Alrighty - 

There are a few different numbers/items going on here, but it looks like ZaZa has increased its acreage position by acquiring right to drill certain leases from Range.   See press release here:

http://phx.corporate-ir.net/phoenix.zhtml?c=68298&p=irol-newsAr...

This is a slight increase in net lease area, about 20,000 acre net, to 89,000 acres net (144,000 acres gross) as compared to the earlier report in the Company's most recent presentation.  

ZaZa is also reporting plans to drill 6 wells in the Eaglebine in 2012, 4 vertical and two horizontal.  Based on their corporate presentation, those wells will primarily be on acreage in which ZaZa has a majority interest.  The chart on page 12 really tells that story.  Page 11 of the corporate presentation is also pretty interesting.  ZaZa is directly putting its capital at risk to drill the eaglebine.  It will be interesting to see if they are getting technical help from any of the big boys in doing this, particularly with Range maintaining some interest in the properties, if I understand the transaction.  

Tags: Eaglebine, buda, dexter, woodbine

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Thanks dbob,

 For those of us that have been following Dist 3  since last fall the significance of this Range Buyout has follow-up  implications --------------- Range had drilled a well in NW Walker County known as the Gibbs Brothers #1 H   ---- the rumors have been buzzing about it since September yet there are no official reports on it's IP  -------- Range reportedly shut the well in and went on a lease buying frenzy in Walker,Grimes and Madison County -------- Now we see that Range's massive lease block has been sold to ZaZa instead of developing it themselves ------ I noted that ZaZa has some excellent maps on their website and that one of their example logs was out of a well on the Cameron Mineral Trust in Trinity County east of this lease block.

 It is sales like these that continue to reinforce the commercial viability of the EFS EAGLEBINE and its eastward progress ----- we wish ZaZa good luck as it develops their portion of this play

BTW ---- I would think that Boscoe's and Europe's spirits would be lifted by this transaction because it could certainly lead to the development of Trinity County  --- IMHO

I'm trying to figure out the arrangement specifics, because I had assumed Range would have had a majority interest in its postion,

  dbob,

  One would think that Range would have to have some production records somewhere also to secure a good sale, after all Walker County is not exactly loaded down with EFS producers at this time.

Dry Hole ... Are you able to post a link to the well logs you refer to above in the Cameron Trust land? I have looked but can't find this log on their web site, and am interested to see it. I wasn't aware that there were any recent wells there (?) but am interested even if its old.

Sorry Liptinite,

  That was so long ago that I believe they have updated their web site ------ I remember the names above the logs were VERY TINY and I had to enlarge it many times before I could read them

Not that it means anything, but their stock is on a tear today. Maybe someone from Wall street watching trucks out there?

No word on ZaZa Stingray production or amended agreement with Range.  Anyone know if they produced oil on the 16th?

My suspicion is that they did, or risk lawsuits from investors by not reporting it if they didn't.

Report shows 4 days into a Nabors rig Re-entry on Stingray

  Also noted that EOG has permitted another well in Madison Co.

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