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ZaZa Energy Corporation Announces Definitive Sales and Purchase Agreement with Vermilion Energy



  ZaZa Energy Corporation Announces Definitive Sales and Purchase Agreement
  with Vermilion Energy

Company to sell its French assets (ZaZa Energy France) for a purchase price of
                                $85.8 million

Business Wire

HOUSTON -- November 14, 2012

ZaZa Energy Corporation (NASDAQ: ZaZa) today announced that it has entered
into a definitive share purchase agreement (“Purchase Agreement”) with
Vermilion Energy Inc. (“Vermilion”), whereby Vermilion, through its
wholly-owned subsidiary Vermilion REP SAS, will acquire 100% of the shares of
ZaZa Energy France SAS (“ZEF”) for a purchase price of approximately US$85.8
million, subject to customary closing adjustments, with an effective date of
October 1, 2012 and an anticipated closing prior to year-end 2012.

ZEF’s operating interests cover approximately 24,300 acres and a 100% working
interests in the Neocomian Complex and Charmottes fields in the Paris Basin.
Current production is approximately 850 Bbl/d of light Brent-based crude oil.
Proved Reserves at 30 June 2012, as evaluated by Gaffney, Cline & Associates,
were estimated to be approximately 5.6 million Bbls.

"This divestiture falls directly in-line with ZaZa's strategic objective to
focus on further developing our core operating acreage in Texas," said Todd A.
Brooks, Chief Executive Officer of ZaZa Energy. "It strengthens our balance
sheet and provides us with additional working capital to drill in the
Eaglebine and Eagle Ford plays. We have now amassed over 160,000 net acres
between the two, including a dominant, nearly contiguous 90,000 net acre block
in the Eaglebine located in the thickest part of the basin, which we are
currently developing. Over the coming quarter, we look forward to providing
our shareholders with updates on our progress and believe the next year will
be an excellent year for our Company.”

Upon closing, ZaZa intends to use a portion of the proceeds from the
disposition to pay-down part of its remaining senior secured notes and
accelerate its drilling program in its core operating acreage in Texas.
Additionally, as part of the Paris Basin Agreement signed with Hess in July
2012, ZaZa will hold $15.0 million of the proceeds in escrow until all Paris
Basin exploration permits are successfully transferred to Hess.

The acquisition remains subject to customary conditions and receipt of all
necessary regulatory approvals.

About ZaZa Energy Corporation

Headquartered in Houston, Texas, with offices in Corpus Christi, Texas and
Paris, France, ZaZa Energy Corporation is a publicly traded exploration and
production company with primary assets in the Eagle Ford and Eaglebine
resource plays in Texas. More information about the Company may be found at
www.zazaenergy.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements can be identified by words
such as "anticipates," "intends," "plans," "seeks," "believes," "estimates,"
"expects," "forecasts" and similar references to future periods. These
statements include, but are not limited to, statements about ZaZa’s ability to
execute on exploration, production and development plans, estimates of
reserves, estimates of production, future commodity prices, exchange rates,
interest rates, geological and political risks, drilling risks, product
demand, transportation restrictions, actual recoveries of insurance proceeds,
the ability of ZaZa to obtain additional capital, and other risks and
uncertainties described in the Company’s filings with the Securities and
Exchange Commission. While forward-looking statements are based on our
assumptions and analyses that we believe to be reasonable under the
circumstances, whether actual results and developments will meet our
expectations and predictions depend on a number of risks and uncertainties
that could cause our actual results, performance and financial condition to
differ materially from our expectations. See "Risk Factors" in our 2011 Form
10-K filed with the Securities and Exchange Commission for a discussion of
risk factors that affect our business. Any forward-looking statement made by
us in this news release speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking statement,
whether as a result of new information, future development, or otherwise,
except as may be required by law.

Contact:

JMR Worldwide
Jay Morakis, Partner
+1 212-786-6037
jmorakis@jmrww.com
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