Legal Notice – Terms and Conditions of Use

These Terms and Conditions of Use (“Agreement”) were last amended on January 1, 2011.

Introduction

This website (“Website”) is owned and operated by Zargon Oil & Gas Ltd. (“Zargon”). Any access to the Website and any use of any content contained on or accessible via the Website (such content includes, without limitation, all content, information, documents and other material contained on or accessible from or through the Website, collectively the “Content”): (i) is subject to this Agreement; (ii) is conditional upon your agreement to this Agreement; and (iii) constitutes your acceptance of all the terms and conditions of this Agreement.

Amendments

You agree that Zargon may amend this Agreement at any time without notice to you. It is your responsibility to check for such amendments each time you access or use the Website. Any such access or use shall be deemed to mean you are accepting this Agreement, as so amended, whether or not you have viewed this Agreement, as amended. The date this Agreement was last amended is set out on the first sentence of this Agreement.

Ownership of Website and Content

This Website and all the Content are subject to copyright, trade-mark and other intellectual property rights of Zargon and its licensors, and to international laws and treaties protecting intellectual property. All rights not expressly granted to you are reserved.

Limited License and Restrictions

Conditional on your agreement to this Agreement, Zargon grants to you a limited, non-exclusive, revocable, non-assignable and personal license to access, view and print (for your viewing only) the Content for your own personal and non-commercial use. You may not otherwise access, view or print the Content and you may not modify, reproduce, download, publish, disseminate, transmit, sell, create derivative works, display, frame or in any way exploit any of the Content, except with the express written permission of Zargon.

None of the Content constitutes business, financial, investment, tax, legal or other advice and you agree that you will not use or rely on any Content for any of the same.

Investment Decisions

The information set out on this Website and the Content should not be used for the purpose of making investment decisions with respect to Zargon’s securities or any other securities.

For official public securities documents and public companies information filed by Zargon, you are directed to documents on file with securities regulatory authorities, some of which may be accessed through the SEDAR website (www.sedar.com). Not all such documents and information are contained on this Website and the ones contained on this Website may not be current and you agree to not rely on the same.

Zargon is subject to the securities laws of various jurisdictions. Information disclosed or provided by us pursuant to the securities laws of those jurisdictions is not intended to be in any way qualified, amended, modified or supplemented by the information otherwise available in, through, or on this Website.

If you are contemplating trading in Zargon’s securities, you agree to only review our documents filed with securities regulatory authorities, including at www.sedar.com, and seek the advice of an authorised investment advisor.

No Solicitation

Material contained on or accessible through this Website or the Content is for information purposes only and is not intended to and does not constitute an offering or solicitation of securities in any jurisdiction.

Forward-Looking Statements

Any forward-looking statements contained on the Website are based on various information and data and a number of assumptions, analytical methods and financial and other models, any or all of which may prove to be incorrect. Although Zargon believes that the expectations reflected in such forward-looking statements, and the information and data and the assumptions, methods and models upon which they are based, are correct, undue reliance should not be placed on forward-looking statements because Zargon can give no assurance that they are, in fact, correct. Further, the industry involves risks and uncertainties and is subject to change and therefore the various assumptions, methods and models may prove to be incorrect. In addition to the assumptions and other factors which may be identified on the Website, these assumptions and factors may include: the impact of increasing competition; the general stability of the economic and political environment in which Zargon operates; the timely receipt of any required regulatory approvals; the ability of Zargon to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects which Zargon has an interest in to operate the field in a safe, efficient and effective manner; the ability of Zargon to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development or exploration; the timing and costs of pipeline, storage and facility construction and expansion; the ability of Zargon to secure adequate product transportation; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Zargon operates; and the ability of Zargon to successfully market its oil and natural gas products. Readers are cautioned that the foregoing list of assumptions and factors is not exhaustive. Certain documents and information contained on this Website that contain forward looking statements may also contain information on the assumptions, factors, risks and qualifications upon which such forward looking statements were made.

Furthermore, any forward-looking statements contained on the Website are made as at the date of their posting and Zargon does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Additional information on these and other assumptions and factors that could affect Zargon’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website.

Third Party Websites

Links to third party websites provided on the Website are provided as a courtesy only. The content, accuracy, opinions expressed and other information and any products or services obtained from or through any links are not investigated or verified by Zargon. In addition, the information, products and services obtainable through those links may change following the posting of the link to the Website.

Zargon will not be responsible for the use of any information, product or service obtained from or through any links to third party websites. You agree to assume all risks arising in connection with your use of those third party websites.

No partnership, contractual or other type of relationship should be implied merely from the fact that a link to a third party website is provided.

Viruses

Zargon does not warrant that the Website or the Content will be free of viruses, worms, Trojans, spyware, malware or any other malicious or destructive content or code (collectively, the “Threats”), whether the results of any malicious or neglectful activity or otherwise. You agree to use the latest anti-virus software and virus databases to avoid any loss or damage arising as a result of any Threats obtained by or through the Website or any Content.

Disclaimer of Warranty and Limitation of Liability

THE WEBSITE AND CONTENT ARE PROVIDED STRICTLY ON AN “AS IS” AND “AS AVAILABLE” BASIS. ZARGON MAKES NO EXPRESS OR IMPLIED WARRANTIES OR CONDITIONS WHATSOEVER, AND SPECIFICALLY DISCLAIMS THE SAME INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, CORRECTNESS, CURRENCY, TIMELINESS OR COMPLETENESS AND ANY IMPLIED BY STATUTE. YOU AGREE THAT ALL USE OF THE WEBSITE AND THE CONTENT SHALL BE SOLELY AT YOUR OWN RISK.

YOU AGREE THAT UNDER NO CIRCUMSTANCES WILL ZARGON BE LIABLE FOR ANY INCIDENTAL, SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR LOSSES INCURRED OR SUFFERED BY YOU WHICH MAY ARISE OUT OF THE USE OF THE WEBSITE OR USE OF OR RELIANCE ON ANY CONTENT, WHETHER OR NOT ZARGON WAS TOLD OF THE POSSIBILITY OF SAME.

Applicable Law

This Agreement, your use of the Website and the Content and the relationship between you and Zargon in connection with the same shall be governed and construed in accordance with the laws of the Province of Alberta and those of Canada applicable therein, without reference to their conflict of laws and all matters arising in connection with the same shall be brought exclusively in the courts of Alberta. Notwithstanding the foregoing, either party may apply to any court of competent jurisdictions to obtain injunctive relief.

General

This Agreement constitutes the entire agreement between Zargon and you regarding your use and access to the Website and Content. No waiver of any breach of this Agreement shall be deemed a further or continuing waiver of such breached term or condition or any other term or condition. No representative of Zargon is authorized to amend this Agreement other than as specifically provided for herein. If any part of this Agreement is held to be unenforceable by a court of competent jurisdiction, such part this Agreement shall be restricted or eliminated to the minimum extent necessary and the remaining terms and conditions hereof shall otherwise remain in full force and effect. Headings are for reference purposes only and shall not be used in the interpretation of this Agreement.