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ZaZa Energy Corporation Message Board

  • millstonec millstonec Mar 25, 2013 10:00 AM Flag

    Dow Jones reporting that EOG is the partner in Eaglebine

    EOG!! Wow, makes sense. That is an amazing coup!

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    • markramey Mar 25, 2013 10:21 AM Flag

      Yes, I just read the SEC filing. EOG a big player there. I've expecting a JV or even a buyout considering the quality of the holdings there.

    • Yes..Saw that too..EOG big player there..
      And for those interested.

      Sentiment: Strong Buy

      • 2 Replies to tianruoyouqing_2000
      • Thank you for the updates. The way I see this (and I appreciate any others opinions ), in exchange for a 50% equity in production from these properties (Range owns 25%), EOG will make cash payments pending the phase of the contract, control and be responsible for all drilling, and will be responsible for drilling more wells this year than ZaZa likely would have been able to do on this property. Zaza in turn loses 2/3rds its equity in production, but gains in not having any costs incurred in the drilling, uses EOG's proven expertise, essentially still nets 25% of the production,and essentially gains enough money to drill a couple of times free per phase on their remaining acreage in the Eaglebine. Gone is the Moultan -sold, and trying to sell their Hackberry/Oakland and Dilley acreage, leaving the Sweet Home for further expansion outside of the Eaglebine. All parties appear to win with this in my opinion. EOG has assumed the risk which can be leveraged against their vast holdings.

      • Lot's of additional details in there. Including up to $50 Million cash payment to ZAZA by EOG if EOG signs on for all 3 phases of the deal. $10 Million to ZAZA up front. So ZAZA just found $60 Million more in cash, from today's announcements.

0.07+0.02(+34.62%)Jun 29 11:16 AMEDT