-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Pqkoyy+EVUGpJGCfHgxbtLv/KJjIba5E08XBqnWMbdkbyhBhdBRY2gdFOMURSXQl
 yA40w6e+lhSq7HvYOLEB4A==

<SEC-DOCUMENT>0001179110-08-021205.txt : 20081218
<SEC-HEADER>0001179110-08-021205.hdr.sgml : 20081218
<ACCEPTANCE-DATETIME>20081218180224
ACCESSION NUMBER:		0001179110-08-021205
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081120
FILED AS OF DATE:		20081218
DATE AS OF CHANGE:		20081218

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MILLER E BARGER III
		CENTRAL INDEX KEY:			0001263978

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12697
		FILM NUMBER:		081258382

	BUSINESS ADDRESS:	
		STREET 1:		2425 FOUNTINVIEW DR
		STREET 2:		STE 215
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77057
		BUSINESS PHONE:		713-622-9494

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 22827
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77227
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4/A -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2008-11-20</periodOfReport>

    <dateOfOriginalSubmission>2008-11-20</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001263978</rptOwnerCik>
            <rptOwnerName>MILLER E BARGER III</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>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-11-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>31250</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.00</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>257000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">This sale resulted from a margin call by a broker to whom these shares were pledged.</footnote>
        <footnote id="F2">Represents 56 independent sales as follows: 3 independent sales for a total of 16400 shares at $3.95, 3 independent sales for a total of 800 shares at $3.98, 1 independent sale for a total of 1300 shares at $3.99, 8 independent sales for a total of 2600 shares at $4, 5 independent sales for a total of 1000 shares at $4.01, 1 independent sale for a total of 1000 shares at $4.03, 2 independent sales for a total of 500 shares at $4.04, 2 independent sales for a total of 600 shares at $4.05, 4 independent sales for a total of 400 shares at $4.07, 3 independent sales for a total of 2150 shares at $4.08, 4 independent sales for a total of 400 shares at $4.09, 7 independent sales for a total of 1900 shares at $4.1, and 13 independent sales for a total of 2200 shares at $4.11.</footnote>
        <footnote id="F3">Execution price of each trade was between $3.95 and $4.11</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ E. Barger Miller III</signatureName>
        <signatureDate>2008-12-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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