BPZ Energy Announces the Addition of Robert L. Sovine to the Board of Directors

Houston, Aug. 26, 2014 (GLOBE NEWSWIRE) -- BPZEnergy (NYSE: BPZ) (BVL: BPZ), an independent oil and gasexploration and production company, announced today that Mr. RobertL. Sovine has agreed to join the Company's Board of Directors,effective August 21, 2014.  Mr. Sovine is taking a new Boardof Directors seat, expanding the total number of Board members tonine.

Mr. Sovine has 34 years of experience in theenergy business as a human resources professional with Marathon OilCorporation (NYSE: MRO), a global, independent energy companyengaged in exploration and production and oil sands mining. His last position before retiring from Marathon Oil in 2014 wasVice President, Human Resources and Administrative Services wherehe was responsible for all human resources activities, includingcompensation and benefit administration.  In this role he alsoserved as a member of the executive team involved in the spin-offof Marathon Oil's downstream business into a new and separatecompany called Marathon Petroleum Corporation in 2011.  Heprovided expert human resources counsel on change managementelements of the spin-off, including facilitating key culturalchange dimensions of the newly formed independent exploration andproduction company.

He began his career with Marathon Oil and itspredecessor companies in 1980 in Findlay, Ohio and subsequentlyheld various positions of increasing responsibility in HumanResources at the company's refineries in Robinson, Illinois; TexasCity, Texas; and Catlettsburg, Kentucky.  He transferred toHouston in 2001 as Manager of Human Resources, Compensation andOrganizational Development, and held that position until beingappointed Manager of Human Resources for Marathon Oil's upstreamorganization in 2003.  In 2010, he was named Vice President,Human Resources and Administrative Services for Marathon OilCorporation.

He is an adjunct professor of Human Resourcesfor the Master of Business Administration program at HoustonBaptist University, a member of the Society of Human ResourcesManagement, a volunteer mediator for the Harris County TexasDispute Resolution Center, and a trustee for the Houston GrandOpera.  He holds a Master of Science in Human Resources andBachelor of Science in Political Science from West VirginiaUniversity.

"We welcome the addition of Bob to our Board ofDirectors," commented Manolo Zúñiga, President and CEO of BPZEnergy. "As our Company continues to grow, his experience in humanresource capital and corporate governance will provide valuableinput to strengthen the leadership culture, attract talent, anddevelop our employees to help achieve our corporate vision."

About BPZ Energy

BPZ Energy is an independent oil and gasexploration and production company with license contracts covering1.9 million net acres in four blocks located in northwestPeru.  Current operations in these blocks range fromearly-stage exploration to production.  The Company holds a51% working interest in offshore Block Z-1, where developmentdrilling is currently underway at the Corvina and Albacorafields.  Onshore the Company holds three 100%-owned blockswith exploration drilling currently underway at Block XXIII. In southwest Ecuador, the Company owns a non-operating net profitsinterest in a producing property.  BPZ Energy trades as BPZResources, Inc. on both the New York Stock Exchange and the Bolsade Valores in Lima under ticker symbol "BPZ".  Please visitwww.bpzenergy.com for moreinformation.

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