Profile :
BPZ Resources, Inc.
580 Westlake Park Boulevard
Suite 525
Houston, TX 77079
United States - Map
Phone: 281-556-6200
Fax: 281-556-6377
Web Site: http://www.bpzenergy.com
DETAILS
Index Membership: N/A
Sector: Basic Materials
Industry: Oil & Gas Drilling & Exploration
Full Time Employees: NaN
BUSINESS SUMMARY
BPZ Resources, Inc., an exploratory stage company, focuses on the exploration and production of oil and natural gas in Peru and Ecuador. It has rights and license agreements for oil and gas exploration and production covering a total of approximately 2.4 million acres in northwest Peru. The company's license contracts cover 100% ownership of both Block Z-1 covering 739,205 acres and Block XIX covering 472,860 acres. It also owns a non-operating working interest in an oil and gas producing property, the Santa Elena property, located in the southwest region of Ecuador. The company was founded in 2001. It was formerly known as BPZ Energy, Inc. and changed its name to BPZ Resources, Inc. in October 2007. BPZ Resources is headquartered in Houston, Texas with additional offices in Lima, Peru and Quito, Ecuador.
Nice chart, low float, retrace at some point.......
Buy the dip.
Shares Outstanding5: 74.26M
Float: 50.67M
% Held by Insiders1: 30.91%
% Held by Institutions1: 27.10%
Shares Short (as of 26-Feb-08): 4.94M
52wk Range: 3.50 - 12.10
Volume: 1,173,823
Avg Vol (3m): 497,732
Market Cap: 1.61B
Technicals
Record Price High
Percentage Gainer
Last Price Quote is:
9.07%above 13-day MA
28.72%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 05/09/2008
Last Analyst Rating: Hold
Below are the 6 month, 1 year, 2 year, 3 year.......
BPZ Energy (AMEX: BZP)
The oil and gas exploration company with interests in Latin America is riding high, thanks both to a pop in energy prices and timely discoveries in Peru.
The market is catching on. Over the past three months, Wall Street's profit targets for 2008 have gone from $0.43 a share to $0.74 a share. Come 2009, the market expects earnings to more than double from that figure, to $1.61 a share. A lot can happen between now and then, but this is a standout among the standouts, with shares more than tripling over the past 12 months.
52wk Range: 3.50 - 12.10
Volume: 1,233,726
Avg Vol (3m): 497,732
Market Cap: 1.52B
Technicals
Percentage Gainer
Last Price Quote is:
1.74%above 13-day MA
17.85%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 06/13/2008
Last Analyst Rating: Hold
Taking a bounce off the 38.2 Fib retrace
52wk Range: 3.50 - 12.10
Volume: 1,735,691
Avg Vol (3m): 497,732
Technicals
Percentage Gainer
Last Price Quote is:
5.83%above 13-day MA
12.61%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 06/13/2008
Last Analyst Rating: Hold
WOW... ;D
might be best chart out there.
52wk Range: 3.50 - 12.10
Volume: 1,075,137
Avg Vol (3m): 497,732
Technicals
Record Price High
Last Price Quote is:
13.07%above 13-day MA
24.92%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 08/07/2008
Last Analyst Rating: Hold
Press Release Source: BPZ Resources, Inc.
BPZ to Present at Tristone Investor Conference in Paris
Tuesday May 13, 8:04 am ET
HOUSTON--(BUSINESS WIRE)--BPZ Resources, Inc. (AMEX:BZP - News) announced today that the Company will be attending and presenting at the inaugural Tristone Capital Energie '08 conference in Paris on May 14, 2008. The Company's presentation will take place at 11:55 a.m. local time in Paris, 5:55 a.m. Eastern Time. Manolo Zúñiga, President and Chief Executive Officer will present on behalf of the Company.
The presentation can be viewed live on the Internet from the following link:
https://tristonecapital-ls.webex.com/tristonecapital-ls/onstage/g. php?p=2&t=m (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About BPZ Energy
Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.4 million acres in four properties in northwest Peru. It also owns a minority working interest in a producing property in southwest Ecuador. The Company is currently executing the development of the Corvina oil discovery, the redevelopment of the Albacora oil field, and the exploration of Block XIX, in parallel with, the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. The Company's website at www.bpzenergy.com provides additional information about the Company's plans, including photographs and other information with respect to its operations.
Contact:
BPZ Resources, Inc.
Director of Investor Relations and
Corporate Communications
Greg Smith, 281-556-6200
--------------------------------------------------------------------------------
Source: BPZ Resources, Inc.
Quote from: setravis on May 13, 2008, 06:03:59 PM
WOW... ;D
might be best chart out there.
Very impressive chart. I see BZP going much higher.
Looking at the charts...
Looking back on a 5 year chart, the price was $378 in 2000.
In 2002 after an orderly fall to $5, the price started basing.
In 2006, the volume increased considerably which was a first clue that this might be making a come back.
In 2007 a breakout occurred which started a stage 2 uptrend for BZP.Volume also increased during this time, a positive sign.
The plan is to hold this one for a long term using the 200 MA as a stop.
52wk Range: 3.50 - 12.10
Volume: 1,220,406
Avg Vol (3m): 497,732
Technicals
Last Price Quote is:
-1.29%below 13-day MA
7.43%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 08/07/2008
Last Analyst Rating: Hold
Press Release Source: BPZ Resources, Inc.
BPZ to Present at IPAA Investor Conference in London
Monday June 2, 7:00 am ET
HOUSTON--(BUSINESS WIRE)--BPZ Resources, Inc. (AMEX:BZP - News) announced today that the Company will be attending and presenting at the Independent Petroleum Association of America's (IPAA) Oil and Gas Investment Symposium conference in London on June 3, 2008. The Company's presentation will take place at 9:45 am local time in London, 4:45 am Eastern Time. Manolo Zúñiga, President and Chief Executive Officer will present on behalf of the Company.
The presentation can be viewed live on the Internet from the following link:
http://www.investorcalendar.com/CEPage.asp?ID=129847
Or at the IPAA website www.ipaa.org
About BPZ Energy
Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.4 million acres in four properties in northwest Peru. It also owns a minority working interest in a producing property in southwest Ecuador. The Company is currently executing the development of the Corvina oil discovery, the redevelopment of the Albacora oil field, and the exploration of Block XIX, in parallel with, the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. The Company's website at www.bpzenergy.com provides additional information about the Company's plans, including photographs and other information with respect to its operations.
Contact:
BPZ Resources, Inc.
Greg Smith, 281-556-6200
Director of Investor Relations and
Corporate Communications
--------------------------------------------------------------------------------
Source: BPZ Resources, Inc.
Be patient, do the homework, wait for a pullback, and then pull the trigger. :D ;D ;)
Take advantage of the lower prices and buy? This is exactly what you should do if you want to invest in a stock.
Technicals
Percentage Gainer
Last Price Quote is:
3.47%above 13-day MA
14.69%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 08/07/2008
Last Analyst Rating: Hold
Be patient, do the homework, wait for a pullback, and then pull the trigger.
Take advantage of the lower prices and buy? This is exactly what you should do if you want to invest in a stock.
BPZ Resources rallies on Shell pact in Peru.......
Good news has moved this stock up on a very bad day for the market. That a good sign this stock is heading further upward. Riding the wave!
52wk Range: 3.50 - 12.10
Volume: 2,580,366
Avg Vol (3m): 497,732
Technicals
Record Volume
Record Price High
Gap Up
Percentage Gainer
Price Gainer
Last Price Quote is:
8.97%above 13-day MA
19.69%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 08/07/2008
Last Analyst Rating: Hold
HOUSTON, Jun 26, 2008 (BUSINESS WIRE) -- BPZ Resources, Inc. (BZP, Trade) announced today that the Company has signed a Memorandum of Understanding (MOU) with Shell Exploration Company (West) B.V. (Shell). This non-binding MOU allows both parties to move forward with their negotiations on a possible Farm-out Agreement (Agreement) with the ultimate goal of jointly developing Blocks Z-1, XIX and XXIII in Northwest Peru into large-scale oil and gas ventures, including regional power generation, gas supply for local and regional industry, and LNG. The intent of forming a joint venture is to complement BPZ Energy's assets, local knowledge and experience, stakeholder relationships, and vision with Shell's technology, equipment, manpower and leadership, especially in gas marketing.
Both BPZ Energy and Shell recognize the need to accelerate the exploration of these three blocks and will work toward an Agreement that includes, but is not limited to, the following fundamental points:
-- 50%/50% unincorporated joint venture in Blocks Z-1, XIX and XXIII.
-- BPZ Energy will be the operator of record in the three blocks.
-- BPZ Energy will initially retain 100% of the oil and gas assets in Corvina, Delfin and Mero as well as 100% of the oil assets in Albacora, (the "Carved-out areas") so as to enable BPZ Energy to appraise the Carved-out areas. Shell will have the option, in order to fully align the desired joint venture, to buy a 50% stake in any one of these four Carved-out areas, beginning in July 2012 and ending in January 2015, at prevailing market prices. Additionally, Shell will join with BPZ Energy to refurbish the platform and drill the first well in Albacora, where BPZ Energy would retain 100% of oil assets and 50% of gas assets discovered until such time Shell elects to exercise the option to buy 50% of Albacora's oil assets.
-- BPZ Energy will retain 100% ownership of its planned gas-to-power project, subject to an option retained by Shell to purchase a 50% interest in the project at a later date.
-- Shell will commit to an exploration and appraisal program with three phases which could amount to approximately $300 million. Shell has the option to exit at the end of each phase. If Shell so exits, the respective participation would revert back to BPZ Energy at no cost. The work program is geared towards appraising the Mancora gas play and the deepwater leads in Block Z-1, as well as other leads and prospects, while also meeting the commitments mandated by the respective three license contracts. This program would primarily consist of 2D and 3D seismic surveys in Blocks XXIII and Z-1, respectively, and the drilling of approximately 12 new wells. The parties will share costs equally thereafter.
-- Any future oil and/or gas production, excluding that acquired from the Carved-out areas, will be shared 51.75% by BPZ Energy and 48.25% by Shell.
-- In case sufficient gas, estimated to be in the order of 4 Tcf of gas reserves, is proved up to warrant a LNG project, BPZ Energy and Shell will set up a 50%/50% joint venture to develop such project. Shell would operate such project.
Furthermore, the Parties confirm that they have agreed that under no circumstance will an Agreement be finalized for the acquisition of BPZ Energy's rights in the three blocks until all necessary management and government approvals have been obtained and fully termed agreements have been executed by both parties, or their respective affiliated companies, as the case may be. Negotiations on the Agreement will begin immediately and are expected to conclude towards the end of the year.
Manolo Zuniga, BPZ Energy's President and Chief Executive Officer commented, "This MOU to negotiate the final Farm-out Agreement is an important step for both BPZ and Shell. With Shell as partner, we would have a company with the key elements needed to fully develop our assets: deep water expertise to develop the prospects in Block Z-1 that are in water depths from 500 to 1,000 feet; the ability to market and monetize the gas potential in our Blocks through large-scale projects such as LNG; and the access to people and equipment that will help us appraise the gas and oil potential more quickly. Shell also maintains the highest Quality, Health, Safety, and Environment standards and understands the need to continue the development of gas and power for local consumption, as well as advancing the social programs in the region which we have initiated. As such, I believe that we have found the right potential partner for BPZ. Accelerating the exploration and development of the assets we have in the three blocks under consideration will be beneficial to both companies, to BPZ's shareholders, and to Peru."
About BPZ Energy
Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.4 million acres in four properties in northwest Peru. It also owns a minority working interest in a producing property in southwest Ecuador. The Company is currently executing the development of the Corvina oil discovery, the redevelopment of the Albacora oil field, and the exploration of Block XIX, in parallel with the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. The Company's website at www.bpzenergy.com provides additional information about the Company's plans, including photographs and other information with respect to its operations.
About Shell Exploration Company
Shell Exploration Company (West) B.V. (Shell) is a wholly owned indirect affiliate of Royal Dutch Shell plc. Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam and New York stock exchanges. Shell companies have operations in more than 110 countries, with businesses including: oil and gas exploration; production and marketing of liquefied natural gas and gas to liquids; marketing and shipping of oil products and chemicals; and renewable energy projects including wind, solar and biofuels. www.shell.com/aboutshell
Forward Looking Statements
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements are based on our current expectations about our company, our properties, our estimates of required capital expenditures and our industry. You can identify these forward-looking statements when you see us using words such as "expect," "will", "anticipate," "indicate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward looking statements. Such uncertainties include the success of our project financing efforts, including final documentation and execution of debt financing documents with IFC, accuracy of well test results, and reserves reports, well refurbishment efforts, successful production of indicated reserves, and the successful management of our capital development project, and other normal business risks. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.
SOURCE: BPZ Resources, Inc.
BPZ Resources, Inc.
Greg Smith, 281-556-6200
Director of Investor Relations and
Corporate Communications
Copyright Business Wire 2008
Pulled back into buy range...
catching a bounce off the 200-day MA.......
52wk Range: 3.50 - 12.10
Volume: 1,556,221
Avg Vol (3m): 497,732
Technicals
Percentage Gainer
Last Price Quote is:
-5.76%below 13-day MA
-12.99%below 50-day MA
RS Rating: N/A
Fundamentals
Earnings Expected on Aug 7
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 08/07/2008
Last Analyst Rating: Hold
Changed Ticker Symbol
'BZP' is no longer valid. It has changed to BPZ
Now listed on the NYSE
52wk Range: 3.95 - 29.88
Volume: 526,848
Avg Vol (3m): 794,019
Technicals
Last Price Quote is:
-1.00%below 13-day MA
-11.26%below 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 03/06/2009
Last Analyst Rating: Buy
BPZ BPZ Energy Brings Corvina Oil Field Into Commercial...
HOUSTON, Dec 1, 2010 (GlobeNewswire via COMTEX) -- BPZ Resources, Inc. (BPZ) announces the Company has placed the Corvina oil field, located in offshore Block Z-1 in northwest Peru, into commercial production. The Company has started operating the gas compressor at the CX-11 Corvina platform to re-inject the associated gas and thus avoid gas flaring. The Company is now in the process of reopening the Corvina oil wells that were shut-in due to gas flaring restrictions.
Richard Spies, Chief Operating Officer commented, "This is a great achievement for our operations team and the Company in general, as it proves that with proper planning and execution our team can meet key milestones." Manolo Zuniga, President and Chief Executive Officer added, "The Corvina oil field is our first field on commercial production. Our investors have been watching for us to execute on this milestone, and I am pleased at our team's commitment to meeting the announced schedule. We are currently working on the future development of Corvina, and committed to installing the required gas re-injection equipment at Albacora so we may bring our second oil field into commercial production by year end 2011."
About BPZ Energy
Houston based BPZ Energy is an oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.2 million acres in four properties in northwest Peru. It also owns a minority working interest in a producing property in southwest Ecuador. The Company is currently executing the development in Block Z-1 of the Corvina oil discovery, as well as the redevelopment of the Albacora oil field, and the exploration of Blocks XIX, XXII and XXIII, in parallel with the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. The Company's website at www.bpzenergy.com provides additional information about the Company's plans, including photographs and other information with respect to its operations.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: BPZ Resources, Inc.
CONTACT: BPZ Energy
Greg Smith, Director of Investor Relations
and Corporate Communications
281-752-1240
They have great possibilities in Peru and Ecuador for gas and oil.
The potential is real and upside great.
Strong finish on good volume day.
Technicals
Percentage Gainer
Last Price Quote is:
9.13%above 13-day EMA
24.92%above 50-day EMA
RS Rating: 95
The Golden Cross...
BPZ BPZ Energy Provides Oil and Gas Resources Estimates... by GlobeNewswire Jun 16 2011 5:58PM
HOUSTON, Jun 16, 2011 (GlobeNewswire via COMTEX) -- BPZ Energy (BPZ), an independent oil and gas exploration production company with 100% working interests in four blocks in Peru, today announced the start of the process to identify and select a potential partner for its offshore Block Z-1. The Company also provided Block Z-1 oil and gas resources as estimated by the Company's independent reserve auditor, Netherland, Sewell & Associates, Inc. (NSAI).
According to the NSAI report, Block Z-1 has a best estimate of 981 million barrels of unrisked prospective oil (MMBO) resources as of March 31, 2011. The report provides low and high estimates of unrisked prospective oil resources of 269 MMBO and 2,750 MMBO, respectively. The report also provides estimates for unrisked prospective gas resources with a best estimate of 8.1 trillion cubic feet (TCF), and low and high estimates of 4.1 TCF and 12.7 TCF, respectively. The prospective resources are based on the evaluation of 12 structures in the Z-1 Block.
The NSAI report also provides low (1C) and high (3C) estimates of unrisked contingent oil resources ranging from of 1.7 MMBO to 10.8 MMBO, and low and high estimates of unrisked prospective gas resources ranging from 0.4 TCF to 0.9 TCF, respectively. The contingent resources are based on the hydrocarbons encountered in three fields (Delfin, East Corvina and Piedra Redonda in Block Z-1) that were drilled by previous operators.
The NSAI report does not take into account volumes of proved, probable and possible oil and gas found in the Corvina and Albacora fields previously disclosed by the Company.
Manolo Zúñiga, President and CEO of BPZ Energy, commented, "We are pleased with the results of the NSAI resource report which now completes the Block Z-1 data room. The partnering initiative is an important element of our overall strategy to accelerate the exploration and continued development of the oil and gas potential of this offshore block. This latest NSAI report confirms our view of the oil potential in Block Z-1, as reflected by our initial success in the Corvina and Albacora oil fields, and provides a framework for the Company to continue delivering value to our stakeholders."
About BPZ Energy
Houston-based BPZ Energy, which trades as BPZ Resources, Inc. on the NYSE, is an independent oil and gas exploration and production company which has exclusive license contracts for oil and gas exploration and production covering approximately 2.2 million acres in four properties in northwest Peru. The Company is currently executing the development in Block Z-1 of the Corvina oil discovery, as well as the redevelopment of the Albacora oil field, and the exploration of Blocks XIX, XXII and XXIII, in parallel with the execution of an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and the development of a regional gas marketing strategy. The Company also owns a minority working interest in a producing property in southwest Ecuador. Please visit the Company's website at www.bpzenergy.com for more information.
Notes:
The definitions of Contingent and Prospective Resources have been excerpted from the Petroleum Resources Management System approved by the Society of Petroleum Engineers (SPE) Board of Directors, March 2007. Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be sub-classified based on project maturity.
Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality. Contingent Resources are further categorized in accordance with the level of certainty associated with the estimates and may be subclassified based on project maturity and/or characterized by their economic status. The volume and parameters associated with low, best and high estimates scenarios of contingent resources are referred to as 1C, 2C and 3C, respectively.
Forward Looking Statements
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements are based on our current expectations about our company, our properties, our estimates of required capital expenditures and our industry. You can identify these forward-looking statements when you see us using words such as "estimate," "deliver", "prospective," "indicate," and other similar expressions. These forward-looking statements involve risks and uncertainties.
Our actual results could differ materially from those anticipated in these forward looking statements. Such uncertainties include the success of our project financing efforts, accuracy of well test results, results of seismic testing, well refurbishment efforts, successful production of indicated reserves, satisfaction of well test period requirements, successful installation of required permanent processing facilities, receipt of all required permits, and the successful management of our capital expenditures, and other normal business risks. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.
The U.S. Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only "reserves" that a company anticipates to be economically producible by application of development projects to known accumulations, and there exists or is a reasonable expectation there will exist, the legal right to produce, or a revenue interest in the production, installed means of delivering oil and gas or related substances to market, and all permits and financing required to implement the project. We are prohibited from disclosing estimates of oil and gas resources that do not constitute "reserves" in our SEC filings, including the estimates of contingent and prospective resources included in this press release. With respect to "probable" and "possible" reserves, we are required to disclose the relative uncertainty of such classifications of reserves when they are included in our SEC filings. Further, the reserves estimates contained in this press release are not designed to be, nor are they intended to represent, an estimate of the fair market value of the reserves. U.S. investors are urged to consider closely the disclosure in our SEC filings, available from us at 580 Westlake Park Blvd., Suite 525, Houston, Texas 77079; Telephone: (281) 556-6200. These filings can also be obtained from the SEC via the internet at www.sec.gov .
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: BPZ Resources, Inc.
CONTACT: A. Pierre Dubois
Investor Relations and Corporate Communications
BPZ Energy
(281) 752-1240
[email protected]
BPZ Resources Shares Popped: What You Need to Know
June 17, 2011
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oil explorer BPZ Resources (NYSE: BPZ) didn't just pop; they exploded as much as 29% higher in intraday trading on heavy volume today.
So what: The company announced estimates for Block Z-1 in Peru and its intent to identify a partner for the area. A report from the company's independent reserve auditor -- Netherland, Sewell and Associates -- estimates there's 981 million barrels (MMBO) of unrisked prospective oil in Block Z-1, with low and high estimates of 269 MMBO and 2,750 MMBO, respectively.
Now what: A short squeeze is adding fuel to the move today because 17% of the float was short as of the end of May. Today's move is a welcome sight for investors who had recently seen shares hit a new 52-week low and get pounded by short-sellers. I think this move has more legs in the short term considering the short-sellers who have to start getting out now.
BPZ Resources Inc. soared the most since March 2009, to $3.53. The oil and gas company with operations in Peru said its offshore Block Z-1 exploration has best estimates of 981 million barrels of prospective oil resources and 8.1 trillion cubic feet of gas resources.
Day's Range: 3.08 - 3.90
52wk Range: 2.91 - 6.83
Volume: 13,591,140
Avg Vol (3m): 1,813,590
Market Cap: 409.55M
P/E (ttm): N/A
EPS (ttm): -0.57
Div & Yield: N/A (N/A)
Technicals
Percentage Gainer
Last Price Quote is:
7.34%above 13-day EMA
-10.20%below 50-day EMA
RS Rating: 8