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Gold/Mining/Energy : BPZ Resources - AMEX:BZP

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To: Dale Baker who wrote (24)	7/9/2008 7:04:09 PM
From: KaiserSosze	of 37

Invertia -- Latest News Wednesday, July 9, 2008, 10:36 pm Source: Andean Draft gas BPZ and Shell signed a definitive agreement next three months exploring for gas in Tumbes Lima .- BPZ Energy and angloholandesa Shell subscribe in the next three months a final agreement of partnership for exploration of gas in three lots located in Tumbes, reported today its chairman, Manuel Zuniga. He pointed out that in this way Shell will be incorporated into licensing contracts that are currently in BPZ lots XXIII, XIX and Z-1 (socket Tumbes). It should be noted that last June 26 and BPZ Shell signed a memorandum of understanding as a first step in establishing a definitive agreement. "Shell is very interested in gas and has shown much enthusiasm in the geological models we have done in the zone and gas potential that exists," he said. He said that in principle the agreement covers only the exploration of gas, but to the extent that Shell will confirm large volumes of gas they want, there is a chance to participate in the proposed thermal power plant of BPZ and also in the exploitation of oil in Piura. BPZ remains the operator of all lots and that Shell is confident the technical ability of the company, told Economic Vision TV Peru

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