ZaZa Energy -30% after quarterly loss widens, revenue tumbles

ZaZa Energy (ZAZA -30.9%) shares swoon after the company reports a Q2 loss of $0.57 vs. a $0.49 loss in the year-ago quarter; revenues fell 23% Y/Y to $2.4M.

ZAZA attributes the revenue drop on the loss of $2.5M in Cotulla revenues as a result of the division of assets from a former joint venture.

Overall, oil and gas production fell 25% Y/Y to 30.305 boe.

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