DALLAS, June 20, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring oil & gas company BPZ Resources Inc. (NYSE:BPZ). The report includes the company's most recent developments and trading activity, as well as financial, industry and comparative information to get you in-the-know.
The stock recently hit its 52-week low; find out what caused shares to bounce last week by reading the full report at:
BPZ Resources Inc. (BPZ) is an independent oil and gas exploration and production company that has exclusive license contracts for oil and gas exploration and production covering approximately 2.2 million acres in four properties in northwest Peru. The Company also owns a minority working interest in a producing property in southwest Ecuador.
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In the report, the analyst notes:
"Shares of BPZ rose $0.51, or 16.89%, to close Friday at $3.53, regaining ground after it hit a 52-week low of $2.91 in the previous session. The stock has so far reached a 52-week high of $6.3. Over 13 million shares have traded hands during the session, versus the 10-day average volume of 2.76 million."
"The Company last week announced the start of the process to identify and select a potential partner for its offshore Block Z-1 in Peru. A report from the Company's independent reserve auditor, Netherland, Sewell and Associates, estimates that there are 981 million barrels (MMBO) of unrisked prospective oil in Block Z-1 as of the end of this year's first quarter, with low and high estimates of 269 MMBO and 2,750 MMBO, respectively."
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