Jan 19 (Reuters) - Zargon Oil and Gas Ltd:
* Provides an update regarding 2010 fourth quarter operations, 2011 guidance
and 2011 first quarter dividends
* Says field estimate for the 2010 fourth quarter production of 9,317 barrels
of oil equivalent per day
* Says 2010 fourth quarter oil production rate of 5,437 barrels of oil per day
* Says 2011 oil production is expected to show continued growth with a 4-8
percent gain over 2010 averages
* Says 2010 fourth quarter's average natural gas rate of 23.28 million cubic
feet per day
* Says for 2011, Zargon is proceeding with a $55 million capital budget
* Natural gas production is expected to decline more than 15 percent in 2011
* Says during 2011, Zargon expects to drill approximately 37 net wells
* Says natural gas production expected to vary from 22.8 to 19.8 million cubic
feet per day during the 2011
* Sees to deliver 9,400 to 10,000 barrels of oil equivalent per day for 2011
* Sees average oil production rate varying from 5,800 to 6,300 barrels of oil
per day in 2011
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Provides an update regarding 2010 fourth quarter operations, 2011 guidance
and 2011 first quarter dividends
* Says field estimate for the 2010 fourth quarter production of 9,317 barrels
of oil equivalent per day
* Says 2010 fourth quarter oil production rate of 5,437 barrels of oil per day
* Says 2011 oil production is expected to show continued growth with a 4-8
percent gain over 2010 averages
* Says 2010 fourth quarter's average natural gas rate of 23.28 million cubic
feet per day
* Says for 2011, Zargon is proceeding with a $55 million capital budget
* Natural gas production is expected to decline more than 15 percent in 2011
* Says during 2011, Zargon expects to drill approximately 37 net wells
* Says natural gas production expected to vary from 22.8 to 19.8 million cubic
feet per day during the 2011
* Sees to deliver 9,400 to 10,000 barrels of oil equivalent per day for 2011
* Sees average oil production rate varying from 5,800 to 6,300 barrels of oil
per day in 2011
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.