Replies to post #2370 on BPZ Res. Inc. (fka BPZRQ)

[disk88]

The board and management of Bpz are history.
The creditors committee and the trustee will decide the faith of this
company; they will control the company , appoint new board and management
and merge BPZ with another oil company .
The natural choice Pacifc Exploration (Pacific Rubiales) that owns 49%
of block Z-1 and is the responsible for the increase in production.
The debtor(bpz) requested a new hearing for october 23 and the Committee
requested another hearing for october 26 regarding the service of
Blackstone Advisory Partners.
If funding is needed that's were Blackstone come's in.
Who owns the blocks??? Not Bpz , Peru owns the blocks Peru decides
to whom the blocks will be awarded and without the blocks no deal or sale
will go through.

[ofirm]

Last year the operating expenses were less than $30/bbl. that was
including injecting back the ng and dividing all the opex by
oil only.
BK cost is a different item that will need to be reviewed and
approved later by the judge before it will get paid.

[C C]

BPZRQ is getting 3 % value on assets at BK auctions
hardly enough to pay bills as stated in Q reports
to keep doors open it costs $ 6 million a month
not counting the cost of BK expenses
management got paid $ 3 million in management expenses in one month to evaluate BK procedures
that means it costs $ 9 million that month to keep doors open....not counting court costs and miscelaneous expenses....could cost over $ 14 million that month to keep doors open....counting attorney fees, court costs and outside consulting fees

oil revenues are hardley enough to pay these kind of bills



cc