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Press release from Marketwire

Zargon Oil & Gas Ltd. Confirms November 2011 Cash Dividend

Tuesday, November 15, 2011

Zargon Oil & Gas Ltd. Confirms November 2011 Cash Dividend17:01 EST Tuesday, November 15, 2011CALGARY, ALBERTA--(Marketwire - Nov. 15, 2011) - Zargon Oil & Gas Ltd. (TSX:ZAR) ("Zargon") confirms that the monthly cash dividend for the month of November in the amount of Cdn. $0.10 per common share will be paid on December 15, 2011 to shareholders of record on November 30, 2011. The ex-dividend date is November 28, 2011.Based in Calgary, Alberta, Zargon's securities trade on the Toronto Stock Exchange and there are currently 29.285 million common shares outstanding. Zargon Oil & Gas Ltd. is a Calgary based oil and natural gas company working in the Western Canadian and Williston sedimentary basins with a long history of earnings and distributions/dividends. Zargon's smaller size and technical focus provides a unique opportunity to deliver profitable oil exploitation results from smaller oil projects that may be overlooked by larger competitors. 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.FOR FURTHER INFORMATION PLEASE CONTACT: C.H. HansenZargon Oil & Gas Ltd.President and Chief Executive Officer403-264-9992ORVice President, Finance and Chief Financial OfficerJ.B. Dranchuk403-264-9992zargon@zargon.cawww.zargon.ca