-----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,
 QwoUGIh2rZuCVa10Gy9V1Bw3psM2l/vLGoDTctS+D1vittzYHb6+BFFK241aH3Z1
 06oEgETe6lrWVGsPpg+jtA==

<SEC-DOCUMENT>0001179110-08-017211.txt : 20080923
<SEC-HEADER>0001179110-08-017211.hdr.sgml : 20080923
<ACCEPTANCE-DATETIME>20080923215059
ACCESSION NUMBER:		0001179110-08-017211
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080922
FILED AS OF DATE:		20080923
DATE AS OF CHANGE:		20080923

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:			Zuniga Pflucker Manuel Pablo
		CENTRAL INDEX KEY:			0001303299

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12697
		FILM NUMBER:		081085613

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(281) 556-6200

	MAIL ADDRESS:	
		STREET 1:		4226 CASSIDY PARK LN.
		CITY:			KATY
		STATE:			TX
		ZIP:			77450
</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>2008-09-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001303299</rptOwnerCik>
            <rptOwnerName>Zuniga Pflucker Manuel Pablo</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>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President &amp; CEO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4700</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F7"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>18.20</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5103016</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>300</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F7"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>19.423</value>
                    <footnoteId id="F5"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5102716</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-09-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F7"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>18.076</value>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5097716</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents 15 independent sales of: 3200 Shares at $18.00,100 Shares at $18.24,100 Shares at $18.42,100 Shares at $18.46,100 Shares at $18.50,100 Shares at $18.51,100 Shares at $18.53,100 Shares at $18.54,100 Shares at $18.58,100 Shares at $18.59,200 Shares at $18.72, 100 Shares at 18.73, 200 Shares at $18.89,and 100 Shares at $18.95.</footnote>
        <footnote id="F2">Represents 3 independent sales of: 100 Shares at $19.33,100 Shares at $19.34 and 100 Shares at $19.60.</footnote>
        <footnote id="F3">Represents 8 independent sales of: 246 Shares at $18.00,200 Shares at $18.01,654 Shares at $18.05,200 Shares at $18.06,3400 Shares at $18.08,100 Shares at $18.11,100 Shares at $18.25,and 100 Shares at $18.27.</footnote>
        <footnote id="F4">Execution price of each trade was between $18.00 and $18.95.</footnote>
        <footnote id="F5">Execution price of each trade was between $19.33 and $19.60</footnote>
        <footnote id="F6">Execution price of each trade was between $18.00 and $18.27.</footnote>
        <footnote id="F7">These shares were sold pursuant to the provisions of a Rule 10b(5)-1 Plan established in June 2008.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Manuel Pablo Zuniga-Pflucker</signatureName>
        <signatureDate>2008-09-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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