Zargon Oil & Gas Ltd.

Zargon Oil & Gas Ltd.

April 16, 2012 17:01 ET

Zargon Oil & Gas Ltd. Confirms April 2012 Cash Dividend

CALGARY, ALBERTA--(Marketwire - April 16, 2012) - Zargon Oil & Gas Ltd. (TSX:ZAR) ("Zargon") confirms that the monthly cash dividend for the month of April in the amount of Cdn. $0.10 per common share will be paid on May 15, 2012 to shareholders of record on April 30, 2012. The ex-dividend date is April 26, 2012.

Unless otherwise indicated, all dividends paid by Zargon are "eligible dividends" for Canadian tax purposes.

Zargon has a Dividend Reinvestment Plan (the "DRIP") which allows eligible shareholders to reinvest their cash dividends in additional common shares which, when issued from treasury, will be issued at 95 percent of the "Average Market Price" (as defined in the DRIP) on the applicable dividend payment date. A complete copy of the DRIP is available on Zargon's website or by calling the Account Manager for Zargon at Valiant Trust Company at (403) 233-2801 or (866) 313-1872.

Based in Calgary, Alberta, Zargon's securities trade on the Toronto Stock Exchange and there are currently 29.473 million common shares outstanding.

Zargon Oil & Gas Ltd. is a Calgary based oil and natural gas company working in the Western Canadian and Williston sedimentary basins that has delivered a long history of returns, dividends (distributions) and value creation. Zargon's business is focused on oil exploitation projects where we employ a careful reservoir engineering inspired technical approach to profitably increase oil recovery factors from existing oil reservoirs.

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 Oil & Gas Ltd.
    C.H. Hansen
    President and Chief Executive Officer
    403-264-9992 or Toll Free: 1-855-464-9992

    J.B. Dranchuk
    Vice President, Finance and Chief Financial Officer
    403-264-9992 or Toll Free: 1-855-464-9992