PEDEVCO CORP — Director's Dealing 2012

Feb 18, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLAST ENERGY SERVICES, INC. (BESV.OB)
CIK: 0001141197
Period of Report: 2012-01-13

Reporting Person: BERG CLYDE J (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-13	Convertible Promissory Note	$0.02	A	56000000	Acquired	2013-02-27	Common Stock (56000000)	Indirect
2012-01-13	Convertible Promissory Note	$0.02	A	5000000	Acquired		Common Stock (5000000)	Direct

Footnotes

F1: On January 13, 2012, Berg McAfee Companies, LLC ("BMC") and Clyde Berg entered into a Debt Conversion Agreement (the "BMC Debt Conversion Agreement"). The BMC Debt Conversion Agreement modified the conversion rate of a Convertible Promissory Note held by BMC and a note held by Mr. Berg (the "Notes") to provide that all principal and accrued interest under such Notes shall be converted into shares of the Company's common stock at a conversion price to Two Cents ($0.02) per share (the "Conversion"), subject to certain requirements and conditions as set forth in the BMC Debt Conversion Agreement.

F2: Represents common stock issuable upon conversion of the principal amount of the Notes and does not factor in accrued interest thereon, which is also convertible.

F3: Represents the date the Convertible Note is due.

F4: Clyde Berg and Eric McAfee are deemed to beneficially own the securities held by Berg McAfee Companies, LLC.

F5: Not applicable.