BZP Resources (BZP)

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BZP .......Big ALERT... OIL AMEX Company .....win 500% .... Peruvian Goverment Lobby and WORLD BANK FINANCIER ..... TARGET 50$


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BZP Resources WORLD BANK HOLD 10% of the Company.

BPZ currently holds four blocks in northwest Peru totaling 2.76 million acres, and has a participating interest in a block of nearly 300,000 acres in southwest Ecuador. Of the four blocks in Peru, two are under license contract in the Tumbes basin (one onshore, one offshore). The other two blocks are onshore and held under technical evaluation agreements with the option of converting them to license contracts.

BPZ Energy USA will produce 8,000 bpd in July 08 'Peru


13 Dec 2007 15:08


LIMA, Dec. 13 (Reuters) - The American BPZ Energy will produce about 8,000 barrels per day of crude oil from July 2008 in a reserve located on the north coast of Peru and sees great potential in exploiting its gas field, said on Thursday, an executive.

BPZ Energy owns granting lots of oil XIX, XXII, XXIII and Z-1 in the regions of Tumbes and Piura in northern Peru, both bordering Ecuador.

"By the middle of next year we will be at 8,000 barrels, which is a good thing (...) These wells are new and are performing very well," told reporters the chief executive of BPZ, Manuel Zñiga.

The executive explained that the oil wells that produce from 23 degrees API will be "light and good quality" to mean the area.

Currently, the firm produces testing about 2,000 barrels per day (bpd), which he hoped would increase gradually over the next year when complete exploitation of four wells in lot Z-1, located off the coast of Piura.

For the 2008 signing aspires realize further two loans from the International Finance Corporation, the financial arm of the World Bank for private sector dependent, for 150 million dollars, which will be used to operate three gas wells in lot Z-1 and build a power plant of 160 megawatts, which will be fed by the reservoir.

"There are two outstanding loans, one of 35 million and another 115 million. To 35 will be to continue drilling and the 115 will be for the electric plant. Hopefully That close to half a year before and hence we green light for the construction of the plant, "he added Zñiga.

The executive estimated that the power plant would begin operating "12 months later" granted the loan and require a supply of about 40 million cubic feet of gas per day.

Zuñiga referred to the exploration of other areas of lot Z-1, as Albacore, plus lots XIX and XXIII increase its production of oil and gas.

"By mid-2009 our goal is to have 8,000 bpd in (the field of) Corvina, 8,000 bpd in Albacore and 40 million cubic feet (gas)," said.

Preliminary studies conducted by BPZ in their lots allow glimpse a future "important" for the exploitation of natural gas in this region of Peru, he added Zñiga.

"We hope in the next two or three years to be there for petrochemicals, for the Talara refinery, to agribusiness," he said.


BPZ Energy Inc., based in Houston, operates in Peru since 2002 through the signing local BPZ Exploration and Production.


Fuente: Reuters


BPZ Resources, Inc., d/b/a BPZ Energy (AMEX:BZP) today announced the signing of two new license contracts for exploration and production of hydrocarbons, thus obtaining exclusive rights to Blocks XXII and XXIII located in northwest Peru.

Mr. Zúñiga stated: “This is a big day for BPZ Energy and for Peru. To have this kind of event here at the Presidential Palace is truly amazing. I was deeply honored to have the opportunity to speak before President Garcia, the leaders and management of Perupetro and on behalf of the various companies signing license contracts. As a native of Peru, I wanted to stress that BPZ Energy has been doing the right things here since the beginning of our operations to develop hydrocarbons, and to give back to the people and communities of Peru.” Mr. Zúñiga continued, “These two new license contracts will now allow us to implement the geologic models we have been developing during the past few years. We look forward providing more details on these two blocks as they become available.”

License contracts were signed by companies from seven countries; such as Pacific Stratus Energy and Talisman from Canada; BPZ Energy, Hunt Oil, Occidental Oil and Gas, and Vetra Peru from the United States; Ecopetrol from Colombia; Petro-Tech Peruana from Peru; Pan Andean Resources from Ireland; ZSN PE from Russia; PVEP Peru from Vietnam; and SK Energy from Korea. The 18 contracts signed during the ceremony were a record for Perupetro during any single event. Additional information on the latest licensing round in Peru can be found at www.perupetro.com.pe.



The license contracts were signed on Wednesday November 21, 2007 in a ceremony at the Presidential Palace hosted by the President of Peru, Mr. Alan Garcia. Present at the ceremony were representatives from 12 companies who signed 18 such license contracts for exploration and production of hydrocarbons in Peru. During the ceremony, broadcasted nationally on television and radio in Peru, President Garcia noted the companies involved would be investing in Peru’s economic growth and that the country welcomed this type of investment. Also, Manolo Zúñiga, President and Chief Executive Officer of BPZ Energy, was asked to address the attendees and the national television and radio audiences. Mr. Zúñiga stressed that each company in attendance has not only been afforded an opportunity, but a larger responsibility to do business the right way in Peru. He also applauded the leaders and staff at Perupetro, noting that they are very accessible and ready to assist all companies to promote each company’s success.

The signing of Block XXII and Block XXIII completes the approximately 2.4 million acres, in conjunction with Blocks Z-1 and XIX, the Company initially plans to develop in northwest Peru.

Block XXII

This block covers approximately 948,000 acres and is located onshore in the Lancones basin, although its southern sector also covers the productive Talara basin of northwest Peru, near the Talara Refinery. During the initial seven-year exploration phase the company has committed to shoot 200 km of 2D seismic and drill 4 exploration wells. The term of the license contract is for 30 years in the case of oil and 40 years in case of gas. Royalties start at 15% if and when production is less than 5,000 barrels of oil equivent per day (boepd) and are capped at 30% if and when production surpasses 100,000 boepd.

Block XXIII

This block covers approximately 248,000 acres and is located onshore between the Company’s offshore Block Z-1 and onshore Block XIX in northwest Peru. This block is located in the Tumbes basin, although in its southern section Talara basin sediments maybe found deeper. The term and royalties are similar to those of Block XXII. During the initial seven-year exploration phase the company has committed to shoot 400 km of 2D seismic, 600 square km of 3D seismic, and drill 4 exploration wells.

Mr. Zúñiga stated: “This is a big day for BPZ Energy and for Peru. To have this kind of event here at the Presidential Palace is truly amazing. I was deeply honored to have the opportunity to speak before President Garcia, the leaders and management of Perupetro and on behalf of the various companies signing license contracts. As a native of Peru, I wanted to stress that BPZ Energy has been doing the right things here since the beginning of our operations to develop hydrocarbons, and to give back to the people and communities of Peru.” Mr. Zúñiga continued, “These two new license contracts will now allow us to implement the geologic models we have been developing during the past few years. We look forward providing more details on these two blocks as they become available.”

License contracts were signed by companies from seven countries; such as Pacific Stratus Energy and Talisman from Canada; BPZ Energy, Hunt Oil, Occidental Oil and Gas, and Vetra Peru from the United States; Ecopetrol from Colombia; Petro-Tech Peruana from Peru; Pan Andean Resources from Ireland; ZSN PE from Russia; PVEP Peru from Vietnam; and SK Energy from Korea. The 18 contracts signed during the ceremony were a record for Perupetro during any single event. Additional information on the latest licensing round in Peru can be found at www.perupetro.com.pe.

About BPZ Energy


Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.4 million acres in four properties in northwest Peru. It also owns a minority working interest in a producing property in southwest Ecuador. The Company is currently executing an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and sales of gas into Ecuador for third-party power generation, in parallel with the development of the Corvina oil discovery and the redevelopment of the Albacora oil field. The Company’s website at www.bpzenergy.com provides additional information about the Company’s plans, including photographs and other information with respect to its operations.

Forward Looking Statements

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 27E of the Securities Exchange Act of 1934. These forward looking statements are based on our current expectations about our company, our properties, our estimates of required capital expenditures and our industry. You can identify these forward-looking statements when you see us using words such as "expect," “will”, "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward looking statements. Such uncertainties include the success of our project financing efforts, including final documentation and execution of debt financing documents with IFC, accuracy of well test results, well refurbishment efforts, successful production of indicated reserves, and the successful management of our capital development project and other normal business risks. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.

U.S. investors are urged to consider closely the disclosure in our SEC filings, available from us at 580 Westlake Park Blvd., Suite 525 Houston, Texas 77079; Telephone: [phone]. You can also obtain these filings from the SEC by calling 1-800-SEC-0330.


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