BPZ Energy, Inc.

BPZ Energy, a Texas corporation established in 2001, has grown quickly as an independent petroleum firm operating internationally. By the end of 2004 the Company had certified reserves of natural gas totaling 938 Bcf (billion cubic feet, proved and probable) plus 3, 080 Bcf possible, for a certified total of more than 4 Tcf (trillion cubic ft). In NW Peru, BPZ has 3 blocks under contract, two of them with the rights to explore and produce, and is negotiating to acquire those rights for the other. These blocks cover 2.76 million acres in area, with 73% onshore and the remaining 27% offshore. In Ecuador, BPZ has a 10% participation in a producing block on the southwestern coast.

In 2004 BPZ became a publicly traded corporation. From its inception, BPZ Energy's objective has been to use advanced technology in a cost-effective and environmentally friendly manner while becoming a progressive operator in international energy ventures. In all its projects the Company focuses on strategic approaches devised to take advantage of the particular conditions of each project.