X0202 4 2005-07-28 0 0001023734 BPZ ENERGY INC BPZI 0001328004 Briens Frederic 11999 KATY FREEWAY SUITE 560 KATY TX 77079 0 1 0 0 Chief Operating Officer Common Stock 2005-07-28 4 J 0 57779 A 112348 D Represents distribution of the second tranche of earn-out shares, related to obtaining timely certification of certain reserves, in accordance with the Merger Agreement dated July 8, 2004 by and between Navidec, Inc. and the Company. Frederic Briens 2005-08-01