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ZaZa Energy Reports Record 2012 Third Quarter Results

For the period from February 21, 2012 to September 30, 2012, Toreador contributed $19.7 million in revenue and a $62.9 million net loss.

Results of Operations

The table below relates to the Company’s corporate activities and oil and gas exploration and production operations in the United States and France.
   
For the Three Months Ended September 30, For the Nine Months Ended September 30,
2012   2011 2012   2011
Production:
Oil (Bbls):
United States 24,263 8,422 74,051 13,499
France   76,742  

-
  185,982   -
Total 101,005 8,422 260,033 13,499
 
Gas (Mcf):
United States 38,547 14,627 114,323 15,715
France   -   -   -   -
Total 38,547 14,627 114,323 15,715
 
BOE:
United States 30,688 10,860 93,104 16,118
France   76,742   -   185,982   -
Total 107,430 10,860 279,086 16,118
 
Average Price:
Oil ($/Bbl):
United States $ 86.61 $ 87.00 $ 95.15 $ 89.15
France $ 104.41 - $ 105.59 -
 
Gas($/Mcf):
United States $ 2.50 $ 4.64 $ 2.69 $ 4.68
 

The following table sets forth the Company’s interest in undeveloped acreage, developed acreage and productive well count as of September 30, 2012:
   
Acres Productive Wells
Undeveloped   Developed Gross   Net
Gross   Net Gross   Net Gas   Oil Gas   Oil
Eagle Ford:
Cotulla (1) 2,270 1,973 - - - - - -
Moulton (2) 11,432 8,699 2,924 2,924 - 7 - 1.6
Sweet Home (3) 36,679 34,858 - - - - - -
Hackberry (4) 23,334 20,761 1,324 1,324 2 - 2 -
Eaglebine 134,844 88,312 - - - - - -
Other Onshore U.S. 640 426 2,424 59 - 4 - 0.1
Paris Basin - - 24,260 24,260 - 133 - 133
 

The following table presents ZaZa’s production data for the referenced geographic areas for the period ended September 30, 2012:
 
For the Three Months Ended September 30, 2012
Gas   Oil   Equivalent
(Mcf) (Bbls) (BOE)
Eagle Ford:
Cotulla (1) 12,617 8,289 10,392
Moulton (2) 1,437 11,393 11,633
Sweet Home (3) - - -
Hackberry (4) 24,249 2,763 6,804
Eaglebine - - -
Other Onshore 244 1,819 1,859
Paris Basin - 76,742 76,742
Total 38,547 101,005 107,430
 

(1) As of July 24, 2012 we had an average working interest in the Cotulla properties of 9.75% and a net revenue interest of 7%. We did not retain any interests in the Cotulla properties after the Hess separation, although we retained undeveloped acres.

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