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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