ZAZA ENERGY CORP

CUSIP: 98919T100 Class: CMN

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

Note: Option positions (PUT/CALL) are excluded.

Q2 2014
Shares 34,300 Value ($000) $30 Avg Close — Range —
Q1 2014
Shares 34,300 Value ($000) $26 Avg Close — Range —
Q4 2013
Shares 34,300 Value ($000) $33 Avg Close — Range —
Q3 2013
Shares 34,300 Value ($000) $39 Avg Close — Range —
Q2 2013
Shares 34,300 Value ($000) $41 Avg Close — Range —