PEDEVCO CORP — Director's Dealing 2011

May 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLAST ENERGY SERVICES, INC. (BESV.OB)
CIK: 0001141197
Period of Report: 2011-02-01

Reporting Person: PETERSON MICHAEL L (Director, CEO and President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-01	Common Stock	A	1000000	$0.09	Acquired	1750000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-01	Stock Options	$0.09	A	1000000	Acquired	2021-02-01	Common Stock (1000000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50000	Direct

Footnotes

F1: There have been no changes to the derivative securities originally reported in the Form 3 filed by the Reporting Person on August 5, 2009, other than the fact that all 150,000 Stock Options awarded to the Reporting Person on May 5, 2008, which vested quarterly to the Reporting Person over a three year period have now fully vested (only 100,000 such options had vested as of August 5, 2009).

F2: Issued in consideration for services rendered.