This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ZaZa Energy Reports Record 2012 Third Quarter Results

Ian Fay, Chief Financial Officer of ZaZa added, “With the cash received from the Hess division of assets, we paid down approximately one third of our debt on our Senior Secured Notes, while improving our balance sheet and liquidity position. We have focused exploration and development efforts in our Eagle Ford and Eaglebine acreage and believe we have sufficient resources at our disposal to execute our drilling plans. We are also exploring strategic and operational alternatives to quickly and efficiently tap the resources we know are prevalent in these plays and which will provide additional capital to further develop our assets.”

Nine-Month Financial Comparisons

Total revenues and other income for the nine-month period ended September 30, 2012, were $224.0 million as compared to $16.3 million for the comparable 2011 nine-month period. This includes oil and gas revenues of $27.0 million and $1.3 million for the nine month periods ended September 30, 2012, and September 30, 2011, respectively. Other income for the 2012 nine-month period was $197.0 million and there was no other income realized in the comparable year-ago period.

Operating expenses for the 2012 nine-month period were $154.7 million (including legal and advisory fees incurred in connection with the Combination of $9.7 million, payment of $4.8 million to four executives of ZaZa LLC pursuant to net profit agreements between ZaZa LLC and each such executive, bonuses to ZaZa LLC Members of $17.5 million triggered by the Combination, as well as stock compensation expense of $13 million and impairment charges of $62.5 million) as compared to $11.2 million for the nine-month period ended September 30, 2011. The Company reported operating income of $62.5 million compared to $5.2 million for the comparable nine-month periods in 2012 and 2011, respectively. For the 2012 nine-month period, ZaZa reported a net loss of $33.4 million, or a loss per diluted share of $0.35, as compared to net income available to common shareholders of $5.0 million, or earnings per diluted share of $0.07.

3 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,752.93 +133.42 0.76%
S&P 500 2,076.47 +13.36 0.65%
NASDAQ 5,019.8840 +33.0170 0.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs