09:51 AM EST - Zargon Energy Trust : announced that it has entered into an Arrangement Agreement to purchase all outstanding common shares of Masters Energy Inc. Pursuant to the agreement, Masters shareholders will receive $1.83 in value for each Masters common share, comprising, at the election of each shareholder, cash or trust units of Zargon or a combination thereof, subject to proration such that 20 per cent of the total consideration will be paid in cash and 80 per cent of the total consideration will be paid in Zargon trust units. The proposed transaction is valued at about $41.4 million, including the assumption of approximately $13.2 million of net debt, inclusive of adjustments and transaction costs. Zargon Energy Trust
shares T.ZOG.B are trading even at $19.75.
