PEDEVCO (PED) 8-K Regulation FD Disclosure

Guijarral Hills Field

Exploitation Project

Safe Harbor Disclosure

An investment in Blast Energy Services, Inc. (the “Company”) involves a
high degree of risk and is suitable only for investors with substantial
means who have no need for liquidity in their investments. No one
should invest in the Company’s securities who cannot afford to lose their
entire investment.

In making any investment decision in the Company, investors must rely
on their examination of the Company and the terms of any offering,
including the merits and risks involved. This presentation contains
forward-looking statements. Actual results, events or conditions could
differ materially from those projected by the Company due to a variety of
factors, some of which are beyond the control of the Company.

Neither the United States Securities and Exchange Commission (the
“SEC”) nor any state securities administrator has approved or
disapproved any securities of the Company nor has the SEC or any
state securities administrator passed upon the adequacy or accuracy of
the disclosures contained herein or the merits of an investment in the
Company.  Any representation to the contrary is a criminal offense.

Guijarral Hills Field Exploitation Project

üBlast is seeking an initial $3M investment in the form
of debt financing to “farmin” or invest in drilling one
well on the initial prospect in the Guijarral Hills in
Central California

üBy participating in the initial well, Blast expects to
realize a 34.5% interest in the program’s entire 2,543
acre position where four target zones are known to
produce - the initial well is planned to penetrate all
four zones to obtain rights

üMost promising initial well site has been identified and
permitted through extensive geological evaluation and
study of adjacent wells drilled by Chevron & Union Oil
amongst others in over 100 wells drilled in the area

Guijarral Hills Field Exploitation Project

üUnique opportunity to invest in California “in-field”
drilling project

üAdjacent fields exploited by Chevron and Union Oil in
1940s and 1950s

üLeases originally held by Chevron and Cal Minerals -
never exploited

üProject lies between two fields that produced over
50M barrels of oil

üAlong this trend over 2Bn barrels of oil produced from
four major fields

üEvery one of the four target zones has produced oil in
adjacent wells

üFirst well in this Project is permitted and ready to drill

Bakersfield

Guijarral Hills Field
Project Area

From: DOGGR Oil and Gas Fields of California

Guijarral Hills Field Exploitation Project
Project Highlights

üUp to 25 Million barrel reserve potential.

üWithin 1000 feet of production from a 50 Million barrel
oil field.

üPotential production from four reservoirs proven
productive within the field.

üMultiple targets can be tested with one well.

üOn the nose of a Guijarral Hills/Coalinga anticline.

üOil is migrating in the present day.

ü25 - 40 API gravity oil

Guijarral Hills Field Exploitation Project
Objective Drilling Zones

üTemblor: Up to 10 million barrels of oil in place

–Smith sand:

»Porosity: 15 - 23%

»Permeability 50 - 100 md

–Allison sand:

»Porosity 20%

»Permeability 100 - 200 md

–Leda sand:

»Porosity 15 - 20%

»Permeability 50 - 400 md

üAvenal/Gatchell: Up to 20 million barrels of oil in place

–Porosity: 10 - 15

–Permeability: 10 - 300 md

üAll these zones were proven to be productive at the nearby
Guijarral Hills Field

Guijarral Hills Field Exploitation Project
Economic Assumptions

üAssumes $80/bbl oil price with an initial flow rate of
435 equivalent bbls/day.

üExpenses assume that wells flow for two years before
requiring pumps to be installed.

üUnder the terms of the proposed farmin, Blast will
have a 67% working interest in the costs to bring the
initial well on to production - which then drops to 50%
on future wells and capital costs in the project.

üAssumes first revenue in June 2011.

Guijarral Hills Field Exploitation Project
Economic Impact

üSuccessful outcome in the first well has an estimated
Net Present Value at 10% to Blast of $17,604 MM.

üA successful initial well is projected to generate six
times more revenue annually than our current base
business.

üProjected initial investment payout reached within one
year.

üAssumes completion in only the Leda sand, one of
four potential zones in the well.

üDoes not include any economic benefit from
additional development wells that may be drilled on
this section or the acreage sections earned in the
Project by participating in the initial well.

Guijarral Hills Exploitation Project
Use Of Proceeds and Collateral Available

Gross Proceeds$3,000,000

Cost to Drill Initial Well $1,540,000

Cost to Complete Well600,000

Repayment of Sun Resources Note270,000

Escrow of 1st Year Interest240,000

Commission, Fees and Attorneys350,000

Total Uses $3,000,000

Security for Senior Loan

1.Lawsuit settlement due September 2011 for $1,440,000

2.Sugar Valley Field valued at PV10 of $1.2M, cash flowing
approx. $50,000 per quarter

Guijarral Hills Field Exploitation Project
Upside Potential

Twelve Well Case:

üDevelopment drilling following a successful initial well
could support up to eleven additional wells being
drilled to exploit all four zones on this one tract.

üIn this case, Blast may need to seek additional funds
of up to $24 MM over the next two years.

Thirty Well Case:

üDevelopment and exploratory drilling on the other
tracts in the Project could result in an additional 18
wells being drilled.

üIn this case, Blast may need to seek additional funds
of up to $60 MM over the next three to four years.

Blast Energy Services, Inc.
Capitalization Table

	Preferred	Common
Authorized	20,000,000	180,000,000
Issued and Outstanding*	6,000,000	**66,759,238
Reserved for Unexercised Warrants		***11,495,089
Reserved for Unexercised Options		2,593,959
Total Outstanding and Reserved	6,000,000	80,848,286
* Includes 6,000,000 preferred shares and 14,481,534 common shares owned by Clyde Berg, Eric McAfee and their affiliates
** Excludes 1,150,000 shares approved but not yet issued under the terms of the 2005 class action settlement
*** Includes warrants to purchase 6,090,000 @ $1.44 per share and 1,555,089 @ $0.01 per share owned by Laurus Master Fund and warrants to purchase 2,000,000 shares owned by Berg McAfee affiliates.

Guijarral Hills Field

Exploitation Project