BPZ Energy Announces Plan for Accelerated First Oil Production in Peru

Inc. d/b/a BPZ Energy announced today that short term contracts have been finalized and signed with the commercial area of the Peruvian Navy to lease two tankers to transport oil to market earlier than scheduled. The two tankers leased from the Navy each have capacity of approximately 6,000 barrels. With the current production facilities and these two tankers, the Company expects to produce approximately 2,500 barrels of oil per day (bopd) beginning in early November barring any unforeseen circumstances.