Today we feature ZaZa Energy Corp (NASDAQ: ZAZA), an oil and natural gas explorer, as the top momentum gainer since the stock climbed more than 11% during the last two consecutive trading days with far more shares changing hands than in a normal session. During the previous trading session, ZAZA was the top gainer in the Canadian energy space having gained 42.3% breaking the short term 30-day & 50-day DMA’s (Daily Moving Average) at $0.54 and $0.65 respectively. The closed at $0.68 while recording significant volumes of 1.23 million shares. During the past 5-trading sessions, ZAZA gained 62.2% with daily average trading volumes of 515,211 shares while, the stock accumulated over 14% in the past month with daily average trading volumes of 277,152 shares.
The stock surged after the company reported that for Q1’14, total revenues and other income increased 7.1% to $3.0 million over the comparable 2013 period. This increase was primarily due to the acquisition of producing properties through its joint venture in East Texas, offset by the divestiture of non-core assets in South Texas. During the quarter, the company’s oil equivalent increased to 57,954 BOE compared to 34,364 BOE in the same quarter last year.
Company Description:
ZaZa Energy Corp (NASDAQ: ZAZA) explores for oil and natural gas. The company operates in the Eagle Ford/Eaglebine Basin in Texas. ZaZa relies on open-hole logging technology, the integration of core and sample laboratory measurements, micro-seismic data and hydraulic fracture technology.
1-Year Stock Chart:
Source: Bloomberg
