EXHIBIT 21.1

BPZ Resources, Inc. (1)

(Texas)

List of Subsidiaries and Branches (2)

As of December 31, 2012

Name	Jurisdiction
BPZ Resources, Inc. (2)	Texas
BPZ Marine, Inc.	Texas
BPZ U.S. Holdings, LLC	Texas
SMC Ecuador, Inc.	Delaware
BPZ Energy, LLC (3)	Texas
BPZ Energy International Holdings, LP	British Virgin Islands
International Support, LP	British Virgin Islands
BPZ Exploración & Producción, S.R.L. (4)	Perú
Empresa Electrica Nueva Esperanza, S.R.L.	Perú
Soluciones Energeticas, S.R.L.	Perú
BPZ Marine Peru, S.R.L.	Perú
BPZ Z-1 Oil S.R.L.	Perú
BPZ Lote Z-1 S.R.L.	Perú
BPZ Lote XIX S.R.L.	Perú
BPZ Lote XXII S.R.L.	Perú
BPZ Lote XXIII S.R.L.	Perú
BPZ Energy Ecuador, CIA. LTDA.	Ecuador
SMC Ecuador, Inc., Sucursal Ecuador (5)	Ecuador

Notes:

1) The Company name was changed to BPZ Resources, Inc. from BPZ Energy, Inc. on October 11, 2007.

2) All subsidiaries are 100% owned, directly or indirectly.

3) Formerly named BPZ Energy, Inc.

4) Formerly known as BPZ Energy, Inc. Sucursal Peru, a registered Peruvian branch office of BPZ Energy, Inc. (Texas); was converted into a limited liability business corporation  registered in Peru as BPZ Exploración & Producción, S.R.L. in May 2007.

5) SMC Ecuador, Inc., Sucursal Ecuador is a registered Ecuadorian branch office.