December

• BPZ Energy, Inc. signed a contract with Petrex S.A., the Latin American subsidiary of Saipem SpA of Italy, a worldwide drilling and construction company of ENI Group, for a platform rig capable of drilling to 16,000 feet.
• BPZ Energy, Inc. announced the signing of a 24-month drilling contract with Petrex S.A., a South American subsidiary of Saipem SpA of Italy, to start the drilling campaign in the Company’s 100%-owned Corvina gas field located in the offshore Block Z-1 in northwest Peru.
• BPZ Energy, Inc. announced that it has been working on the redevelopment of the Albacora oil field, located offshore in the northern part of the Z-1 block.
• BPZ Energy, Inc. (OTCBB: BPZI), today announced that it has exercised its exclusive option to convert the current Technical Evaluation Agreement (“TEA”) in Area VI in Northwest Peru to a License Contract for the exploration and development of hydrocarbons.

October

• The Company recently signed a Memorandum of Understanding with Ecuador’s Ministry of Energy and Mines under which the Ministry has pledged its full support behind BPZ’s plans to export gas to Arenillas, Ecuador.

August

• BPZ Energy signed a Memorandum of Understanding for a Power Purchase Agreement with Luz del Sur, one of the largest power distribution companies in Peru
• BPZ Energy awarded the turnkey contract for the engineering, procurement and construction (EPC) of its power plant project in northwest Peru to BTEC Turbines LP of Houston

July

• BPZ Energy completed a private placement of common stock to accredited investors for gross proceeds of $34.4 million ($31.8 million net). Morgan Keegan & Co. served as placement agent

May

• BPZ Energy signed a Mandate Letter with the International Finance Corporation ("IFC"), a member of the World Bank Group based in Washington, D.C. for a potential financing of up to $70 million.

March

• BPZ Energy signed a third preliminary agreement for gas sales to an electric generation company in Arenillas, Ecuador.

February

• The Peruvian Government officially designated BPZ Energy as operator of offshore Block Z-1, with 100% interest in the block.