BPZ Reaches Total Depth at Offshore Corvina Sidetrack in Peru

BPZ Resources announced reaching total depth on the sidetrack of the CX11-15D well in the offshore Corvina field in Block Z-1 in northwest Peru. The well has been logged, cased and cemented, and the Company is preparing to flow test and place the well into the ongoing long-term well testing program. Once the well has been completed the Company will provide further updates.

Manolo Zuniga, President and Chief Executive Officer commented, "This well is located in a more updip location and should allow us to test for oil in the sands encountered in the original CX11-15D well bore. The electric logs are encouraging and continue to validate our geological model for Covina. We will provide additional information once the well is completed and starts producing under our long term oil testing program, while the prospective gas sands will remain behind pipe until needed for our gas-to-power project."