General

BPZ Energy, Inc., a Colorado corporation, formerly named Navidec, Inc., was incorporated in 1993 and is based in Houston, Texas. We are an exploratory stage company focused on the exploration and production of oil and natural gas and we intend to utilize part of our future natural gas production for the complementary development of gas-fired power generation.

On September 10, 2004, BPZ-Texas consummated a reverse merger with Navidec whereby BPZ-Texas became a wholly owned subsidiary of Navidec. However, in the Merger, the stockholder group of BPZ-Texas obtained majority ownership and management control of the combined company. On February 4, 2005, the...