IPAA OGIS New York April 7-9, 2014 NYSE & BVL: BPZ www.bpzenergy.com
BPZ Energy Today . . . Four Blocks in Northwest Peru and one in Southwest Ecuador Multiple Plays with Multiple Existing Offshore 3-D Seismic Prospects in Each Play BLOCK XIX Existing Onshore 3-D Seismic BPZ (51%) and Pacific…
. . . Better Positioned to Grow Completed Block Z-1 JV Transaction OIL & GAS ACTIONS Corvina & Albacora Development Completed Block Z-1 Drilling Underway 3D Seismic Survey Complete 3D Seismic Mapping Pursue Z-1 Exploration Strategy…
Block Z-1 Strategy Leverage 1,600 sq.km. 3D survey in efforts to . . . Increase production at Corvina and Albacora Capture Corvina and Albacoras oil and gas upside potential Appraise prior discoveries in Delfin, Piedra Redonda,…
Diving Deeper into Our Strategy 6
Capturing Corvinas Upside Third new CX-15 oil well being sidetracked Five more wells planned in 2014 1,500 acres, with 15 more gross PUDs Four wells have surpassed 1 Mmbo Untested fault block is 500 acres Structure Map at Top of…
Albacora Development A-21D well currently being drilled Two gross PUDs to follow (22D & 20D) A-18D well temporarily shut in due to A-14XD well has exceeded 1 Mmbo gas intrusion Area under development is 400 acres 14XD…
Appraising the Delfin Prospect Drilling permit already in hand Prospective area is 3,000 acres Tennecos 39-X-1 well tested oil Delfin platform to be 4 miles from CX-15 OIL AREA OIL AREA Corvina Untested Fault Block Delfin…
Raya Prospect Revealed by 3D Seismic NW Delfin SE Mal Pelo fm. tumbes fm. Raya prospect is a Corvina look-alike Cardalitos fm. Lower Zorritos fm. Upper Zorritos fm. 3-way dip closure against Zorritos Unconformity Mancora…
Raya, also Targeting Oil from Zorritos Fm. Potential size of 7,500 acres Also in less than 300 ft. of water Drilling permit already in hand 10 miles from Corvina CX-15 platform Structure Map at Top of Zorritos Unconformity…
Piedra Redonda Anchors the Mancora Gas Play Belco discovered dry gas with C-18-X well Piedra Redonda prospect is 11,000 acres Near coastline in 200 ft. of water Drilling permit already in hand PACIFIC OCEAN PC-1X EC-1X P E…
Block XXIII - Cardo 2X Drilling Underway Cardo 2X spud in late Cardo 2X Well March 2014 Second of three-well exploration campaign Estimated total depth is 4,600 feet Caracol 1X testing Two intervals at 1,500 feet in depth…
Another Oil Play in Southern Block XXIII Area In Talara basin next to Carpitas oilfield Shallow depth oil potential Multiple fault blocks mapped Drilling permit in process NW New 2D Seismic Line BPZ10XXIII-16 SE 0.0 0.5 1.0 5,000…
Block XXII: Multiple Plays in 1 Million Acres Pursuing Cretaceous age conventional Muerto Formation is a brittle shale, rich and unconventional plays in total organic content Thick section of Muerto Formation source Adjacent operator…
Revised 2014 Capital & Exploratory Budget Millions Offshore Block Z-1 (51% BPZ) Corvina CX-15 development drilling (6 wells) 40 Albacora drilling (4 wells) 32 Projects & engineering 15 Total BPZ Net Offshore 87 Onshore Blocks…
2014 Focus Continue development drilling at Corvina and Albacora oil fields BLOCK Z-1 TUMBES Continue applying new 3D Zorritos BLOCK XIX seismic data Prepare for Block Z-1 exploration Punta Sal BLOCK campaign, starting with…
Thank You Manolo Ziga President & CEO For additional information: A. Pierre Dubois Investor Relations & Corporate Communications 580 Westlake Park Blvd., Suite 525 Houston, Texas 77079 (281) 556-6200; pierre_duboisbpzenergy.com…
Appendix - Summary Financial & Reserves Data Oil Production (averages) First Quarter 2014 Approximately 2,571 bopd [5,045 bopd gross] Year 2013 1,408 bopd [2,761 bopd gross] Year End 2013 Proved developed producing 3.2 Mmbo Proved…
Appendix GAAP Reconciliation Reconciliation of non-GAAP measure The table below represents a reconciliation of EBITDAX to the Companys net loss, which is the most directly comparable financial measure calculated in accordance with…
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