Zargon Oil & Gas Ltd.

09:46 AM EST - Zargon Oil & Gas Ltd. : Has entered into an agreement to settle its $3.05-million U.S. term debt through the sale of its U.S. subsidiaries for nominal proceeds and the release of the Company from its obligations under the loan agreement. Zargon Oil & Gas Ltd. shares T.ZAR are trading unchanged at $0.06.