Houston, Dec. 2, 2014 (GLOBE NEWSWIRE) -- BPZResources Inc. (the "Company") (NYSE: BPZ) (BVL: BPZ), todayannounced that the Company has engaged Houlihan Lokey Capital Inc.and Stroock & Stroock & Lavan LLP (collectively, the"Advisors") to assist it in analyzing various strategicalternatives and addressing its liquidity and capital structure.The Board of Directors of the Company has also formed a specialcommittee of the Board to work with the Advisors.

"The teams at Houlihan and Stroock have in-depthknowledge of the oil and gas industry and experience guidingcompanies through sophisticated transactions" said James B. Taylor,Chairman of the Board of Directors of the Company.  "Webelieve their expertise will assist the Company in achieving itslong term goals."


BPZ Energy, which trades as BPZ Resources, Inc.under ticker symbol BPZ on the New York Stock Exchange and theBolsa de Valores in Lima, is an independent oil and gas explorationand production company which has license contracts coveringapproximately 1.9 million net acres in offshore and onshorePeru.  The Company holds a 51% working interest in offshoreBlock Z-1, which it is developing in partnership with PacificRubiales Energy Corp.  The Company also holds 100% workinginterests in three onshore blocks.  Please visit www.bpzenergy.com for moreinformation.


Houlihan Lokey is an international investmentbank with expertise in mergers and acquisitions, capital markets,financial restructuring, and valuation. The firm servescorporations, institutions, and governments worldwide with officesin the United States, Europe, and Asia.  Independent adviceand intellectual rigor are hallmarks of the Houlihan Lokey'scommitment 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 restructuringadvisor, and the No. 1 M&A fairness opinion advisor for U.S.transactions over the past 10 years, according to ThomsonReuters.  For more information, please visit Houlihan Lokey'swebsite at www.hl.com


Stroock & Stroock & Lavan LLP is a lawfirm providing transactional and litigation guidance to leadingmultinational corporations, investment banks and private equityfirms in the U.S. and abroad.  Stroock's emphasis on clientservice and innovation has made it one of the nation's leading lawfirms for 138 years.  Stroock's practice areas include capitalmarkets/securities, commercial finance, mergers, acquisitions andjoint ventures, private equity, private funds, commodities andderivatives, employment law and benefits, energy and projectfinance, entertainment, environmental law, financial restructuring,financial services litigation, government relations, insurance,intellectual property, investment management, litigation, nationalsecurity/CFIUS, personal client services, real estate, structuredfinance and tax.  For more information, please visit Stroock'swebsite at www.stroock.com.

CONTACT: A. Pierre Dubois         Director, Investor Relations & Corporate Communications         BPZ Energy         1-281-752-1240         pierre_dubois@bpzenergy.com