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Press release from Marketwire

Zargon Oil & Gas Ltd. Report on Voting from the 2013 Shareholders Meeting

Wednesday, May 15, 2013

Zargon Oil & Gas Ltd. Report on Voting from the 2013 Shareholders Meeting

17:51 EDT Wednesday, May 15, 2013

CALGARY, ALBERTA--(Marketwired - May 15, 2013) - Zargon Oil & Gas Ltd. (TSX:ZAR) (TSX:ZAR.DB) ("Zargon") announces that the following matters were voted upon at the annual and special meeting of the shareholders of Zargon held on May 15, 2013 in Calgary, Alberta. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular dated April 12, 2013 (the "Circular").

1. Election of Directors

By resolution passed via ballot, the following seven nominees were appointed as Directors of the Corporation to serve until the next annual meeting of shareholders of the Corporation, or until their successors are elected or appointed. The results of the ballot were as follows:

Name of Nominee Votes For Percent Votes Withheld Percent
K. James Harrison 14,681,232 99.36 95,031 0.64
Craig H. Hansen 14,693,139 99.44 83,124 0.56
Kyle D. Kitagawa 14,655,108 99.18 121,155 0.82
Margaret A. McKenzie 14,431,546 97.67 344,717 2.33
Geoffrey C. Merritt 14,657,631 99.20 118,632 0.80
Jim Peplinski 14,686,930 99.40 89,333 0.60
Grant A. Zawalsky 11,836,500 80.10 2,939,763 19.90

2. Appointment of Auditors

By resolution passed via ballot, Ernst & Young LLP, Chartered Accountants, were appointed as auditors of the Corporation to hold office until close of the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:

Votes For Percent Votes Withheld Percent
15,628,996 99.40 93,926 0.60

3. Incentive Award Plan Amendments

By resolution passed via ballot, all unallocated common shares issuable upon the grant of share awards under our share award plan of the Corporation as described in the Circular was approved. The results of the ballot were as follows:

Votes For Percent Votes Against Percent
10,639,652 72.01 4,136,611 27.99

FURTHER INFORMATION

Zargon Oil & Gas Ltd. is a Calgary based oil and natural gas company working in the Western Canadian and Williston sedimentary basins that has delivered a long history of returns and dividends (distributions). Zargon's business is focused on oil exploitation projects that profitably increase oil production and recovery factors from existing oil reservoirs.

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:

Contact Information:
C.H. Hansen
President and Chief Executive Officer


J.B. Dranchuk
Vice President, Finance and Chief Financial Officer


Zargon Oil & Gas Ltd.
403-264-9992
zargon@zargon.ca
www.zargon.ca

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