BPZ Energy

BPZ Energy is an oil and gas exploration and production company with license contracts covering approximately 1.9 million net acres in four properties in northwest Peru. At offshore Block Z-1, development drilling is currently underway at the Corvina and Albacora oil fields in partnership with Pacific Rubiales Energy Corp. Onshore, where BPZ holds 100% interests in three blocks, exploration drilling is currently underway at Block XXIII. Part of the Company's integrated gas-to-power strategy includes the potential generation and sale of electric power in Peru. In southwest Ecuador, the Company also owns a non operating net profits interest in a producing property.

Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.4 million acres in four Blocks in northwest Peru. The Company is currently developing the Corvina oil field in offshore Block Z-1 as well as the redevelopment of the Albacora oil field approximately 16 miles north of the Corvina field. The first well in Albacora will be spud late third quarter 2009. The Company is also executing a gas-to-power strategy to monetize the natural gas in the Corvina field. A potential partnership is being negotiated for the generation and sales of electricity in Peru. BPZ Energy is a rapidly growing company with proved reserves, a stable balance sheet, and world class assets.