BPZ Resources (BPZ +4.7%) says it closed its contractual arrangements for the sale of a 49%...

|About: BPZ Resources, Inc. (BPZ)|By:, SA News Editor

BPZ Resources (BPZ +4.7%) says it closed its contractual arrangements for the sale of a 49% participating interest in Block Z-1 offshore Peru to Pacific Rubiales Energy (PEGFF.PK). The two companies waived and modified certain contract conditions in order to effect an accelerated closing of the transaction.