“Today, the Eaglebine play is one of the most exciting, emerging, liquids-rich resource plays in the country, and the data we have in-house supports this sentiment. As the first mover in the Eaglebine play, ZaZa holds what it believes to be some of the Eaglebine’s most promising and untapped acreage. We have amassed a dominant, nearly contiguous land position of ~90,000 net acres located in the thickest part of the play. Although early drilling in this area has initially proved challenging for some operators, ZaZa has overcome these obstacles through new drilling processes and technological innovation developed by its experienced operations team, a team with a collective knowledge-base derived from successfully drilling over 7,500 horizontal wells. As a result of these new processes and innovations, ZaZa now has the ability to control and further develop these assets and unlock both short and long-term value. All of our data indicates high productive potential and we are now focused on making the Eaglebine our core, foundation asset,” Mr. Brooks continued.The Company also disclosed today that upon establishing production in the Eaglebine, it expects to further its negotiations and move towards the execution of a substantive joint venture agreement for its Eaglebine acreage. Additionally, based on production results and initial appraisal data in the Company’s Sweet Home Black Hawk Field Extension play, ZaZa will continue its asset prioritization process beyond the Paris Basin and will allocate resources consistent with a highest and best value creation philosophy.
ZaZa Energy Announces Comprehensive Eaglebine And Eagle Ford Drilling Operations
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