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March 20, 2014
08:08 EDTZAZAZaZa closes third transaction for Eaglebine, Lower Cretaceous asset development
ZaZa Energy announced that it has closed the previously announced third transaction with its joint venture partner to further develop its Eaglebine/Lower Cretaceous assets in the Eagle Ford East. Pursuant to the terms of the Phase III Amendment, ZaZa received a total of approximately $15M in cash and carry consideration and an additional two well drilling commitment. ZaZa’s JV partner has now elected into all of the company’s acreage in the joint venture.
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