ASP Transatlantic Mining Corporation

Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") is pleased to announce
that Zargon's Little Bow Alkaline Surfactant Polymer ("ASP") enhanced oil
recovery project has been commissioned and ASP injection into the reservoir has
commenced. 


The total cost to complete the project was approximately $50 million which is
roughly consistent with our November 2012 press release that projected a $47
million project cost and a December 2013 on injection date. 


The completion of construction of the ASP facility and the commissioning of the
Little Bow ASP project is a key milestone for Zargon. We are especially pleased
with the performance of our E.P.C.M. (Engineering, Procurement, Construction
Management) services provider, Wood Group Mustang, and our construction team,
Strike Energy Services Inc. The facility construction portion of this project
entailed more than 60,000 man hours of mechanical and electrical field work and
was completed with an impressive safety record of zero Lost Time Accidents.


The Little Bow ASP project entails the injection of large volumes of dilute
chemical solution into a partially depleted oil reservoir to recover incremental
oil reserves. Phase 1 of the Little Bow ASP project is expected to provide 100
barrels of oil per day of incremental production in 2014, which will be
comprised of an initial production response in the 2014 third quarter and a 2014
year end rate of 350 barrels of oil per day. Incremental production is expected
to exceed 900 barrels of oil per day in 2015 and then increase to 1,550 barrels
of oil per day in 2016, once phase 2 production begins. For further information
regarding the Little Bow ASP project, please refer to the company's corporate
presentation, which is available at www.zargon.ca.


With the Little Bow ASP project now fully operational, Zargon will continue to
pursue property dispositions that improve our profitability and operational
focus by disposing primarily natural gas, non-strategic properties. Over time,
Zargon anticipates that these dispositions will enable Zargon to realize a
lower-cost, higher-netback structure through a disciplined focus on a growing
tertiary ASP oil recovery business and the stable production volumes coming from
the measured exploitation of five conventional long-life low-decline core oil
properties. For further information regarding the available property disposition
packages, please refer to the company's website at www.zargon.ca.


Based in Calgary, Alberta, Zargon's securities trade on the Toronto Stock
Exchange and there are currently 30.119 million common shares outstanding.


FORWARD-LOOKING STATEMENTS

This press release offers our assessment of Zargon's future plans and operations
as at March 26, 2014, and contains forward-looking statements. All statements
other than statements of historical fact may be forward-looking statements. Such
statements are generally identified by the use of words such as "anticipate",
"continue", "estimate", "expect", "forecast", "may", "will", "project",
"should", "plan", "intend", "believe" and similar expressions (including the
negatives thereof). In particular, this press release contains forward-looking
statements pertaining to the following:




--  our business plans and strategy; 
    
--  projections of ASP production; and 
    
--  the potential sale of non-strategic properties. 



By their nature, forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond our control, including such as those
relating to results of operations and financial condition, general economic
conditions, industry conditions, changes in regulatory and taxation regimes,
volatility of commodity prices, escalation of operating and capital costs,
currency fluctuations, the availability of services, imprecision of reserve
estimates, geological, technical, drilling and processing problems,
environmental risks, weather, the lack of availability of qualified personnel or
management, stock market volatility, the ability to access sufficient capital
from internal and external sources and competition from other industry
participants for, among other things, capital, services, acquisitions of
reserves, undeveloped lands and skilled personnel. Risks are described in more
detail in our Annual Information Form, which is available on our website and at
www.sedar.com. 


Forward-looking statements are provided to allow investors to have a greater
understanding of our business. You are cautioned that the assumptions, including
among other things, future oil and natural gas prices; future capital
expenditure levels; future production levels; future exchange rates; the cost of
developing and expanding our assets; our ability to obtain equipment in a timely
manner to carry out development activities; our ability to market our oil and
natural gas successfully to current and new customers; the impact of increasing
competition, our ability to obtain financing on acceptable terms; and our
ability to add production and reserves through our development and acquisition
activities used in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements. Our actual
results, performance, or achievement could differ materially from those
expressed in, or implied by, these forward-looking statements. We can give no
assurance that any of the events anticipated will transpire or occur, or if any
of them do, what benefits we will derive from them. The forward-looking
information contained in this document is expressly qualified by this cautionary
statement. Our policy for updating forward-looking statements is that Zargon
disclaims, except as required by law, any intention or obligation to update or
revise any forward looking statements, whether as a result of new information,
future events or otherwise. 


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: 
Zargon Oil & Gas Ltd.
C.H. Hansen
President and Chief Executive Officer
403-264-9992


J.B. Dranchuk
Vice President, Finance and Chief Financial Officer
403-264-9992
zargon@zargon.ca
www.zargon.ca

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