Attached files

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EX-10.1 - EX-10.1 - ZaZa Energy Corpa14-8995_1ex10d1.htm
EX-99.1 - EX-99.1 - ZaZa Energy Corpa14-8995_1ex99d1.htm
8-K - 8-K - ZaZa Energy Corpa14-8995_18k.htm

Exhibit 5.1

 

 

SIDLEY AUSTIN LLP

1000 LOUISIANA STREET

SUITE 6000

HOUSTON, TX 77002

(713) 495 4500

(713) 495 7799 FAX

 

BEIJING

BOSTON

BRUSSELS

CHICAGO

DALLAS

FRANKFURT

GENEVA

 

HONG KONG

HOUSTON

LONDON

LOS ANGELES

NEW YORK

PALO ALTO

SAN FRANCISCO

 

SHANGHAI

SINGAPORE

SYDNEY

TOKYO

WASHINGTON, D.C.

 

 

 

 

 

 

 

 

 

 

 

 

 

FOUNDED 1866

 

March 31, 2014

 

ZaZa Energy Corporation

1301 McKinney Street

Suite 6000

Houston, Texas  77022

 

Re:                             Registration Statement on Form S-3

 

Ladies and Gentlemen:

 

We refer to the Registration Statement on Form S-3, File No. 333-192257 (the “Registration Statement”), filed by ZaZa Energy Corporation, a Delaware corporation (the “Company”), with the Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”), as amended by Amendment No. 1 filed with the SEC on January 31, 2014, Amendment No. 2 filed with the SEC on February 12, 2014 and Amendment No. 3 filed with the SEC on February 14, 2014 (as so amended, the “Registration Statement”) that was declared effective on February 14, 2014.  Pursuant to the Registration Statement, the Company is issuing shares (the “Shares”) of its Common Stock, $0.01 par value per share, having an aggregate gross sales price of up to $10,000,000.  The Shares are to be sold by the Company pursuant to a sales agreement dated March 31, 2014 (the “Sales Agreement”) among the Company and the sales agent named therein.

 

This opinion letter is being delivered in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act.

 

We have examined the Registration Statement, the Sales Agreement, the Company’s certificate of incorporation and the resolutions adopted by the board of directors of the Company and the pricing committee thereof established by such board relating to the Registration Statement and the issuance of the Shares by the Company.  We have also examined originals, or copies of originals certified to our satisfaction, of such agreements, documents, certificates and statements of the Company and other corporate documents and instruments, and have examined such questions of law, as we have considered relevant and necessary as a basis for this opinion letter.  We have assumed the authenticity of all documents submitted to us as originals, the genuineness of all signatures, the legal capacity of all persons and the conformity with the original documents of any copies thereof submitted to us for examination.  As to facts relevant to the opinions expressed herein, we have relied without independent investigation or verification upon, and assumed the accuracy and completeness of, certificates, letters and oral and written statements and representations of public officials and officers and other representatives of the Company.  We have also assumed that there will be sufficient shares of Common Stock authorized under the certificate of incorporation of the Company and not otherwise issued or reserved for issuance.

 

Based on and subject to the foregoing and the other limitations, qualifications and assumptions set forth herein, we are of the opinion that the issuance and sale of the Shares covered by the Registration Statement pursuant to the Sales Agreement have been duly authorized by the Company, and such Shares will be validly issued, fully paid and non-assessable when certificates representing such Shares shall have been duly executed, countersigned and registered and duly delivered to the purchasers

 

Sidley Austin (TX) LLP is a Delaware limited liability partnership doing business as Sidley Austin LLP and practicing in affiliation with other Sidley Austin partnerships.

 



 

thereof against payment of the agreed consideration therefor in an amount not less than the par value thereof or, if any such Shares are to be issued in uncertificated form, the Company’s books shall reflect the issuance of such Shares to the purchasers thereof against payment of the agreed consideration therefor in an amount not less than the par value thereof, in accordance with the Sales Agreement.

 

This opinion letter is limited to the General Corporation Law of the State of Delaware.  We express no opinion as to the laws, rules or regulations of any other jurisdiction, including, without limitation, the federal laws of the United States of America or any state securities or blue sky laws.

 

We hereby consent to the filing of this opinion letter as an Exhibit to the Current Report on Form 8-K of the Company and to all references to our Firm included in or made a part of the Registration Statement.  In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.

 

 

Very truly yours,

 

 

 

/s/ Sidley Austin LLP

 

Sidley Austin LLP

 

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