BPZ Energy has received necessary permit to begin operations at the new CX-15 platform at the Corvina Field. In addition, the Company provided financial and operational results for the three and nine months ended September 30, 2012.

President and CEO Manolo Zúñiga commented, "We are very excited to return to drilling at the Corvina field with the new CX-15 platform. Interest has been high in this project due to the state-of-the-art design and its importance to our Company. Our teams worked extremely hard to achieve this very important milestone which is helping redefine our next phase of growth. Enhancing shareholder value is a priority for our Company, and this new drilling program should help us attain improved production and cash flow, as well as profitability."

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