BPZ Energy to Transfer Listing to New York Stock Exchange

BPZ Resources, Inc. announces that it has received authorization to transfer the listing of its common stock from the NYSE Amex to the New York Stock Exchange (NYSE). The Company anticipates trading of the common stock on the NYSE, under its current ticker symbol “BPZ,” will begin on October 26, 2009. Manolo Zuniga, President and Chief Executive Officer, commented, “The move to the... 

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BPZ Energy Announces Increases in Oil Reserves at the Corvina Field

BPZ Resources, Inc. announced that independent estimates by Netherland Sewell and Associates, Inc. (NSAI) as of December 31, 2008, for gross Proved (1P), Proved + Probable (2P) and Proved + Probable + Possible (3P) oil reserves from the Company’s Block Z-1 Corvina offshore field located in northwest Peru have increased 41%, 78% and 35%, respectively, as compared with the oil reserves reported by... 

BPZ Commences Drilling of CX11-15D Well in Corvina

BPZ Resources, Inc. announced the spudding of the CX11-15D well in the Corvina field in the Company’s offshore Block Z-1 in northwest Peru. The 15D will target the known oil and gas sands in an up dip position with the main objective of proving up a portion of the probable oil and gas reserves and giving the Company another oil producing well. The 15D is expected to be put on production in the first... 

IFC Provides Financing to Peru’s Oil and Gas Industry Amid Global Credit Crisis

IFC, a member of the World Bank Group, has disbursed a $15 million loan to BPZ Exploración y Producción SRL, supporting a growing Latin American oil and gas company in making use of Peru’s natural resources during a time of tight credit markets. BPZ Exploración y Producción is a Peruvian subsidiary of BPZ Resources, Inc. As the global financial crisis has made raising money difficult for the... 

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BPZ Energy Announces Senior Debt Funding of $15 Million from IFC

BPZ Resources, Inc. announced it has received funding of the $15 million tranche of senior debt with the International Finance Corporation (IFC). The IFC $15 million facility is the first tranche of two credit facilities totaling $215 million. As previously announced, Natixis, a French bank, has received credit committee approval to lead the second tranche of the senior debt consisting of a $200 million... 

BPZ Energy Announces Senior Debt Funding of $15 Million from IFC

BPZ Resources, Inc. announced it has received funding of the $15 million tranche of senior debt with the International Finance Corporation (IFC). The IFC $15 million facility is the first tranche of two credit facilities totaling $215 million. As previously announced, Natixis, a French bank, has received credit committee approval to lead the second tranche of the senior debt consisting of a $200 million... 

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BPZ Energy Successfully Tests Oil at 10,268 bopd from CX11-20XD

BPZ Resources, Inc. announces the oil test results from the CX11-20XD well in the Corvina field of the offshore Block Z-1 in Northwest Peru. The Company completed two drill stem tests (DST) on four sets of oil sands in the well testing a cumulative flow rate of 10,268 barrels of oil per day (bopd). Tests on the oil zones produced 100% oil with no water. The first DST achieved stabilized rates of 4,965... 

BPZ Energy Moves to NYSE and Changes Ticker Symbol to “BPZ”

BPZ Resources, Inc. announced that as a result of the merger between the American and New York Stock Exchanges (NYSE), the Company’s stock will be listed on the NYSE Alternext and has changed its ticker symbol to “BPZ”. The changes are effective with the opening of today’s trading. Manolo Zuñiga, BPZ Energy’s President and Chief Executive Officer commented, “Along with our new listing... 

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BPZ Energy Announces Approval of $200 Million Debt Facility

BPZ Resources, Inc. announced today that Natixis, a major French bank, has obtained approval from its Credit Committee to arrange and underwrite the $200 million tranche of the $215 million reserve-based lending facility, under the terms and conditions outlined in the Mandate Letter dated August 19th, as previously disclosed by the Company. As previously announced, the initial $15 million tranche was... 

BPZ Energy Announces Reaching Total Depth on CX11-20XD Well

BPZ Resources, Inc. announced the Company reached total target depth on the CX11-20XD well at the Corvina field in offshore Block Z-1 located in northwest Peru. The 20XD is the Company’s fifth well in the Corvina field and reached a total measured depth of approximately 9,800 feet (6,400 feet vertical depth). The well has been logged and testing will begin once the well has been cased. Internal estimates...