BPZ Energy Comments on Peru Earthquake.

HOUSTON -- (AMEX:BZP) BPZ Energy, Inc. announced today that the Company's operations in northwest Peru were not affected by the earthquake that struck south of the capitol city of Lima. The Company operates in the Tumbes region approximately 850 miles north of Lima and approximately 950 miles from the quake's epicenter. Drilling operations have not been affected and Frederic Briens, Chief Operations Officer, noted the quake was not felt in the area where the Company is drilling. Likewise, the Company's administrative office in Lima did not incur any damage or disruption to its operations.

Manolo Zuniga, President and Chief Executive Officer, said, "Fortunately, the earthquake has not affected our drilling operations and we have reports that the earthquake was not felt by our drilling operations team in the northwest region of Peru. Accordingly, the Company is continuing operations as normal in Peru. However, we continue to keep the people of Peru who are affected by this earthquake in our thoughts and prayers. While most of the buildings in Lima are built to withstand this magnitude of earthquake, we know that south of Lima, near the town of Pisco, where the earthquake was centered there has been extensive damage."

About BPZ Energy, Inc.

Houston based BPZ Energy, Inc. is an oil and gas exploration and production company which 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 minority working interest in a producing property in southwest Ecuador. The Company is currently 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, in parallel with the development of the Corvina oil discovery and the redevelopment of the Albacora oil field. 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.