BPZ Kicks Off Corvina Appraisal Drilling Offshore Peru

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Peru's Block Z-1
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BPZ Resources has commenced drilling of the next appraisal and development well in the Corvina field in offshore Block Z-1 in northwest Peru. The 19D is a step out to the 21XD, the original oil discovery well completed in 2007. The 19D is being drilled in an up dip location and as such should also allow us to continue appraising Corvina.

The Company will implement a well design on the 19D to minimize the wellbore deviation inside the target formation. This design should allow for proper cementing of the well to help alleviate the previous gas channeling issues encountered in the previous two high angle wells. The Company plans to have the well completed near year-end.

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