Houston, Dec. 2, 2014 (GLOBE NEWSWIRE) -- BPZ
Resources Inc. (the "Company") (NYSE: BPZ) (BVL: BPZ), today
announced that the Company has engaged Houlihan Lokey Capital Inc.
and Stroock & Stroock & Lavan LLP (collectively, the
"Advisors") to assist it in analyzing various strategic
alternatives and addressing its liquidity and capital structure.
The Board of Directors of the Company has also formed a special
committee of the Board to work with the Advisors.
"The teams at Houlihan and Stroock have in-depth
knowledge of the oil and gas industry and experience guiding
companies through sophisticated transactions" said James B. Taylor,
Chairman of the Board of Directors of the Company. "We
believe their expertise will assist the Company in achieving its
long term goals."
ABOUT BPZ ENERGY
BPZ Energy, which trades as BPZ Resources, Inc.
under ticker symbol BPZ on the New York Stock Exchange and the
Bolsa de Valores in Lima, is an independent oil and gas exploration
and production company which has license contracts covering
approximately 1.9 million net acres in offshore and onshore
Peru. The Company holds a 51% working interest in offshore
Block Z-1, which it is developing in partnership with Pacific
Rubiales Energy Corp. The Company also holds 100% working
interests in three onshore blocks. Please visit www.bpzenergy.com for more
information.
ABOUT HOULIHAN LOKEY CAPITAL
INC.
Houlihan Lokey is an international investment
bank with expertise in mergers and acquisitions, capital markets,
financial restructuring, and valuation. The firm serves
corporations, institutions, and governments worldwide with offices
in the United States, Europe, and Asia. Independent advice
and intellectual rigor are hallmarks of the Houlihan Lokey's
commitment to client success across its advisory services.
Houlihan Lokey is ranked as the No. 1 M&A advisor for U.S.
transactions under $3 billion, the No. 1 global restructuring
advisor, and the No. 1 M&A fairness opinion advisor for U.S.
transactions over the past 10 years, according to Thomson
Reuters. For more information, please visit Houlihan Lokey's
website at www.hl.com.
ABOUT STROOCK & STROOCK & LAVAN
LLP
Stroock & Stroock & Lavan LLP is a law
firm providing transactional and litigation guidance to leading
multinational corporations, investment banks and private equity
firms in the U.S. and abroad. Stroock's emphasis on client
service and innovation has made it one of the nation's leading law
firms for 138 years. Stroock's practice areas include capital
markets/securities, commercial finance, mergers, acquisitions and
joint ventures, private equity, private funds, commodities and
derivatives, employment law and benefits, energy and project
finance, entertainment, environmental law, financial restructuring,
financial services litigation, government relations, insurance,
intellectual property, investment management, litigation, national
security/CFIUS, personal client services, real estate, structured
finance and tax. For more information, please visit Stroock's
website at www.stroock.com.
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CONTACT: A. Pierre Dubois
Director, Investor Relations & Corporate Communications
BPZ Energy
1-281-752-1240
pierre_dubois@bpzenergy.com
