ZaZa Energy announced comprehensive drilling updates in its core Eaglebine and Eagle Ford properties. "Over the past several months we've significantly strengthened our capital structure, and, as a result, are in a much stronger and more stable position to further develop and prove up our Eaglebine assets while supplementing our existing activities in our Eagle Ford acreage. With the improvements in our balance sheet and new positive developments in our operations, we are sufficiently capitalized to execute on our strategy and unlock value from our Eaglebine assets," stated the company. Eaglebine/Woodbine Stingray Well - Drilling Completed; Hydraulic Fracturing to Begin Immediately. ZaZa has completed drilling and running production casing on its Eaglebine Stingray A-1H well in Walker County, Texas. The Company has drilled a pilot hole through the objective section, taken sidewall cores, and run a full suite of logs including a Schlumberger Quad-Combo, Elemental Capture Spectroscopy Sonde, Dual-Oil-Based Micro Imager, Sonic-Scanner and a post-processed ELAN Shale Oil Evaluation (ELAN) for the empirical measurement of hydrocarbons in place. In addition, ZaZa has completed drilling an approximately 4,700-foot, in-zone lateral in the objective section of the well and commenced completion operations. ZaZa expects to begin hydraulic fracturing operations on November 12, 2012, with initial production planned for late November 2012.
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