BPZ Energy Announces CX11-21XD Gas Well at Total Depth - Completion Operations Underway.HOUSTON Houston, city (1990 pop. 1,630,553), seat of Harris co., SE Tex., a deepwater port on the Houston Ship Channel; inc. 1837. Economy The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; -- BPZ BPZ Below-the-Primary Zone Energy, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BPZI) announced today that the Company's first well in the Corvina cor·vi·na n. Variant of corbina. Gas Field is at total depth. The CX11-21XD well reached total depth of 10,457 feet (9,234 feet true vertical depth) on November November: see month. 14, 2006. Multiple prospective gas pay zones have been encountered in the Zorritos formation. Logging, completion, and testing procedures have commenced, and are expected to take between 15 and 30 days. Manolo ZE[bar]Eiga, President and Chief Executive Officer, stated: "This is an important milestone for BPZ Energy. The successful drilling of our first well in the Corvina Gas Field demonstrates our technical capabilities and is a critical step in validating val·i·date tr.v. val·i·dat·ed, val·i·dat·ing, val·i·dates 1. To declare or make legally valid. 2. To mark with an indication of official sanction. 3. the Corvina Gas-to-Power project. Preliminary indications are excellent. After logging and completion operations are concluded, comprehensive testing of the gas producing sands will occur. We will continue to update shareholders on a regular basis." About BPZ Energy Houston-based BPZ Energy, Inc. is an oil and gas exploration and production company with properties in northwest Peru and southwest Ecuador. It is executing an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and sales of gas into Ecuador for third-party power generation. BPZ has exclusive rights and license agreements for oil and gas exploration and production covering approximately 2.4 million acres in four properties in northwest Peru. It also owns a working interest in a producing property in southwest Ecuador. The Company's website at www.bpzenergy.com provides additional information about the Company's plans, including photographs and other information with respect to its operations. This Press Release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. based on our current expectations about our company, our properties, our estimates of required capital expenditures and our industry. You can identify these forward-looking statements when you see us using words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements. Such uncertainties include the success of our project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. efforts as well as the successful management of our capital development project and other normal business risks. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements. |
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