BPZ Energy, Inc. (AMEX:BZP) today announced it has been selected to be included in the broad-market Russell 3000® Index. This inclusion was effective immediately prior to the close of trading on Friday, June 22, 2007, when the Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes. Over 1.9 million shares of BPZ Energy common stock traded on Friday and the high volume was attributed to the rebalancing of the Russell 3000.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Manolo Zúñiga, President and CEO of BPZ Energy, said; "We are very pleased to have earned a place on this prestigious index and it is another milestone in our growth as a public company.” Mr. Zúñiga went on to say; "Russell's unbiased, market-driven analyses for determining eligible stocks for these well-known indexes will give BPZ Energy wider exposure to the investment community, allowing us to reach out to constituencies who are not yet familiar with our story, and thus broaden our shareholder base."
The Russell 3000 serves as the U.S. component to the Russell Global Index, which was launched earlier this year.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them.
Annual reconstitution of Russell’s U.S. indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
About Russell
Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world’s best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto. Russell’s indexes are unmanaged and cannot be investing in directly. For more information on Russell indexes, go to www.russell.com.
About BPZ Energy
Houston based BPZ Energy, Inc. is an oil and gas exploration and production company which has exclusive rights and license agreements for oil and gas exploration and production covering approximately 2.4 million acres in four properties in northwest Peru. It also owns a minority working interest in a producing property in southwest Ecuador. The Company is currently executing an integrated gas-to-power strategy, which includes generation and sale of electric power in Peru and sales of gas into Ecuador for third-party power generation, in parallel with the development of the Corvina oil discovery and the redevelopment of the Albacora oil field. The Company’s website at www.bpzenergy.com provides additional information about the Company’s plans, including photographs and other information with respect to its operations.
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