updated 5/5/2011 4:47:15 PM ET 2011-05-05T20:47:15

HOUSTON, May 5, 2011 (GLOBE NEWSWIRE) -- BPZ Resources, Inc., d/b/a BPZ Energy (NYSE:BPZ), an independent exploration and production company, today announced it has scheduled a conference call and webcast to discuss first quarter 2011 results on Tuesday, May 17, 2011, at 10:00 a.m. CDT (11:00 a.m. EDT).

The live conference call may be accessed via the Investor Relations section of the Company's website at www.bpzenergy.com or by accessing the following dial-in numbers:

US and Canada Dial-In: (877) 293-5457
International Dial-In: (707) 287-9344
Conference Code: 65709783

A replay of the conference call will be available at the Investor Relations section of the Company's website. In addition, from Tuesday, May 17, 2011 beginning at 2:00 p.m. CDT, through Tuesday, May 24, 2011, a replay will be available by accessing the following dial-in numbers:

US and Canada Dial-In: (800) 642-1687
International Dial-In: (706) 645-9291

The Company anticipates filing with the SEC an extension to file its Form 10-Q for the quarter ended March 31, 2011, which will allow the Company to file on or before May 16, 2011. The expected delay in filing is due to unanticipated delays associated with implementation of a new financial accounting system. 

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 2.2 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 in Block Z-1 of the Corvina oil discovery, as well as the redevelopment of the Albacora oil field, and the exploration of Blocks XIX, XXII and XXIII, 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. For more information, please visit the BPZ Energy web site at www.bpzenergy.com .

CONTACT: Investor and Media Contact:
         A. Pierre Dubois
         BPZ Energy
         (281) 752-1240

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