Zargon Oil & Gas Ltd.
TSX : ZAR
TSX : ZAR.DB

Zargon Oil & Gas Ltd.

May 30, 2016 17:01 ET

Zargon Oil & Gas Ltd. Report on Voting from the 2016 Shareholders Meeting

CALGARY, ALBERTA--(Marketwired - May 30, 2016) - (TSX:ZAR)(TSX:ZAR.DB) Zargon Oil & Gas Ltd. ("Zargon") announces that the following matters were voted upon at the annual meeting of the shareholders of Zargon held on May 30, 2016 in Calgary, Alberta.

1. Election of Directors

By resolution passed via ballot, the following seven nominees were appointed as directors of Zargon to serve until the next annual meeting of shareholders of Zargon, or until their successors are elected or appointed. The results of the ballot were as follows:

Name of Nominee Votes For Percent Votes Withheld Percent
Craig H. Hansen 8,316,282 96.44 % 307,124 3.56 %
K. James Harrison 8,314,354 96.42 % 309,052 3.58 %
Kyle D. Kitagawa 8,314,351 96.42 % 309,055 3.58 %
Geoffrey C. Merritt 8,315,457 96.43 % 307,949 3.57 %
Jim Peplinski 8,303,954 96.30 % 319,452 3.70 %
Ron Wigham 8,306,576 96.33 % 316,830 3.67 %
Grant A. Zawalsky 7,952,907 92.22 % 670,499 7.78 %

2. Appointment of Auditors

By resolution passed via ballot, Ernst & Young LLP, Chartered Professional Accountants, were appointed as auditors of Zargon to hold office until the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:

Votes For Percent Votes Withheld Percent
10,183,337 95.69% 458,162 4.31%

FURTHER INFORMATION

Zargon Oil & Gas Ltd. is a Calgary based oil and natural gas company working in the Western Canadian and Williston sedimentary basins and is focused on oil exploitation projects (waterfloods and tertiary ASP) that profitably increase oil production and recovery factors from existing oil reservoirs.

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 shareholder presentation, financial reports and historical news releases.

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