Zargon Oil & Gas Renews Strategic Alternatives Process

Zargon Oil & Gas Ltd. is a Canada-based company, which is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in Canada and the United States. The Company's reserves are in Canada in the provinces of Alberta and Saskatchewan, and in the United States in North Dakota. Its Alberta Plains core area holds approximately 60% of its proved and probable oil and liquids reserves and provided over 50% of its oil and liquids production, primarily from the Taber South, Little Bow, Bellshill Lake and Killam Glauconite properties. The Company's Williston Basin core area encompasses a portion of southeast Saskatchewan and approximately three counties of North Dakota.