ZaZa Energy Announces Agreement to Convert Its Entire $47.3M of Subordinated Notes into a Combination of Common and Preferred Stock

ZaZa Energy Corporation (NASDAQ: ZAZA ) today announced that in an effort to improve the balance sheet and capital structure of the Company, the three Founders of the Company have agreed to exchange $47.3 million of Subordinated Notes into a combination of shares of ZaZa common stock and a