Shares of ZaZa Energy Corp (NASDAQ: ZAZA), engaged in the exploration of oil and natural gas, registered over a 39.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. ZAZ was the top performer in the U.S energy sector after climbing 39.2% and closed at $4.15 Wednesday, while recording significant trading volumes of 3.1 million shares. ZAZA breached its key technical resistance level of 30-Day DMA at $3.41. Recently, the company announced its production of oil that is equivalent to 507,700 barrels from its Toby No. 1, Grisham No. 1 and Laura No. 1 wells in western Texas during their first year of operations ended Sept 30. During the past 5-trading sessions, ZAZA gained 125.5% with daily average trading volumes of 909,392 shares, while the stock accumulated 0.2% gain during the past one month with daily average trading volumes of 196,769 shares.
Company Description:
ZaZa Energy Corporation (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
