BPZ Energy mobilizes drilling rig to Corvina Platform
  by: OilOnline
  Wednesday, July 19, 2006

BPZ Energy, Inc. commenced mobilization of the drilling rig to its Corvina CX-11 platform, located offshore northwest Peru on July 17, 2006.

The drilling rig passed all the acceptance tests performed at the drilling contractor's yard. Final acceptance will be issued once all equipment has been fully rigged up and properly tested on the Corvina platform. Refurbishment of the platform has been completed, and the platform was evaluated as fit for operations by ABSG Consulting, Inc., a leading world wide independent risk management consulting company.

The tender-assist barge BPZ-01 has been inspected by local naval authorities and was granted all required navigation permits. The Company has also secured access to a fully operational dock for loading the drilling rig and related equipment onto the BPZ-01 barge for mobilization to the platform. Once the mobilization is completed, the BPZ-01 barge will be moored alongside the platform to provide assistance during the drilling operations.