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Zargon Oil & Gas Ltd. Report on Voting from the 2014 Shareholders Meeting

CALGARY, ALBERTA -- (Marketwired) -- 05/15/14 -- (TSX:ZAR) (TSX:ZAR.DB) Zargon Oil & Gas Ltd. ("Zargon" or the "Corporation") announces that the following matters were voted upon at the annual meeting of the shareholders of Zargon held on May 15, 2014 in Calgary, Alberta. Each of the matters is described in greater detail in the Notice of Annual Meeting of Shareholders and Information Circular dated April 8, 2014 (the "Circular").

1. Election of Directors

By resolution passed via ballot, the following six 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:


                                                        Votes               
Name of Nominee               Votes For    Percent    Withheld     Percent  
----------------------------------------------------------------------------
Craig H. Hansen              10,257,682     99.06      96,975       0.94    
K. James Harrison            10,253,313     99.02      101,344      0.98    
Kyle D. Kitagawa             10,231,848     98.81      122,809      1.19    
Geoffrey C. Merritt          10,234,014     98.83      120,643      1.17    
Jim Peplinski                10,251,720     99.01      102,937      0.99    
Grant A. Zawalsky             8,202,561     79.22     2,152,096     20.78   

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               
  Votes For    Percent    Withheld     Percent  
------------------------------------------------
 11,335,559     98.03      228,101      1.97    

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.

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