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News Breaks
March 12, 2014
08:05 EDTZAZAZaZa signs amendment to Joint Exploration Development agreement
ZaZa Energy announced that it has signed an amendment to its Joint Exploration and Development agreement with its current joint venture partner to further develop its Eaglebine/Lower Cretaceous assets in the Eagle Ford East. ZaZa will immediately assign to its joint venture partner a 75% working interest in all of the company’s remaining Phase III acreage. As consideration for this final Phase III acreage election, ZaZa will receive approximately $4.7M of upfront cash and a carry of the company’s share of future joint venture costs of up to approximately $9.2M. ZaZa received an additional $1.1M of cash from its partner related to the completion of the Range-ZaZa JV agreement. ZaZa’s JV partner also has committed to drill an additional two wells, with the first well commencing no later than July 1.
News For ZAZA From The Last 14 Days
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August 31, 2014
13:31 EDTZAZAHart Energy to hold a conference
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August 28, 2014
17:11 EDTZAZACrede CG III reports 7.89% passive stake in ZaZa Energy
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August 27, 2014
07:04 EDTZAZAZaZa Energy announces East Texas JV agreements with private equity firm
ZaZa Energy Corporation and an affiliate of Quantum Energy Partners have entered into a Purchase and Sale Agreement, which includes an East Texas Development Agreement comprising Walker, Grimes, Madison, Trinity, and Houston counties. Pursuant to the terms of the Quantum Agreements: ZaZa will receive ~$17M of total consideration, consisting of both cash and ZaZa’s right to receive Quantum’s interest in the next 15 East Texas JV wells between the closing of the Quantum transaction and its second anniversary. ZaZa will assign to Quantum 6,000 net acres in undeveloped leases within ZaZa’s East Texas JV. ZaZa retains its interest in all existing wells and the right to participate with respect to Quantum’s working interest in the Reserved Wells. Following this assignment, ZaZa will have ~30,000 net acres in its East Texas JV and ~10,000 net acres in its East Texas focus area. ZaZa will receive ongoing G&A and cost reimbursements from Quantum for providing services related to their jointly owned assets in Walker, Grimes, Madison, Trinity, and Houston counties.

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