BPZ Receives EWT Permit for Corvina Field Well

Block Z-1
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BPZ Resources received an Extended Well Testing permit and corresponding gas flaring permit for the CX11-17D well in the Corvina field in Block Z-1. The permit is valid through Nov. 30, 2010. The allocated amount of gas to be flared should allow BPZ to continue producing the well under the same conditions as before, for most, if not all, of the EWT period on the field, stated the operator. On the date of the permit's expiration, the field is expected to transition into commercial production status. The Corvina oil and gas field is situated in the offshore Block Z-1 in northwest Peru. BPZ Energy acquired a working interest in Block Z-1 in 2001 and became operator with a 100% interest in the license in 2004.

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