Zargon Reports Increase In Reserves, Change In Spending Plans

摘要

Zargon Energy Trust has reported higher reserves for 2008 and has decided to switch some of its capital budget from field activities to acquisition capital in order to take advantage of anticipated acquisition opportunities as companies struggle in the face of weak commodity prices.The trust had total proved reserves of 21.05 million bbls of oil equivalent and proved plus probable reserves of 29.72 million BOE at the end of 2008, a 12% and 10% increase, respectively, from the prior year.