October 22, 2016 6:38 PM ET

Oil, Gas and Consumable Fuels

Company Overview of BPZ Resources, Inc.

Company Overview

BPZ Resources, Inc., doing business as BPZ Energy, develops, explores, and produces oil and natural gas in Peru and Ecuador. It owns license contracts for oil and gas exploration and production covering approximately 1.9 million net acres in 4 blocks located in northwest Peru and off the northwest coast of Peru in the Gulf of Guayaquil. The company also owns a 10% non-operating net profits interest in the Santa Elena property, an oil and gas producing property located in the southwest region of Ecuador. The company was founded in 2001 and is headquartered in Houston, Texas. On March 9, 2015, BPZ Resources, Inc. filed a voluntary petition for reorganization under Chapter 11 in the US Bankrupt...

580 Westlake Park Boulevard

Two Westlake Building

Suite 525

Houston, TX 77079

United States

Founded in 2001

100 Employees





Key Executives for BPZ Resources, Inc.

Chief Legal, Commercial & Administrative Officer and Corporate Secretary
Age: 56
Director of Investor Relations & Corporate Communications
Compensation as of Fiscal Year 2016.

BPZ Resources, Inc. Key Developments

BPZ RES INC’s Common Shares Undefined Deleted From Other OTC

BPZ RES INC’s common shares undefined have been deleted from Other OTC, effective January 4, 2016. The deletion was due to bankruptcy plan effective/shares cancelled.

BPZ Resources Files Form 15

BPZ Resources, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock, no par value per share under the Securities Exchange Act of 1934, as amended.

Second Amended Liquidation Plan & Disclosure Statement Approved on Final Basis for BPZ Resources, Inc.

The US Bankruptcy Court approved the second amended plan of liquidation of BPZ Resources, Inc. on November 12, 2015. The Court has also approved the second amended disclosure statement on final basis. As per the approved plan, administrative claims of $5.37 million, professional fees of $9.50 million, priority tax claims of $0.02 million and priority non-tax claims of $0.03 million shall be paid in full in cash. Secured Claims will be paid in full in cash. General Unsecured Claims of $227.03 million will have a recovery of 10.7% and convenience claims of $1.79 million shall receive 20% in cash. Unsecured claimholders who reduce their claims to $3000, will be paid in cash a one-time payment equaling 20% of the claims. Subordinated Claims and Intercompany Claims will not receive any distribution under the plan. Equity Interests will be cancelled and the holders will not receive any distribution. The plan will be funded by cash in hand and sale of assets.

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