ZaZa Energy Corporation Provides Update on Schedule 14C and Form 13D Filings

  ZaZa Energy Corporation Provides Update on Schedule 14C and Form 13D Filings

   Management Displays Long-Term Conviction Through Personal Grant Program

Business Wire

HOUSTON -- November 21, 2012

ZaZa Energy Corporation (NASDAQ: ZAZA), today filed an information statement
on Schedule 14C relating to the Company’s 2012 Long-Term Incentive Plan, and
its controlling stockholders (the “Founders”) filed an amendment to their
schedule 13D with the Securities and Exchange Commission (SEC).

The long-term incentive plan provides for the Company to make future grants of
various types of compensatory awards to employees, officers, directors and
service providers. The plan has previously been approved by the Company’s
Board of Directors, and stockholders holding a majority of the outstanding
shares of the Company’s common stock have executed written consents approving
the plan. The consents will be effective 20 days after mailing of the
information statement to the Company’s stockholders.

ZaZa’s Founders also filed an amendment to their schedule 13D in respect to
personal grants of stock made by them to certain ZaZa personnel to provide
incentives for those personnel beyond those set forth in the Company’s
Long-Term Incentive Plan. These grants were part of the Founders’ original
vision of sharing equity with key personnel to effect the alignment of the
management team’s interests with those of shareholders. The related transfers
of stock grants come from the Founders’ existing shareholdings and thus are
also reflected on Form 4s filed by each of these stockholders today.

“I am proud to state that, as a result of these equity grants by the three
founders of ZaZa, every member of ZaZa’s senior management team now has a
meaningful equity position in the Company, aligning their interests with
stockholders,” said Todd A. Brooks, CEO, ZaZa Energy. “ZaZa is now in
execution mode, having begun our drilling program to unlock the potential of
our Eaglebine and Eagle Ford assets. We are excited for what the future holds,
and believe ZaZa is positioned for significant growth and expansion in the
coming years.”

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