ZaZa restructures deal with Hess

http://www.cbsnews.com/8301-505245_162-57450317/zaza-energy-shares-...

 

http://in.reuters.com/article/2012/06/11/us-zazaenergy-jointventure...

 

"

Shares in ZaZa, valued at about $417 million, rose 35 percent to touch a three-week high of $4.20 on the Nasdaq on Monday.

Hess and ZaZa will end their agreements in the Eagle Ford shale and France's Paris Basin. They will also swap certain oil, gas and mineral interests, well bores and production, ZaZa said.

As a result, ZaZa's land holdings in the Eagle Ford shale will rise to about 72,000 net acres.

Hess has already paid $15 million in cash to ZaZa and will pay an additional $70 million once the deal closes, likely before August 15."

 

Tags: Eagle, Eaglebine, Ford, Woodbine

Views: 186

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Permalink Reply by dbob on June 15, 2012 at 16:13

You can find the new ZaZa 10-k financial report here:

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

Still digging to see if there is anything of interest

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