Last C$3.66 CAD
Change Today +0.05 / 1.39%
Volume 449.0
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As of 9:31 AM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

zargon oil & gas ltd (ZAR) Snapshot

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05/7/14 - C$9.90
52 Week Low
12/15/14 - C$3.01
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zargon oil & gas ltd (ZAR) Details

Zargon Oil & Gas Ltd. explores for, develops, and produces oil and natural gas in Canada and the United States. The company holds interest in the Williston Basin area; Alberta Plains South area; and Alberta Plains North area. As of December 31, 2013, it had proved and probable reserves of 27.69 million barrels of oil equivalent. The company was formerly known as Zargon Energy Trust and changed its name to Zargon Oil & Gas Ltd. in december 2010. Zargon Oil & Gas Ltd. was founded in 1987 and is headquartered in Calgary, Canada.

42 Employees
Last Reported Date: 03/11/14
Founded in 1987

zargon oil & gas ltd (ZAR) Top Compensated Officers

Co-Founder, Chief Executive Officer, Presiden...
Total Annual Compensation: C$331.3K
Vice President of Operations
Total Annual Compensation: C$237.4K
Vice President of Corporate Development
Total Annual Compensation: C$253.5K
Vice President of Enhanced Recovery
Total Annual Compensation: C$225.2K
Compensation as of Fiscal Year 2013.

zargon oil & gas ltd (ZAR) Key Developments

Zargon Oil & Gas Ltd. Reports Production Results for the Fourth Quarter Ended December 31, 2014; Reaffirms Production Guidance for Fiscal 2015

Zargon Oil & Gas Ltd. reported production results for the fourth quarter ended December 31, 2014. For the quarter, oil and liquid production volumes averaged 4,150 barrels per day and slightly exceeded guidance levels of 4,100 barrels per day. Natural gas production volumes averaged 6.43 million cubic feet per day and essentially matched guidance levels of 6.50 million cubic feet per day. The oil and liquid production volumes were positively impacted by the fourth quarter 2014 drilling program of three Williston Basin wells located at Steelman, Saskatchewan and Mackobee Coulee, North Dakota and two Alberta Plains South wells at Taber, Alberta. Fourth quarter 2014 production volumes were reduced by the mid-December sale of the Hamilton Lake property that had been producing approximately 170 barrels of oil per day and 1.40 million cubic feet per day (400 barrels of oil equivalent per day) to Zargon's interest. The company provided production guidance for the fiscal 2015. The company provided first quarter 2015 and year average 2015 conventional production (non-ASP) production guidance of 4,000 and 3,800 barrels of oil and liquids per day, respectively. ASP production was forecast to ramp up in 2015 by producing 100, 250, 500 and 750 in the successive 2015 quarters with an average rate of 400 barrels of oil per day during the year. Natural gas volumes were forecast to average 5.0 and 4.8 million cubic feet per day in the 2015 first quarter and 2015 year, respectively. These production guidance levels are reaffirmed.

Cazargon Oil & Gas Ltd Announces Monthly Cash Dividend for the Month of January 2015 Payable on February 17, 2015; Provides February and March Monthly Guidance Payable March 16, 2015 and April 15, 2015 Respectively

Zargon Oil & Gas Ltd. announced monthly cash dividend for the month of January in the amount of CAD 0.03 per common share will be paid on February 17, 2015 to shareholders of record on January 31, 2015. Zargon’s 2015 first quarter cash dividend to shareholders of CAD 0.03 per common share per month based on 2015 guidance. Cash dividend of CAD 0.03 per share for the month of February 2015 is payable March 16, 2015 to shareholders of record on February 28, 2015. Cash dividend of CAD 0.03 per share for the month of March 2015 is payable April 15, 2015 to shareholders of record on March 31, 2015.

Zargon Oil & Gas Ltd Plans to Reduce Monthly Dividend

Zargon Oil & Gas Ltd. announced that it is prudent to lower the monthly dividend to $0.03 per common share ($0.36 per common share annualized) beginning with the January 2015 dividend, payable in February 2015. This dividend reduction will result in $11 million of improved liquidity in 2015.


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