ZaZa Energy Corporation Announces Definitive Purchase and Sale Agreement and Follow-on Purchase and Sale Agreement of Its

  ZaZa Energy Corporation Announces Definitive Purchase and Sale Agreement and
  Follow-on Purchase and Sale Agreement of Its Moulton Assets

Company to sell its Moulton assets in two separate transactions for a combined
                       purchase price of $52.5 million

Business Wire

HOUSTON -- March 25, 2013

ZaZa Energy, LLC, a wholly-owned subsidiary of ZaZa Energy Corporation (“ZaZa”
or the “Company”) (NASDAQ:ZAZA), today announced that it has entered into a
purchase and sale agreement to sell ~10,000 net acres of the Company’s
properties located in Fayette, Gonzalez and Lavaca Counties, Texas, which the
Company refers to as its Moulton properties (“Moulton”). This transaction
includes all of the Company’s interest in seven producing wells located in
Moulton. The total cash purchase price for the ~10,000 net acres and
associated production is ~$43.3 million. The closing of the sale is expected
to occur during the second quarter of 2013 and net proceeds from the sale,
after customary closing purchase price adjustments and expenses, are expected
to be ~$42 million. The closing is subject to normal closing conditions and
the amendment of ZaZa’s securities purchase agreement for its senior secured
notes.

The Company also announced today that it has executed a purchase and sale
agreement to sell the remaining acreage in its Moulton properties for ~$9.2
million. This transaction is also expected to close during the second quarter
of 2013 and is subject to normal closing conditions.

Commenting on today’s announcement, Todd A. Brooks, President and Chief
Executive Officer of ZaZa stated, “As part of the Hess division of assets in
2012, we received cash and a significant amount of acreage in the Eagle Ford
play. We are in the process of monetizing select assets in order to improve
our balance sheet and high grade our resource base with a focus on the
Eaglebine. We believe these independent transactions are a testament to the
strength of our technical and land teams, as we originally evaluated and
leased this acreage in a short period of time for the benefit of our Eagle
Ford joint venture.”

ZaZa intends to use the net proceeds from both transactions to fund a portion
of capital expenditures for exploration on its other properties and further
reduce the principal amount of its senior secured notes.

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, ZaZa’s ability to
enter into joint ventures, 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 most recent filings 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:

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