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Press release from Marketwire

Zargon Energy Trust Closes Property Acquisition In Its Alberta Plains Core Area

Monday, May 31, 2010

Zargon Energy Trust Closes Property Acquisition In Its Alberta Plains Core Area18:14 EDT Monday, May 31, 2010CALGARY, ALBERTA--(Marketwire - May 31, 2010) - Zargon Energy Trust ("Zargon") (TSX:ZAR.UN) (TSX:ZOG.B) today closed the previously announced acquisition of working interests in various southern Alberta medium and heavy gravity oil pools with approximately 350 barrels of oil equivalent per day of existing production, along with approximately 6.9 thousand net acres of undeveloped land for a cash purchase price of approximately $25 million. The majority of these assets are either situated adjacent to or in the vicinity of Zargon's Little Bow property.ABOUT ZARGONBased in Calgary, Alberta, Zargon's securities trade on the Toronto Stock Exchange (TSX) and there are currently approximately 23.360 million trust units (ZAR.UN) and 1.699 million exchangeable shares (ZOG.B) outstanding. After giving effect to the conversion privilege of the exchangeable shares and the May 17, 2010 revised exchange ratio there would be a total of approximately 26.270 million trust units outstanding.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 unitholder presentation, financial reports and historical news releases.FOR FURTHER INFORMATION PLEASE CONTACT: Zargon Energy Trust Mr. C.H. Hansen President and Chief Executive Officer (403) 264-9992 or Mr. B.C. Heagy Executive Vice President and Chief Financial Officer (403) 264-9992 zargon@zargon.ca www.zargon.ca