BRIEF-Zargon Oil & Gas Ltd. Announces sale of zargon's Southeast Saskatchewan assets for $89.5 million

Mon Jul 25, 2016 6:05pm EDT
 
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July 25 (Reuters) - Zargon Oil & Gas Ltd

* Proceeds of transaction will initially be used to eliminate Zargon's bank debt

* Sees H2 2016 oil and liquids production 2,240 barrels per day

* Zargon Oil & Gas Ltd. Announces sale of Zargon's Southeast Saskatchewan assets for $89.5 million

* Strategic alternatives process is continuing

* Sees H2 2016 total production 2,750 barrels of oil equivalent per day Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)