Houston, Aug. 26, 2014 (GLOBE NEWSWIRE) -- BPZ
Energy (NYSE: BPZ) (BVL: BPZ), an independent oil and gas
exploration and production company, announced today that Mr. Robert
L. Sovine has agreed to join the Company's Board of Directors,
effective August 21, 2014. Mr. Sovine is taking a new Board
of Directors seat, expanding the total number of Board members to
nine.
Mr. Sovine has 34 years of experience in the
energy business as a human resources professional with Marathon Oil
Corporation (NYSE: MRO), a global, independent energy company
engaged in exploration and production and oil sands mining.
His last position before retiring from Marathon Oil in 2014 was
Vice President, Human Resources and Administrative Services where
he was responsible for all human resources activities, including
compensation and benefit administration. In this role he also
served as a member of the executive team involved in the spin-off
of Marathon Oil's downstream business into a new and separate
company called Marathon Petroleum Corporation in 2011. He
provided expert human resources counsel on change management
elements of the spin-off, including facilitating key cultural
change dimensions of the newly formed independent exploration and
production company.
He began his career with Marathon Oil and its
predecessor companies in 1980 in Findlay, Ohio and subsequently
held various positions of increasing responsibility in Human
Resources at the company's refineries in Robinson, Illinois; Texas
City, Texas; and Catlettsburg, Kentucky. He transferred to
Houston in 2001 as Manager of Human Resources, Compensation and
Organizational Development, and held that position until being
appointed Manager of Human Resources for Marathon Oil's upstream
organization in 2003. In 2010, he was named Vice President,
Human Resources and Administrative Services for Marathon Oil
Corporation.
He is an adjunct professor of Human Resources
for the Master of Business Administration program at Houston
Baptist University, a member of the Society of Human Resources
Management, a volunteer mediator for the Harris County Texas
Dispute Resolution Center, and a trustee for the Houston Grand
Opera. He holds a Master of Science in Human Resources and
Bachelor of Science in Political Science from West Virginia
University.
"We welcome the addition of Bob to our Board of
Directors," commented Manolo Zúñiga, President and CEO of BPZ
Energy. "As our Company continues to grow, his experience in human
resource capital and corporate governance will provide valuable
input to strengthen the leadership culture, attract talent, and
develop our employees to help achieve our corporate vision."
About BPZ Energy
BPZ Energy is an independent oil and gas
exploration and production company with license contracts covering
1.9 million net acres in four blocks located in northwest
Peru. Current operations in these blocks range from
early-stage exploration to production. The Company holds a
51% working interest in offshore Block Z-1, where development
drilling is currently underway at the Corvina and Albacora
fields. Onshore the Company holds three 100%-owned blocks
with exploration drilling currently underway at Block XXIII.
In southwest Ecuador, the Company owns a non-operating net profits
interest in a producing property. BPZ Energy trades as BPZ
Resources, Inc. on both the New York Stock Exchange and the Bolsa
de Valores in Lima under ticker symbol "BPZ". Please visit
www.bpzenergy.com for more
information.
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CONTACT: A. Pierre Dubois
Director, Investor Relations and Corporate Communications
BPZ Energy
1-281-752-1240
pierre_dubois@bpzenergy.com