BPZ Resources Inc., Houston, (Amex: BZP) has entered a $200 million mandate letter and facility term sheet with a large international bank to fund its Peruvian operations.

BPZ president and chief executive Manolo Zuñiga says, “Step by step we are moving toward getting the full $215 million of senior debt in place to give the company additional flexibility to pursue the various projects in our acreage in northwest Peru. This senior debt package gives a positive indication of the strength of our assets.” SJP