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ZaZa CEO buys shares to fund Eagle Ford acquisitions

ZaZa Energy

ZaZa Energy CEO Todd Brooks has acquired 1.5 million shares worth $1.38 million in a private placement of common stock. The money will be used to fund acreage acquisitions in the company’s eastern Eagle Ford and Eaglebine regions.

“ZaZa is poised for growth, and I make this investment with an expectation of value creation through stock price appreciation over time,” Brooks said.

Last month, ZaZa Energy, a wholly owned subsidiary of ZaZa Energy Corp. (NASDAQ: ZAZA) completed the sale of more than 10,000 acres in the Eagle Ford shale play in a $29 million deal to a subsidiary of Houston-based Sanchez Energy Corp. (NYSA: SN).

 

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