BPZ has added pay in Albacora A-27D offshore Peru

BPZ Energy’s Albacora A-27D development well at block Z-1 offshore Peru has tested at a production rate of 1,135 b/d of oil over a 10-day period.

Jan 23rd, 2015

Offshore staff

HOUSTON –BPZ Energy’sAlbacora A-27D development well at block Z-1 offshore Peru has tested at a production rate of 1,135 b/d of oil over a 10-day period.

A-27D was drilled to a TD of 14,500 ft (4,420 m). For the last 24 hours, the well has averaged production of approximately 905 b/d of oil, 3,700 Mcf/d of gas, and 2 b/d of water. Gas is mostly reinjected, lacking a local commercial market. The well is producing better than previous recent wells due to additional pay opened in the Lower Zorritos sands.

Given the positive results of the A-27D, the new Albacora A-22D development well was spudded on Jan. 10 with a target measured depth of 14,445 ft (4,403 m), which will also test the Mid and Lower Zorritos sands. Results are expected in April.

The company holds a 51% participation in block Z-1.

The Corvina CX15-8D development well is being completed with results expected in February. The 8D well location helps extend theCorvina field to the southwest.

01/23/2015

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