BPZ, Shell discontinue Peru farm-out agreement

BPZ Resources and Shell Exploration have mutually agreed to discontinue discussions on the farm-out agreement as conceptualized in a non-binding Memorandum of Understanding (MOU).

Offshore staff

HOUSTON -- BPZ Resources and Shell Exploration have mutually agreed to discontinue discussions on the farm-out agreement as conceptualized in a non-binding Memorandum of Understanding (MOU).

BPZ Energy will maintain its 100% working interest in blocks Z-1, XIX, and XXIII, as well as block XXII which was not part of the proposed transaction, all of which are located offshore Peru.

01/09/2009

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