BPZ Resources, Inc today announced reaching total depth on the sidetrack of the CX11-15D well in the offshore Corvina field in Block Z-1 in northwest Peru. The well has been logged, cased and cemented, and the Company is preparing to flow test and place the well into the ongoing long-term well testing program. Once the well has been completed the Company will provide further updates.
Manolo Zuñiga, President and Chief Executive Officer commented, “This well is located in a more updip location and should allow us to test for oil in the sands encountered in the original CX11-15D well bore. The electric logs are encouraging and continue to validate our geological model for Covina. We will provide additional information once the well is completed and starts producing under our long term oil testing program, while the prospective gas sands will remain behind pipe until needed for our gas-to-power project.”
About BPZ Energy
Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts 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 the development of the Corvina oil discovery, the redevelopment of the Albacora oil field, and the exploration of Block XIX, in parallel with, the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. 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.
Contact:
BPZ Resources, Inc
Greg Smith, 281-752-1240
Director of Investor Relations and Corporate Communications
source: yahoo
Manolo Zuñiga, President and Chief Executive Officer commented, “This well is located in a more updip location and should allow us to test for oil in the sands encountered in the original CX11-15D well bore. The electric logs are encouraging and continue to validate our geological model for Covina. We will provide additional information once the well is completed and starts producing under our long term oil testing program, while the prospective gas sands will remain behind pipe until needed for our gas-to-power project.”
About BPZ Energy
Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts 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 the development of the Corvina oil discovery, the redevelopment of the Albacora oil field, and the exploration of Block XIX, in parallel with, the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. 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.
Contact:
BPZ Resources, Inc
Greg Smith, 281-752-1240
Director of Investor Relations and Corporate Communications
source: yahoo
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