22 May 2013director interest notice● Neutral
ZaZa Energy Corp CCO & General Counsel Shelby Scott Gaille bought 14,600 shares on the open market.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 May 2013director interest notice● Neutral
ZaZa Energy Corp Chief Financial Officer Ian H. Fay bought 30,000 shares on the open market at $1.48.
21 May 2013director interest notice● Neutral
ZaZa Energy Corp CCO & General Counsel Shelby Scott Gaille bought 14,600 shares on the open market.
15 May 2013securities registration● Neutral
ZaZa Energy Corp amended an already-effective registration statement.
15 May 2013quarterly activities report● Neutral
ZaZa Energy Corp reported quarterly revenue of $2.8 million for the period ended 2013-03-31.
26 Apr 2013agm notice● Neutral
ZaZa Energy Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
18 Apr 2013substantial holder notice● Neutral
Encompass Capital Advisors LLC, Encompass Capital Master Fund L.P, Todd J. Kantor disclosed a new substantial ZaZa Energy Corp shareholding (5.92% of votes).
16 Apr 2013agm notice● Neutral
ZaZa Energy Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
9 Apr 2013director interest notice● Neutral
Paul Franciscus Jansen became a ZaZa Energy Corp Chief Accounting Officer and company insider (initial ownership filing).
2 Apr 2013late filing notice▼ Bad
ZaZa Energy Corp notified the SEC that its annual report would be filed late.
2 Apr 2013quarterly activities report● Neutral
ZaZa Energy Corp reported quarterly revenue of $2.8 million for the period ended 2013-03-31.
2 Apr 2013securities registration● Neutral
ZaZa Energy Corp amended an already-effective registration statement.
25 Mar 2013material agreement▲ GoodMajor
ZaZa agreed to sell about 10,000 net Moulton acres in the Eagle Ford, with seven producing wells, to BEP Moulton, LLC for about $43.25M cash (about $42M net), expected to close in Q2 2013. The press release adds that closing needs an amendment to the senior secured notes agreement, and a second agreement sells the remaining Moulton acreage for about $9.2M, for about $52.5M combined. Proceeds are meant for exploration spending and/or paying down the senior notes. This carries out the plan to sell Eagle Ford assets received in the Hess split.
25 Mar 2013material agreement▲ GoodMajor
ZaZa signed a joint development agreement with EOG Resources for about 100,000 gross (73,000 net) Eaglebine acres, in three phases. EOG operates and earns up to 75% working interest where ZaZa owned 100%, with ZaZa keeping 25%. Phase I brings $10M cash plus three wells paid by EOG for 20,000 net acres; phases II and III are EOG's option, at $20M each plus three wells each for 20,000 and 15,000 net acres. This builds on the Range arrangement, with the substitute well due to Range becoming the second Phase I well. The press release does not name EOG, and says ZaZa keeps 19,000 net acres at 100%.
28 Jan 2013material agreement▼ BadMajor
ZaZa stopped drilling the Grimes County commitment well with Range and signed Amendment No. 5 (effective Jan 16, 2013): 60 days to start re-completing it as a vertical well and 180 days to start a substitute well. If it misses the deadlines and has no sales from the substitute well by Sept 1, 2013, it must give Range a further 25% (leaving ZaZa 50%) and hand over operatorship. ZaZa bears 100% of the cost of the original and re-entry wells. The same day's release says the Stingray A-1H lateral was lost to a casing collar failure after multiple remediation attempts, which contradicts the earlier plan to fix the restriction and start sales; it will be re-entered and tried as a vertical well. Commodore A-1 was drilling at 12,237 ft with liquid shows, and the Boening A-1H was fracked with first production expected early to mid-February.
25 Jan 2013asset acquisition disposition● Neutral
This amendment to the December 27 filing adds unaudited pro forma financials for the French subsidiary sale to Vermillion REP SAS (closed December 21, 2012). On a September 30, 2012 basis, the pro forma balance sheet shows senior secured notes (net of discount) falling from $46.8M to $13.0M after a $33.8M principal payment, and $15.0M of restricted cash for the Hess escrow. No new transaction terms are given.
2 Jan 2013director interest notice● Neutral
ZaZa Energy Corp Executive Director - COO John E Hearn Jr. disposed of 425,000 shares via option/appreciation-right settlement.
2 Jan 2013director interest notice● Neutral
ZaZa Energy Corp President and CEO Todd Alan Brooks disposed of 1,358,333 shares via option/appreciation-right settlement.
2 Jan 2013director interest notice● Neutral
ZaZa Energy Corp Executive Director - COO John E Hearn Jr. disposed of 1,358,333 shares via option/appreciation-right settlement.
2 Jan 2013director interest notice● Neutral
ZaZa Energy Corp director Gaston L Kearby disposed of 1,358,334 shares via option/appreciation-right settlement.
27 Dec 2012asset acquisition disposition▲ GoodMajor
On December 21, 2012 ZaZa closed the sale of ZaZa Energy France SAS to Vermillion REP SAS, receiving about $76.0 million net purchase price and about $68.0 million after advisor fees, liquidation costs and taxes. About half of the net proceeds went to pay down the senior secured notes, $15.0 million is held in escrow until the Paris Basin permits transfer to Hess, and the rest is for the development program. This completes the French part of the Hess exit that had been awaiting approval, and the press release says the permit title transfer is expected in 2013. The filing does not give the remaining senior note balance; the CEO's quote says over two-thirds of the senior secured debt has been paid down in under a year.
21 Dec 2012material agreement● Neutral
Effective December 17, 2012 ZaZa and its senior secured noteholders signed Amendment No. 4, which allows the transfer of certain intercompany loans when the French subsidiary sale closes and revises some defined terms, including in the warrants. This is the noteholder approval that the Vermillion sale agreement required before closing. The filing gives no other terms.
18 Dec 2012director interest notice● Neutral
ZaZa Energy Corp President and CEO Todd Alan Brooks received 100,000 shares as part of the equity award.
18 Dec 2012director interest notice● Neutral
ZaZa Energy Corp Chief Financial Officer Ian H. Fay received 75,000 shares as part of the equity award.
17 Dec 2012director interest notice● Neutral
ZaZa Energy Corp President and CEO Todd Alan Brooks bought 10,000 shares on the open market at $2.41.
14 Dec 2012director interest notice● Neutral
ZaZa Energy Corp President and CEO Todd Alan Brooks bought 196,850 shares on the open market.
14 Dec 2012director interest notice● Neutral
ZaZa Energy Corp Chief Compliance Officer Shelby Scott Gaille bought 5,000 shares on the open market at $2.03.
14 Dec 2012director interest notice● Neutral
ZaZa Energy Corp Chief Financial Officer Ian H. Fay bought 25,000 shares on the open market at $2.13.
13 Dec 2012director interest notice● Neutral
A Haag Sherman became a ZaZa Energy Corp director and company insider (initial ownership filing).
13 Dec 2012director interest notice● Neutral
ZaZa Energy Corp director A Haag Sherman bought 25,000 shares on the open market at $2.02.