BPZ Energy Files Shelf Registration Statement

BPZ Resources has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission. The shelf registration statement, once declared effective, will permit, but not obligate, the Company to sell, in one or more public offerings, shares of newly issued common stock, warrants, or debt securities, or any combination of such securities, for proceeds in an aggregate amount of up to $266 million. The terms of any future offerings under the shelf registration will be determined at the time of the offering and will be stated in a prospectus supplement.

The net proceeds from any future offerings pursuant to the Form S-3 registration statement could be for general corporate purposes, including without limitation, reduction or refinancing of debt or other corporate obligations, capital expenditures and for working capital. At this time, the Company has no immediate plans to offer or sell any securities under the registration statement.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Upon effectiveness of the registration statement, the Company may periodically offer one or more of these securities in amounts, prices and on terms to be announced when and if the securities are offered. At the time any of the securities covered by the registration statement are offered for sale, a prospectus supplement will be prepared and filed with the Securities and Exchange Commission containing specific information about the terms of any such offering. When available, such a written prospectus may be obtained by contacting the underwriters who will be named in any such prospectus supplement or by contacting BPZ Resources, Inc., 580 Westlake Park Blvd., Suite 525, Houston, Texas, 77079, Attn: Investor Relations.

Manolo Zuniga, President and Chief Executive Officer stated "This shelf registration is another important step for BPZ Energy, as it will provide the Company with flexibility to fund its growth. Everything we do to build this company will be done step-by-step, and always in the best interest of our shareholders."


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