BPZ Resources has completed the well CX11-23D in Corvina with a sustained initial production rate (IPR) of approximately 1,500 barrels of oil per day (bopd).

The CX11-23D well, which is the final well to be drilled from the existing CX-11 platform, had begun the testing phase in mid-September with a sustained IPR of approximately 1,500bopd.

The rig has been removed from the platform in order to complete the installation of facilities for production, as well as gas and water re-injection.

This equipment will be necessary to transition the field from exploration to commercial production, currently slated for 30 November 2010.

The CX11-19D well, which has been shut in since mid-June, the end of its initial six month testing period, has again been denied the needed extended well testing permit to continue testing until 30 November 2010 in Corvina.

This well will remain closed until the gas and water re-injection facilities are installed and commissioned at the CX-11 platform.

In Albacora, the company is continuing the testing of the A-17D well.