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  "documentTitle": "Hess Corporation (HES)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott Management",
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  "presentationDate": "2013-01-29 00:00:00",
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  "notes": "The slide uses a 'villain' framing for ZaZa Energy and highlights specific financial losses to demonstrate management incompetence.",
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      "text": "ZaZa Joint Venture: Entered into contract with economic incentives that predetermined failure",
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      "text": "Prior attempts to enter resource plays: Marcellus, Paris Basin, Eagle Ford.",
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      "text": "ZaZa Joint Venture: Entered into contract with economic incentives that predetermined failure.",
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      "text": "Capital Wasted: $100mm+",
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      "text": "Sources: Hess and ZaZa Company Filings",
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      "text": "Capital Wasted in ZaZa JV vs Where the Capital Went",
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      "text": "Management Failed in Other Attempts to Enter Resource Plays",
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