Zappa Resources (TSX.V:ZPA) Rides Coat Tails to Potential Permian Reef Oil Discovery

By Katherine Young April 15, 2007 Zappa Resources (TSX.V:ZPA) is a junior resource company with projects in Canada, the U.S. and now, Tunisia. Early in March 2007, Zappa signed a letter of intent to enter into a “farm-in participation agreement” with Pennine Petroleum on the Jorf concession petroleum property in Tunisia. The opportunity, says Albert Gerry, President and CEO, has “large elephant” potential that has caught the enthusiasm of the investing public and propelled Zappa’s stock, which was at less than ten cents a share in February, up to twenty-two cents a share today. The deal involved Zappa paying US $250,000 upfront to pay for its share of a seismic program, while paying for 15% of drilling and developing costs. In return, Zappa receives 10% wor View the rest of this article