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[straitneom]

BPZ's revenue producing asset is a license contract with Perupetro S.A.(“Perupetro”), a corporation owned by the Peruvian government. Important interest are in play from both sides and Peruvian government cannot permit that the company will not survive. Another important point is BPZ is a holding company that operates through various subsidiaries in Texas, Peru, and Ecuador.But, the subsidiaries were not put into BK.