zaza energy corp (ZAZA) Key Developments
ZaZa Energy Corporation Announces Executive Changes
Jul 15 15
Effective July 9, 2015, Paul F. Jansen has resigned as the chief financial officer and as the chief accounting officer of ZaZa Energy Corporation. Mr. Jansen had also been designated as the company's principal financial officer and principal accounting officer. The board of directors of the company has designated Terry Hobbs, currently serving as the controller & treasurer of the company, as the company's principal financial officer. Ms. Hobbs will continue to serve as the company's controller & treasurer. The board has appointed Charles Ngo, CPA, currently serving as the director financial reporting of the company, as the company's chief accounting officer. Prior to joining company, Ms. Hobbs spent 20 years with TOTAL E&P USA Inc. Prior to joining company, Mr. Ngo worked as senior financial reporting specialist for Crimson Exploration Inc.
ZaZa Energy Reports Mid-Year 2015 Reserves and Operational Update
Jul 6 15
ZaZa Energy Corporation provided a reserves and operations update on the company's activities in the Eagle Ford East, where it has approximately 140,000 gross acres within an Area of Mutual Interest with EOG Resources. ZaZa Energy has announced that proved reserves increased by 487%, reaching 5.9 million barrels of oil equivalent at July 1, 2015, up from 1.0 MMBOE at December 31, 2014. 60% of ZaZa Energy's proved reserves at July 1, 2015 were liquids-weighted, and 83% of the company's proved reserves were classified as proved undeveloped at July 1, 2015. Proved developed reserves increased to 1.0 MMBOE at July 1, 2015, up 46% from 0.7 MMBOE at December 31, 2014. The pre-tax present value of the future net revenues ('PV10') of ZaZa Energy's proved reserves at July 1, 2015 was $48.8 million as compared to $14.5 million at December 31, 2014. All estimated net reserves assume a 25% working interest to ZaZa Energy, with the exception of those wells in which EOG has non-consented (ZaZa Energy - 100% working interest) and certain undeveloped reserves in which Quantum Energy Partners ('Quantum') holds a future participation right (ZaZa Energy - 21% working interest). Should EOG and Quantum non-consent to any of ZaZa's additional proposed development wells, ZaZa Energy would assume a 100% working interest and receive a 4x multiple on the figures included within the report. These two initial wells are part of ZaZa's 2H 2015 eight well vertical development program, each estimated to cost approximately $3.0 million and deliver an internal rate of return of 40% at current commodity prices. ZaZa expects the production results of the new wells to be similar to those achieved by the Company's previous Toby #1V (cumulative one-year production of 181,069 BOE), Grisham #1V (cumulative one-year production of 190,720 BOE), and Laura Unit #1V (cumulative one-year production of 135,911 BOE) wells.
ZaZa Energy Corporation, Annual General Meeting, Jul 06, 2015
Jun 4 15
ZaZa Energy Corporation, Annual General Meeting, Jul 06, 2015., at 11:00 Central Standard Time. Location: Houston Room at the Coronado Club. Agenda: To consider the election of six directors nominated to board of directors to serve until the next annual meeting of stockholders; to approve amendment to the ZaZa corporation long-term incentive plan; to approve issuance of 20% or more of the outstanding shares of common stock in connection with one or more exchanges of any or all of $47,300,000 in aggregate principal amount of 8.00% subordinated notes due 2017; to approve issuance of 20% or more of the outstanding shares of common stock in connection with the issuance on April 30, 2015 of shares of series a convertible preferred stock and warrants for the purchase of shares of common stock; to ratify the appointment of selection of BDO USA, LLP as independent registered public accounting firm of the company for the fiscal year ending December 31, 2015; and to transact any other business as may properly come before the annual meeting or any adjournment thereof.
ZaZa Energy Corporation Announces Earnings Results for the First Quarter Ended March 31, 2015
Jun 1 15
ZaZa Energy Corporation announced earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported loss before income taxes was $6.62 million, compared to a loss before income taxes of $2.58 million for the same quarter ended March 31, 2014.
ZaZa Energy Corporation Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-24-2015 10:30 AM
May 26 15
ZaZa Energy Corporation Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-24-2015 10:30 AM. Venue: JW Marriott Hotel, 151 W. Adams Street, Chicago, Illinois, United States. Speakers: Ted Wicks, Executive Vice President.