X0306 4 2012-10-12 0001023734 BPZ RESOURCES, INC. BPZ 0001513289 Ledgard Joseph Durkin 580 WESTLAKE PARK BLVD SUITE 525 HOUSTON TX 77079 1 Chief Legal Officer Common Stock 2012-10-12 4 A 0 100000 0 A 273307 D The Company granted retention awards to senior executives. Mr. Ledgard was granted 100,000 shares of restricted stock under the Company's 2007 Long-Term Incentive Compensation Plan. The grant cliff vests on October 12, 2015. /s/ Durkin Ledgard 2012-10-16