Dec 12 (Reuters) - Zargon Oil & Gas Ltd:
* Board of directors has approved a 2017 capital budget of $7.8 million
* Zargon Oil & Gas - 2017 capital budget projected to maintain production at stable Q4 2016 guidance levels of 2,500 barrels of oil equivalent per day
* Zargon Oil & Gas -2017 capital budget plan expected to be fully funded out of 2017 corporate funds flow at oil prices of $52 U.S. per barrel or better Source text for Eikon: Further company coverage: ZAR.TO