ZaZa Energy Corporation Announces the Sale of Its Remaining Moulton Assets

  ZaZa Energy Corporation Announces the Sale of Its Remaining Moulton Assets

Business Wire

HOUSTON -- July 31, 2013

ZaZa Energy Corporation (“ZaZa” or the “Company”) (NASDAQ:ZAZA) today
announced that it has completed the transaction for the sale of its remaining
properties located in Fayette, Gonzalez and Lavaca Counties, Texas, which the
Company refers to as its Moulton properties (“Moulton”) in the Eagle Ford, to
a subsidiary of Sanchez Energy Corporation. After customary closing
adjustments and expenses, the net proceeds to ZaZa are ~$29.3 million, for
~10,300 net acres and ZaZa’s interest in associated producing wells.

ZaZa intends to use a portion of the net proceeds from the transaction to
further reduce its outstanding debt obligations as required under its debt
agreements. Pro Forma financial information can be found in the Company’s Form
8-K that was filed with the U.S. Securities and Exchange Commission today.

Commenting on today’s announcement, Todd A. Brooks, President and Chief
Executive Officer of ZaZa stated, “This divestiture provides us with
additional working capital and greater financial flexibility as we move
through 2013 with a clear objective: Monetize and JV our Eagle Ford West
assets in order to improve our balance sheet and build our production base
alongside our JV partner in the Eaglebine/Eagle Ford East Play. Progress in
this joint venture is continuing as planned and we anticipate timely drilling
of the first three wells as part of the Agreement.”

About ZaZa Energy Corporation

Headquartered in Houston, Texas, ZaZa Energy Corporation is a publicly-traded
exploration and production company with primary assets in the Eagle Ford and
Eaglebine/Eagle Ford East 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 2012 Form
10-K and 2013 First Quarter Form 10-Q 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, +1 212-786-6037
Partner
jmorakis@jmrww.com