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ZaZa Details Progress at Texas JV Projects
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ZaZa Energy Corporation has reported results for the year ended December 31, 2013.
2013 Year-End ResultsFor the twelve months ended December 31, 2013 the Company reported total revenues and other income of $8.9 million as compared to $205.2 million in the comparable 2012 period. The prior year period included $195.6 million in other income related to the gain on the dissolution of our joint venture with the Hess Corporation and the related division of assets. The gain of $195.6 million consisted of a step up in oil and gas property to a fair value of $117 million, a write-off of $5.4 million in working capital and cash of $84 million.
Oil and gas revenue for the year ended December 31, 2013 was $8.9 million, of which $8.0 million was oil and $0.9 million was gas, compared to $9.6…
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