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BPZ pushes back block XIX drilling to 2010

Bnamericas Published: Wednesday, February 18, 2009
Houston-based BPZ Resources (NYSE: BPZ) aims to spud a well on onshore block XIX in Peru in 2010, according to a presentation by company president and CEO Manolo Zúñiga. In September, BPZ announced plans to begin drilling on the block this year to assess gas and oil potential. Drilling will take place in the Pampa La Gallina prospect which covers 3,500 acres (1,416ha). Internal estimates place the block's reserves potential at 170Mb of oil and 1.7Tf3 (28.3Bm3) of gas. The block covers roughly 473,000 acres and is next to block Z-1 in northwest Peru.

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