ZaZa, Toreador Finalize Merger

ZaZa Energy Corporation has completed the combination of Toreador Resources and ZaZa Energy LLC, creating an international resource-focused exploration and production company. ZaZa's portfolio includes producing and exploration assets in the Eagle Ford and Eaglebine resource plays in Texas and the Paris Basin in France. In the merger, each share of Toreador was converted into one share of ZaZa common stock.

As previously disclosed, ZaZa's new Board of Directors includes five independent directors and four executive directors. The independent directors are: Travis Burris, Bernard de Combret, Adam Kroloff, Herbert Williamson and Fred Zeidman. The executive directors are: Todd Brooks, John Hearn, Gaston Kearby and Craig McKenzie. Fred Zeidman will serve as the non-executive Chairman of the Board. Craig McKenzie will serve as President and Chief Executive Officer, and Charles Campise will serve as the Company's Chief Financial Officer.

ZaZa today also announced that it has issued senior secured notes with a principal amount of $100 million maturing in 2017 (the "Notes") in a private placement to a group of investors led by MSD Energy Partners, L.P. and Senator Investment Group LP. The Notes bear interest at a rate of 8 percent per annum, payable quarterly. In connection with the issue of the Notes, ZaZa also issued to the investors warrants to purchase an aggregate of approximately 26.3 million shares of ZaZa common stock at $3.15 per share (the "Warrants"). The Warrants expire in five years and are exercisable at any time after the six month anniversary of the issuance date. The Company intends to use the net proceeds of the Notes to fund acreage acquisitions, drilling programs, the repayment of certain existing debt, costs associated with the merger and for general corporate purposes.

The Company also noted that the original ZaZa equity holders ("Holders") have entered into agreements to sell approximately 8.3 million shares of ZaZa common stock in private resales to certain institutional investors, which will bring their pro forma ownership to approximately 67.9 million shares. These transactions will be disclosed by the Holders through appropriate regulatory filings.

Craig McKenzie, President and Chief Executive Officer of ZaZa, said, "We are pleased to have completed both the corporate combination and the new financing. ZaZa is poised to develop a unique asset portfolio of approximately 500,000 net acres in two world-class resource basins. Our goal is to provide immediate and sustainable production in the Eagle Ford and Eaglebine plays in Texas, while also progressing our position in the Paris Basin, France, where we have an attractive exposure to a very large oil resource. We look forward to realizing the significant potential of our compelling growth platform for the benefit of all stakeholders."

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