UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 22, 2013
ZAZA ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware | | 001-35432 | | 45-2986089 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
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1301 McKinney Street, Suite 2850 Houston, Texas | | 77010 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (713) 595-1900
NOT APPLICABLE
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement.
On March 22, 2013, we entered into an agreement with BEP Moulton, LLC to sell approximately 10,000 net acres of our properties in the Eagle Ford trend located in Fayette, Gonzalez and Lavaca Counties, Texas, which we refer to as our Moulton properties, including seven producing wells located on the Moulton properties, for approximately $43.25 million in cash. The agreement contains customary representations and warranties and covenants of the parties, customary closing conditions, and customary closing price adjustments. The closing of the sale of the Moulton properties is expected to occur during the second quarter of 2013, and net proceeds from the sale, after closing purchase price adjustments and expenses, are expected to be approximately $42 million. There can be no assurance that this transaction will be consummated. We intend to use these net proceeds to fund a portion of capital expenditures for exploration on our other properties and/or to repay indebtedness.
Item 7.01. Regulation FD Disclosure
On March 25, 2013, the Company issued a press announcing its entry into the agreement to sell certain of its Eagle Ford properties. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in this Section 7.01 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing.
Item 9.01 Financial Statements and Exhibits
Exhibit No. | | Description |
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99.1 | | Press Release dated March 25, 2013 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | | ZAZA ENERGY CORPORATION |
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Date: March 25, 2013 | | | | By: | | /s/ TODD A. BROOKS |
| | | | | | Name: | | Todd A. Brooks |
| | | | | | Title: | | President and Chief Executive Officer |
EXHIBIT INDEX
Exhibit No. | | Description |
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99.1 | | Press Release dated March 25, 2013 |
