BPZ Resources Inc. - 2011-01-28

Closed a secured debt financing with Credit Suisse AG. The debt will be secured by the three LM6000 gas-fired turbines recently purchased by Empresa Electrica Nueva Esperanza SRL, a subsidiary of BPZ Resources.

Proceeds from the financing will be utilized to meet the 2011 capital expenditure budget, exploration and development work programs, and debt reduction.