Cash Dividends

Current Dividend Information (Cdn $)

Current dividend amount
$0.10 per common share

Date payable
February 15, 2012

Ex-dividend date
January 27, 2012

Record date
January 31, 2012

Designation of Eligible Dividends for Canadian Tax Purposes

Effective January 1, 2011, Zargon Oil & Gas Ltd. hereby advises shareholders that, unless otherwise indicated, all dividends paid or to be paid on its common shares are designated as "eligible dividends" for Canadian income tax purposes.

Should you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.

Dividend History as Zargon Oil & Gas Ltd. (Corporation)

2012

Ex-Dividend Date	Record Date	Dividend Date	Per Common Share (Cdn $)

January 27, 2012	January 31, 2012	February 15, 2012	$0.10

2011

Ex-Dividend Date	Record Date	Dividend Date	Per Common Share (Cdn $)

December 28, 2011	December 31, 2011	January 16, 2012	$0.10
November 28, 2011	November 30, 2011	December 15, 2011	$0.10
October 27, 2011	October 31, 2011	November 15, 2011	$0.10
September 28, 2011	September 30, 2011	October 17, 2011	$0.14
August 29, 2011	August 31, 2011	September 15, 2011	$0.14
July 27, 2011	July 31, 2011	August 15, 2011	$0.14
June 28, 2011	June 30, 2011	July 15, 2011	$0.14
May 27, 2011	May 31, 2011	June 15, 2011	$0.14
April 27, 2011	April 30, 2011	May 16, 2011	$0.14
March 29, 2011	March 31, 2011	April 15, 2011	$0.14
February 24, 2011	February 28, 2011	March 15, 2011	$0.14
January 27, 2011	January 31, 2011	February 15, 2011	$0.14

Distribution History as Zargon Energy Trust (Trust)

2010

Ex-Distribution Date	Record Date	Distribution Date	Per Trust Unit (Cdn $)

December 29, 2010	December 31, 2010	January 17, 2011	$0.18
November 26, 2010	November 30, 2010	December 15, 2010	$0.18
October 27, 2010	October 31, 2010	November 15, 2010	$0.18
September 28, 2010	September 30, 2010	October 15, 2010	$0.18
August 27, 2010	August 31, 2010	September 15, 2010	$0.18
July 28, 2010	July 31, 2010	August 16, 2010	$0.18
June 28, 2010	June 30, 2010	July 15, 2010	$0.18
May 27, 2010	May 31, 2010	June 15, 2010	$0.18
April 28 , 2010	April 30, 2010	May 17, 2010	$0.18
March 29, 2010	March 31, 2010	April 15, 2010	$0.18
February 24, 2010	February 28, 2010	March 15, 2010	$0.18
January 27 , 2010	January 31, 2010	February 15, 2010	$0.18

2009

Ex-Distribution Date	Record Date	Distribution Date	Per Trust Unit (Cdn $)

December 29, 2009	December 31, 2009	January 15, 2010	$0.18
November 26, 2009	November 30, 2009	December 15, 2009	$0.18
October 28, 2009	October 31, 2009	November 16, 2009	$0.18
September 28, 2009	September 30, 2009	October 15, 2009	$0.18
August 27, 2009	August 31, 2009	September 15, 2009	$0.18
July 29, 2009	July 31, 2009	August 17, 2009	$0.18
June 26, 2009	June 30, 2009	July 15, 2009	$0.18
May 27, 2009	May 31, 2009	June 15, 2009	$0.18
April 28, 2009	April 30, 2009	May 15, 2009	$0.18
March 27, 2009	March 31, 2009	April 15, 2009	$0.18
February 25, 2009	February 28, 2009	March 16, 2009	$0.18
January 28, 2009	January 31, 2009	February 16, 2009	$0.18

2008

Ex-Distribution Date	Record Date	Distribution Date	Per Trust Unit (Cdn $)

December 29, 2008	December 31, 2008	January 15, 2009	$0.18
November 26, 2008	November 30, 2008	December 15, 2008	$0.18
October 29, 2008	October 31, 2008	November 17, 2008	$0.18
September 26, 2008	September 30, 2008	October 15, 2008	$0.18
August 27, 2008	August 31, 2008	September 15, 2008	$0.18
July 29, 2008	July 31, 2008	August 15, 2008	$0.18
June 26, 2008	June 30, 2008	July 15, 2008	$0.18
May 28, 2008	May 31, 2008	June 16, 2008	$0.18
April 28, 2008	April 30, 2008	May 15, 2008	$0.18
March 27, 2008	March 31, 2008	April 15, 2008	$0.18
February 27, 2008	February 29, 2008	March 17, 2008	$0.18
January 29, 2008	January 31, 2008	February 15, 2008	$0.18

2007

Ex-Distribution Date	Record Date	Distribution Date	Per Trust Unit (Cdn $)

December 27, 2007	December 31, 2007	January 15, 2008	$0.18
November 28, 2007	November 30, 2007	December 17, 2007	$0.18
October 29, 2007	October 31, 2007	November 15, 2007	$0.18
September 26, 2007	September 30, 2007	October 15, 2007	$0.18
August 29, 2007	August 31, 2007	September 17, 2007	$0.18
July 27, 2007	July 31, 2007	August 15, 2007	$0.18
June 27, 2007	June 30, 2007	July 16, 2007	$0.18
May 29, 2007	May 31, 2007	June 15, 2007	$0.18
April 26, 2007	April 30, 2007	May 15, 2007	$0.18
March 28, 2007	March 31, 2007	April 16, 2007	$0.18
February 26, 2007	February 28, 2007	March 15, 2007	$0.18
January 29, 2007	January 31, 2007	February 15, 2007	$0.18

2006

Ex-Distribution Date	Record Date	Distribution Date	Per Trust Unit (Cdn $)

December 27, 2006	December 31, 2006	January 15, 2007	$0.18
November 28, 2006	November 30, 2006	December 15, 2006	$0.18
October 27 , 2006	October 31, 2006	November 15, 2006	$0.18
September 27, 2006	September 30, 2006	October 16, 2006	$0.18
August 29 , 2006	August 31, 2006	September 15, 2006	$0.18
July 27, 2006	July 31, 2006	August 15, 2006	$0.18
June 28, 2006	June 30, 2006	July 17, 2006	$0.18
May 29, 2006	May 31, 2006	June 15, 2006	$0.18
April 26, 2006	April 30, 2006	May 15, 2006	$0.18
March 29, 2006	March 31 , 2006	April 17, 2006	$0.18
February 24, 2006	February 28, 2006	March 15, 2006	$0.18
January 27, 2006	January 31, 2006	February 15, 2006	$0.18

2005

Ex-Distribution Date	Record Date	Distribution Date	Per Trust Unit (Cdn $)

December 28, 2005	December 31, 2005	January 16, 2006	$0.68
November 28, 2005	November 30, 2005	December 15, 2005	$0.18
October 27, 2005	October 31, 2005	November 15, 2005	$0.16
September 28, 2005	September 30, 2005	October 17, 2005	$0.16
August 29, 2005	August 31, 2005	September 15, 2005	$0.16
July 27, 2005	July 31, 2005	August 15, 2005	$0.14
June 28, 2005	June 30, 2005	July 15, 2005	$0.14
May 27, 2005	May 31, 2005	June 15, 2005	$0.14
April 27, 2005	April 30, 2005	May 16, 2005	$0.14
March 29, 2005	March 31, 2005	April 15, 2005	$0.14
February 24, 2005	February 28, 2005	March 15, 2005	$0.14
January 27, 2005	January 31, 2005	February 15, 2005	$0.14

2004

Ex-Distribution Date	Record Date	Distribution Date	Per Trust Unit (Cdn $)

December 29, 2004	December 31, 2004	January 17, 2005	$0.14
November 26, 2004	November 30, 2004	December 15, 2004	$0.14
October 27, 2004	October 31, 2004	November 15, 2004	$0.14
September 28, 2004	September 30, 2004	October 15, 2004	$0.14
August 27, 2004	August 31, 2004	September 15, 2004	$0.14

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