ZaZa Energy gets deal for further development of Eaglebine/Eagle Ford

|About: ZaZa Energy Corporation (ZAZA)|By:, SA News Editor

ZaZa Energy (ZAZA +14.8%) shares are strong after announcing a second transaction with its unnamed joint venture partner to acquire additional production and further develop its Eaglebine/Eagle Ford assets.

As consideration for the Phase II election, ZaZa will receive $17M plus interests in 15 of its partner's wells with a PDP present value of $3M based on an independent reserves report.