Wednesday, March 12, 2014

For Investors Only

  • ZaZa Energy says it will move ahead with the third and final phase of its joint venture with EOG Resources developing the emerging Eaglebine tight oil play in east Texas.
  • EOG will receive a 75% working interest in the remaining Phase III acreage, and ZAZA will receive $4.7M of upfront cash and a carry of the partner's share of future joint venture costs of up to ~$9.2M.
  • EOG also commits to drill an additional two wells, with the first commencing no later than July 1.
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