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DewDiligence

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Re: dewophile post# 5191

Tuesday, 06/12/2012 5:35:36 PM

Tuesday, June 12, 2012 5:35:36 PM

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ZAZA, HES end Eagle Ford JV:

http://www.reuters.com/article/2012/06/11/us-zazaenergy-jointventure-hess-idUSBRE85A0ZX20120611

Hess and ZaZa will end their agreements in the Eagle Ford shale and France's Paris Basin. They will also swap certain oil, gas and mineral interests, well bores and production, ZaZa said… Hess has already paid $15 million in cash to ZaZa and will pay an additional $70 million once the deal closes, likely before August 15.

I don’t recall HES’ mentioning this JV to investors—perhaps the size of the operation is too small to be meaningful from HES’ standpoint.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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