Range Texas Production, LLC, a wholly-owned subsidiary of Range Resources Corporation, and ZaZa have negotiated an amendment to their participation agreement relating to the acreage on which the Stingray is located. The amendment provides ZaZa: (i) sixty (60) days from January 16, 2013, to commence re-entry operations on the Stingray for the purpose of drilling a vertical comingled Lower Cretaceous well; and (ii) one hundred eighty (180) days from January 16, 2013, to commence drilling operations on a substitute horizontal well.The Stingray proof of concept well is yielding the Company important data as it continues to technically prove up the Lower Eaglebine play in Northern Walker County. As per a Fesco fluid analysis, through one open fractured interval above the casing restriction, the Company recovered some gas and 45.83 API Gravity crude oil from the Stingray.
ZaZa Energy Corporation Provides Operational Update
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