Zargon Oil & Gas Ltd.

Zargon Oil & Gas Ltd.

May 16, 2011 12:10 ET

Zargon Oil & Gas Ltd. Confirms May 2011 Cash Dividend

CALGARY, ALBERTA--(Marketwire - May 16, 2011) - Zargon Oil & Gas Ltd. (TSX:ZAR) ("Zargon") confirms that the monthly cash dividend for the month of May in the amount of Cdn. $0.14 per common share will be paid on June 15, 2011 to shareholders of record on May 31, 2011. The ex-dividend date is May 27, 2011.

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 29.057 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 with a long history of earnings and distributions/dividends. Zargon's smaller size and technical focus provides a unique opportunity to deliver profitable oil exploitation results from smaller oil projects that may be overlooked by larger competitors.

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

    J.B. Dranchuk
    Vice President, Finance and Chief Financial Officer