July

• BPZ announced that its subsidiary, BPZ Exploracion & Produccion S.R.L., has secured commitments for a $70 million reserve based credit facility.

June

• BPZ announced that it closed its previously announced sale of approximately 18.8 million shares of its common stock at $4.66 per share in a registered offering of common stock.

April

• BPZ announced that International Finance Corporation (IFC), the Company's largest shareholder, has exercised its preemptive right related to the recently announced February 2009 private placement to purchase 1.4 million shares of the Company's common stock resulting in gross proceeds of approximately $4.4 million.

February

• BPZ announced that it closed the previously announced private placement of common stock for gross proceeds of approximately $43.6 million.
• BPZ announced that its total net proved reserves as of December 31, 2008 consisted of 17.1 million barrels of crude oil (Mmbo).

January

• BPZ announced the signing of a new crude oil sales contract with PetroPeru for approximately 17 million barrels of oil, with an estimated total contract value of $1.3 billion.