in 2008. At this time, in late February 2008, pricing in commodity futures markets would indicate that Zargon's 2008 realized field oil and natural gas prices will exceed their respective 2007 averages. Furthermore, there is evidence that some of the upward pressures on the industry's input costs have been alleviated, allowing for improved capital program efficiencies for field activities and for property and corporate acquisitions.

Although changes to the Canadian income trust tax rules after 2010 and the Alberta government's October 25, 2007 royalty announcement have negatively impacted our industry, we are optimistic about Zargon's long term value-seeking strategy in this evolving business. Consistent with its history, Zargon will continue to adhere to a focused strategy of exploring and exploiting its existing asset base while executing accretive acquisitions, which will be funded by debt or equity issuances.

(1) Please see comments on "Forward-Looking Statements" on the last page of this report.

RESERVES:

Reserves included herein are stated on a company working interest basis (before royalty burdens) unless otherwise noted and do not include the aforementioned Rival reserves. All reserves information has been prepared in accordance with NI 51-101. This report contains several cautionary statements that are specifically required by NI 51-101. In addition to the detailed information disclosed in this press release, more detailed information will be included in Zargon's 2007 Annual Information Form to be filed on SEDAR in March 2008.

Based on an independent reserves evaluation conducted by McDaniel & Associates Consultants Ltd. ("McDaniel") effective December 31, 2007 and prepared in accordance with NI 51-101, Zargon had proved and probable reserves of 26.91 million barrels of oil equivalent. Reserve additions from exploration and development activities (including revisions) were 2.57 million barrels of oil equivalent.

Proved developed producing reserves represented 64 percent of proved and probable reserves (up from 60 percent in 2006) while total proved reserves account for 70 percent of proved and probable reserves. Approximately 58 percent of the proved and probable reserves are crude oil and liquids and 42 percent are natural gas on a barrel of oil equivalent basis.



Trust Reserves (1)

Oil and Liquids Natural Gas Equivalents (2)
At December 31, 2007 (mmbbl) (bcf) (mmboe)
----------------------------------------------------------------------------

Proved producing 11.04 36.80 17.17
Proved non-producing 0.07 6.75 1.20
Proved undeveloped 0.32 0.31 0.37
----------------------------------------------------------------------------

Total proved 11.43 43.86 18.74

Probable additional 4.25 23.50 8.17
----------------------------------------------------------------------------

Total proved and probable 15.68 67.36 26.91
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Proved producing reserve life
index, years 8.3 3.3 5.4
Proved reserve life index,
years 8.5 3.9 5.8
Proved and probable reserve
life index, years 11.7 6.0 8.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------

1. Trust working interest reserves before royalties, boe (6:1).
2. Boes may be misleading, particularly if used in isolation. A boe
conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.


A reconciliation of the 2007 year end reserve assignments with the reserves
reported in the 2006 year end report is presented below:

Reserve Reconciliation
----------------------------------------------------------------------------
Oil and Liquids (mmbbl) Natural Gas (bcf)
----------------------------------------------------------------------------
Proved Proved
Proved Probable & Prob. Proved Probable & Prob.
----------------------------------------------------------------------------

December 31, 2006 11.52 4.41 15.93 45.15 24.00 69.15
Discoveries and
extensions 0.84 0.40 1.24 4.55 3.34 7.89
Revisions 0.41 (0.56) (0.15) 4.86 (3.86) 1.00
Acquisitions and
dispositions - - - - 0.02 0.02
Production (1.34) - (1.34) (10.70) - (10.70)
----------------------------------------------------------------------------

December 31, 2007 11.43 4.25 15.68 43.86 23.50 67.36
----------------------------------------------------------------------------
----------------------------------------------------------------------------


----------------------------------------------------------------------------
Equivalents (mmboe)
----------------------------------------------------------------------------
Proved
Proved Probable & Prob.
----------------------------------------------------------------------------

December 31, 2006 19.05 8.41 27.46
Discoveries and extensions 1.59 0.96 2.55
Revisions 1.22 (1.20) 0.02
Acquisitions and dispositions - - -
Production (3.12) - (3.12)
----------------------------------------------------------------------------

December 31, 2007 18.74 8.17 26.91
----------------------------------------------------------------------------
----------------------------------------------------------------------------


FINDING, DEVELOPMENT AND ACQUISTION COSTS:

For 2007, Zargon's total proved finding, development and acquisition ("FD&A") costs, taking into account reserve revisions and changes in estimated future development capital during the period, were $22.11 per barrel of oil equivalent. For calculation purposes, the $65.40 million of 2007 net capital additions was combined with a decrease in estimated future development capital for total proved reserves of $3.27 million ($10.84 million at December 31, 2007 compared to $14.11 million at December 31, 2006). If the change in future development costs is excluded, the 2007 proved and probable FD&A costs, taking into account reserve revisions, were $23.27 per barrel of oil equivalent.

For 2007, Zargon's proved and probable FD&A costs, taking into account reserve revisions and changes in estimated future development capital during the period, were $26.53 per barrel of oil equivalent. For the purposes of this calculation, the $65.40 million of 2007 net capital additions was combined with an increase in estimated future development capital for proved and probable reserves of $2.79 million ($24.42 million at December 31, 2007 compared to $21.63 million at December 31, 2006). If the change in future development costs is excluded, the 2007 proved and probable FD&A costs, taking into account reserve revisions, were $25.45 per barrel of oil equivalent.



Proved and Probable Finding, Development and Acquisition Costs (1)

2007 2006 2005
----------------------------------------------------------------------------

Total net capital expenditures ($ million) 65.40 63.37 54.68
Total net capital expenditures plus change
in forecast future development costs ($ million) 68.19 76.85 54.46
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Proved and probable reserves (mmboe)
Open 27.46 26.77 25.95
Discoveries and extensions 2.55 4.29 3.76
Acquisitions and dispositions - (0.10) 0.12
Revisions 0.02 (0.43) (0.02)
Production (3.12) (3.07) (3.04)
----------------------------------------------------------------------------

Close 26.91 27.46 26.77
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Proved and probable FD&A costs ($/boe) (2) 26.53 20.44 14.11
Proved and probable three-year FD&A costs
($/boe) (2) 19.58 15.98 13.09
----------------------------------------------------------------------------
----------------------------------------------------------------------------

1. The aggregate of the exploration and development costs incurred in the
most recent financial year and the change during that year in estimated
future development costs generally will not reflect total finding and
development costs related to reserves additions for that year.
2. Amounts are calculated including the change in future development costs.


Zargon experienced higher FD&A costs in 2007 due to the combination of disappointing results from certain Alberta Plains natural gas development and exploration programs, negative proved and probable reserve adjustments of 0.33 million barrels of oil equivalent at the Williston Basin Haas, North Dakota property and increased costs for essentially all capital program field activities.



Capital Program Performance

Three-Year
Average
(2005
2007 2006 2005 -2007)
----------------------------------------------------------------------------

Total Capital Program (excluding
future development costs)
Proved and probable FD&A costs
($/boe) (1) 25.45 16.85 14.17 18.00

Total Capital Program (including
future development costs)
Proved and probable FD&A costs
($/boe) (1) 26.53 20.44 14.11 19.58
----------------------------------------------------------------------------
----------------------------------------------------------------------------

1. FD&A costs taking into account reserve revisions during the year on a
barrel of oil equivalent basis (6:1).


NET ASSET VALUE:

Zargon's oil, liquids and natural gas reserves were evaluated using McDaniel product price forecasts effective January 1, 2008, prior to provisions for income taxes, interest, debt service charges and general and administrative expenses. It should not be assumed that the following discounted future net property cash flows estimated by McDaniel represent the fair market value of the reserves:



Before Tax Present Value of Future Net Revenue
(Forecast Price Case)

Discount Factor
----------------------------------------------------------------------------
($ million) 0% 5% 10% 15%
----------------------------------------------------------------------------

Proved producing 486.0 393.4 332.2 290.0
Proved non-producing 27.0 22.6 19.4 17.0
Proved undeveloped 9.0 6.3 4.6 3.5
----------------------------------------------------------------------------

Total proved 522.0 422.3 356.2 310.5

Probable 263.5 162.7 113.9 86.3
----------------------------------------------------------------------------

Total proved and probable 785.5 585.0 470.1 396.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------


The above discounted future net property cash flows are based on the
McDaniel price assumptions that are contained in the following table:

McDaniel Report Pricing Assumptions
(Forecast Price Case)

WTI Crude Edmonton Cromer AECO Gas Exchange Inflation
Oil Par Price Medium Price Rate Rate
($US/bbl) ($Cdn/bbl) ($Cdn/bbl) ($Cdn/gj) ($US/$Cdn) (percent)
----------------------------------------------------------------------------

Forecast
Prices
2008 90.00 89.00 78.20 6.45 1.00 2.0
2009 86.70 85.70 75.30 7.00 1.00 2.0
2010 83.20 82.20 72.20 7.00 1.00 2.0
2011 79.60 78.50 69.00 7.00 1.00 2.0
2012 78.50 77.40 68.00 7.10 1.00 2.0
2013 77.30 76.20 66.90 7.30 1.00 2.0
2014 78.80 77.70 68.20 7.55 1.00 2.0
2015 80.40 79.30 69.60 7.80 1.00 2.0
2016 82.00 80.80 71.00 8.00 1.00 2.0
2017 83.70 82.50 72.50 8.25 1.00 2.0
2018 85.30 84.10 73.80 8.45 1.00 2.0
2019 87.00 85.80 75.30 8.70 1.00 2.0
2020 88.80 87.50 76.90 8.95 1.00 2.0
2021 90.60 89.30 78.40 9.20 1.00 2.0
2022 92.40 91.10 80.00 9.40 1.00 2.0
Thereafter: Escalate Escalate Escalate Escalate
at at at at
2.0%/year 2.0%/year 2.0%/year 2.0%/year 1.00 2.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------


The following net asset value table shows what is customarily referred to as a "produce-out" net asset value calculation under which the current value of Zargon's reserves would be produced at McDaniel forecast future prices and costs. The value is a snapshot in time as of December 31, 2007 and is based on various assumptions including commodity prices and foreign exchange rates that vary over time. In this analysis, the present value of the proved and probable reserves is calculated at a before tax 10 percent discount rate. In the net asset value calculation, Zargon's 356 thousand net acres of Canadian undeveloped land is valued by the independent firm of Seaton-Jordan at $42.9 million and Zargon's six thousand net acres of United States undeveloped land is internally valued at $0.3 million.



Net Asset Value

As at December 31 ($ million) 2007 2006 2005
----------------------------------------------------------------------------

Proved and probable reserves (PVBT 10%) (1) (2) 470.1 448.8 451.4
Undeveloped land (3) 43.2 43.6 41.7
Working capital (excluding unrealized risk
management assets and liabilities) (5.4) (9.8) (17.1)
Bank debt (56.9) (30.0) (10.3)
Proceeds from the exercise of all trust unit
rights 39.3 31.8 20.9
----------------------------------------------------------------------------

Net asset value (including trust unit rights
dilution) 490.3 484.4 486.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Net asset value per unit
Total ($/unit) 22.82 23.30 24.53
With full dilution ($/unit) (4) 23.07 23.48 24.45
----------------------------------------------------------------------------
----------------------------------------------------------------------------

1. McDaniel's estimate of future before tax cash flow discounted at PV 10
percent.
2. PVBT represents present value before taxes.
3. Seaton-Jordan year end estimates.
4. Full dilution of units represents the year end units outstanding plus the
presumed exercise of all trust unit rights and the conversion of
exchangeable shares converted at the exchange ratio at the end of the
year. At December 31, 2007, Zargon had 17.076 million trust units, 2.071
million exchangeable shares outstanding and 1.488 million trust unit
incentive rights issued and outstanding. Assuming conversion of
exchangeable shares at the effective exchange ratio at year end of
1.29611 and the exercise of all trust unit incentive rights, there would
be 21.249 million trust units outstanding at this date.


Forward-Looking Statements - This document contains statements that are forward-looking, such as those relating to results of operations and financial condition, general economic conditions, industry conditions, changes in regulatory and taxation regimes, volatility of commodity prices, escalation of operating and capital costs, currency fluctuations, the availability of services, imprecision of reserve estimates, geological, technical, drilling and processing problems, environmental risks, weather, the lack of availability of qualified personnel or management, stock market volatility, the ability to access sufficient capital from internal and external sources and competition from other industry participants for, among other things, capital, services, acquisitions of reserves, undeveloped lands and skilled personnel. By their nature, forward-looking statements are subject to numerous risks and uncertainties that could significantly affect anticipated results in the future and, accordingly actual results may differ materially from those predicted. The forward-looking statements contained in this document are as of February 28, 2008 and are subject to change after this date. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Zargon disclaims, except as required by law, any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Barrels of Oil Equivalent - Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Based in Calgary, Alberta, Zargon is a sustainable energy trust with oil and natural gas operations in Alberta, Saskatchewan, Manitoba and North Dakota. Zargon's securities trade on the Toronto Stock Exchange.

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 unitholder presentation, financial reports and historical news releases.

Contact Information

  • Zargon Energy Trust
    C.H. Hansen
    President and Chief Executive Officer
    (403) 264-9992
    or
    B.C. Heagy
    Executive Vice President and Chief Financial Officer
    (403) 264-9992
    Email: zargon@zargon.ca
    Website: www.zargon.ca