-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Ot74MfdaJeyohv5rk1MaMyr/c64A5rtvef1yo30Wq0xMB/XoaSfYaYNAEXbGhRMd
 i9M9v2PHiaIBZXwLHMGHEg==

<SEC-DOCUMENT>0001179110-10-017678.txt : 20101216
<SEC-HEADER>0001179110-10-017678.hdr.sgml : 20101216
<ACCEPTANCE-DATETIME>20101216164229
ACCESSION NUMBER:		0001179110-10-017678
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101215
FILED AS OF DATE:		20101216
DATE AS OF CHANGE:		20101216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Spies Richard James
		CENTRAL INDEX KEY:			0001497994

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12697
		FILM NUMBER:		101257268

	MAIL ADDRESS:	
		STREET 1:		580 WESTLAKE PARK BLVD
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77079

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BPZ RESOURCES, INC.
		CENTRAL INDEX KEY:			0001023734
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				330502730
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		580 WESTLAKE PARK BLVD.
		STREET 2:		SUITE 525
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77079
		BUSINESS PHONE:		2815566200

	MAIL ADDRESS:	
		STREET 1:		580 WESTLAKE PARK BLVD.
		STREET 2:		SUITE 525
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77079

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BPZ ENERGY INC
		DATE OF NAME CHANGE:	20050215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NAVIDEC INC
		DATE OF NAME CHANGE:	19961017
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-12-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001023734</issuerCik>
        <issuerName>BPZ RESOURCES, INC.</issuerName>
        <issuerTradingSymbol>BPZ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001497994</rptOwnerCik>
            <rptOwnerName>Spies Richard James</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>580 WESTLAKE PARK BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 525</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77079</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Operating Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-12-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.1199</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>35000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-12-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.0499</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>40000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents 3 independent sales as follows: 2 independent sales for a total of 500 shares at $4.12 and 1 independent sale for a total of 4500 shares at $4.1199.</footnote>
        <footnote id="F2">This price represents the weighted average sales price for multiple transactions reported on this line. The execution price of each trade was between $4.1199 and $4.12.</footnote>
        <footnote id="F3">Represents 2 independent sales as follows: 1 independent sale for a total of 200 shares at $4.05 and 1 independent sale for a total of 4800 shares at $4.0499.</footnote>
        <footnote id="F4">This price represents the weighted average sales price for multiple transactions reported on this line. The execution price of each trade was between $4.0499 and $4.05.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard J. Spies</signatureName>
        <signatureDate>2010-12-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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