[en] Zargon Oil and Gas Ltd is an oil, and natural gas exploration, development and production company operating in the Western Canadian Sedimentary Basin. The company has delivered 25 consecutive quarters of positive earnings, an average 10.3 per cent return on investment and a finding and development cost of $5.32 per barrel of oil equivalent. The company averaged 1,711 bbl/day of crude oil and liquids, and 9.15 MMcf/day of natural gas, 13 and 45 per cent up from 1998 figures, respectively, Proven reserves at year end include 5.2 million barrels of oil and 43.06 billion cubic feet of natural gas. The company has 177,000 acres of undeveloped land. Operating revenues were at $24.05 million, up from $14.26 in 1998; earnings were $4.26 million, compared to $1.25 million in 1998. Increased volumes and attractive oil prices in 2000 promise a second consecutive year of of rapid cash flow growth and improved earnings. The report provides a review of operations, a detailed analysis and discussion of results by management, the requisite financial statements, and an eight-year summary of financial and operational information, going back to the company's first year of operation