Jan 10 (Reuters) - Zargon Oil & Gas Ltd ZAR.TO :
* ZARGON ANNOUNCES VOTING RESULTS OF EXTRAORDINARY MEETING OF DEBENTUREHOLDERS AND PROVIDES STRATEGIC ALTERNATIVES PROCESS UPDATE
* ZARGON OIL & GAS-BOARD OF DIRECTORS RENEWED ITS STRATEGIC ALTERNATIVES PROCESS TO SEEK OUTCOMES THAT WILL MAXIMIZE VALUE FOR CO & ITS STAKEHOLDERS
* ZARGON- EXCHANGE TRANSACTION SIGNIFICANTLY ENHANCES PROSPECTS TO PURSUE STRATEGIC TRANSACTIONS WHICH MAY INCLUDE CORPORATE MERGER OR SALE
* ZARGON- EXCHANGE TRANSACTION SIGNIFICANTLY ENHANCES PROSPECTS TO PURSUE STRATEGIC TRANSACTIONS WHICH MAY INCLUDE RECAPITALIZATION OR REORGANIZATION
* ZARGON OIL & GAS-FOLLOWING EXCHANGE TRANSACTION CLOSING CO WILL HAVE REDUCED ITS OVERALL DEBT BY $41.94 MILLION & ITS ANNUAL INTEREST BURDEN BY $3.36 MILLION