I have mineral rights in northeast Lavaca Cty south of CR270. I talked to ZaZa landman in January and he said they were selling their leases as a whole and not renewing ones like ours that expired in Dec 2012. He said that the buyer will contact all properties to renegotiate those that had expired. Any one know anything about this?
I can't help you, but several people with interests around Oakland, Hackberry, and Breslau follow this: http://www.mineralrightsforum.com/forum/topics/cypress-sanchez-leases-in-eastern-fayette-lavaca-counties?commentId=4401368%3AComment%3A343414&xg_source=msg_com_forum
Greg, I have'nt heard a word in a good long while. My leases are in what you could call the "Hackberry Prospect". My leases with SEV, are up in the fall. I thought when they, (SEV) drilled the four wells south of nearby Moravia, that they were a front for a big player, but I guess not. I believe we are just a little to far to the East right now. I also believe that we are in the Liquids Rich area. Right now they are only interested in the Oil Rich areas, IMO. If anybody out there has heard anything, or got a call, or mail from a company, please write something here, or lets talk offline if you want. Hopefully somebody will pick up our leases before they run out, but I'm not holding my breath.........
The below was posted on the eagleford forum. You might want to go online and see what ZAZA has on there official site. Best of luck.
ZaZa Energy LLC, a wholly-owned subsidiary of ZaZa Energy Corp. (Nasdaq: ZAZA), has entered into a new purchase and sale agreement with an independent third party to sell ~10,300 net acres of the company's properties located in Fayette, Gonzalez and Lavaca counties in Texas, which the company refers to as its Moulton properties in the Eagle Ford. The total cash purchase price for the ~10,300 net acres is ~$28.8 million. As part of the agreement, ZaZa has received a down payment of $1.4 million. The closing of the sale is expected to occur on or before July 31, 2013 and is subject to normal closing conditions.
In conjunction with today's announcement, ZaZa also disclosed that it has terminated its purchase and sale agreement with the original purchasing party as this party was unable to fund and close the transaction.
Commenting on the announcement, Todd A. Brooks, president and chief executive officer of ZaZa, stated, "Given the current landscape, we believe that transacting at this metric was the best and most prudent action for the company at this time. We remain focused on monetizing select Eagle Ford assets in order to improve our balance sheet and we are currently pursuing other joint ventures in the area. In the Eaglebine, our joint venture is progressing as planned and we anticipate timely drilling of the first three wells as part of the agreement."