HOUSTON, Feb. 1 /PRNewswire-FirstCall/ -- Blast Energy Services (OTC:BESV) (BULLETIN BOARD: BESV) today reported that it has achieved a significant turnaround in their Satellite business during 2005. The Company expects to report more than a 50% increase in satellite revenues over 2004 - contributing to a positive gross margin for the first time in the annual results for this division. Additionally, the Company has recently hired satellite industry veteran, Eugene "Boo" Bonner, as a Senior Sales Consultant to bring depth and experience to their satellite sales and marketing efforts. Blast provides broadband satellite solutions to energy companies throughout the world. "We are extremely pleased to have someone of Mr. Bonner's experience and reputation join the team at Blast," said Andrew Wilson, VP and GM of the Satellite Division. "He is renowned in the industry for his fairness, integrity and doing what is right for his customers. We look forward to his contributions in continuing to grow our domestic and international business." Mr. Bonner has over thirty years of communications experience - beginning with the advent of undersea cable, through analog microwave, digital microwave and satellite communications. He began his career with Data Com, which became Stratus Global, the largest independent satellite provider in the industry, and subsequently he worked with Sola Communications where he built the satellite business into a multi-million dollar division. He has also been involved in many of the largest communications projects conducted by major oil companies over that last 3-5 years, including projects located in the Gulf of Mexico, Africa and Brazil. With Blast, Mr. Bonner will be marketing the latest generation of broadband satellite services powered by Very Small Aperture Terminal (VSAT) technology that enables data, internet, VoIP and video streaming exchange outside the limits of the public telecom infrastructure, such as in remote drilling locations and in offshore waters. Meanwhile, in the Company's down-hole services business, construction of their first abrasive fluid jetting (AFJ) rig is expected to be completed this week. Diagnostic testing and surface casing cutting demonstrations are being planned for late next week. Following the favorable completion of this shake down phase, the rig is scheduled to be deployed to a job in Louisiana to begin testing AFJ applications in a down-hole environment. Blast plans to make a report to the public based on the results of the abrasive cutting tests. In other related news, Blast Energy Services has engaged Friedland Corporate Investor Services to provide Investor Relations and Financial Marketing services with the objective to increase financial community and investor awareness. This will also support Blast Energy's intention to apply for a listing on the American Stock Exchange (AMEX) during 2006. To learn more about the services provided by New York-based Friedland Corporate Investor Services, you may visit their website at: http://www.friedlandworldwide.com/. Also, in another effort to increase awareness among the members of the financial community, Blast Energy's management will present at the National Investment Bankers Association (NIBA) conference that will be held in Orlando on February 16th & 17th. About Blast Energy Services, Inc. Blast Energy Services, Inc. is a publicly traded company based in Houston. Our mission is to substantially improve the economics of existing oil and gas operations through the application of our worldwide licensed and proprietary technologies. Using specially fabricated mobile drilling rigs we intend to operate a commercially viable energy service business, including: specialty casing cutting, perforation, fracturing services and lateral drilling with the potential to penetrate through well casing and into reservoir formations to stimulate oil and gas production. This service should provide oil and gas producers with an attractive, lower cost alternative to existing well stimulation or horizontal drilling services. Additionally, we are providing satellite services to oil and gas producers. This service allows them to monitor and control well head, pipeline or drilling operations through low- cost broadband data and voice services from remote operations where conventional land based communication networks do not exist or are too costly to install. Please visit our website: http://www.blastenergyservices.com/. Safe Harbor Statement Any statements made in this news release other than those of historical fact, about an action, event or development, are forward looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. Such factors may include risk factors including but not limited to: the ability to raise necessary capital to fund growth, adequate liquidity to manage operations and debt obligations, the introduction of new services, commercial acceptance and viability of new services, fluctuations in customer demand and commitments, pricing and competition, reliance upon lenders, contractors and vendors, the ability of Blast Energy Services' customers to pay for our services, together with such other risk factors as may be included in the Company's filings on Form SB-2 and its periodic filings on Form 10-KSB, 10-QSB, and other current reports. First Call Analyst: FCMN Contact: DATASOURCE: Blast Energy Services, Inc. CONTACT: John MacDonald of Blast Energy Services, Inc., +1-281-453-2888, or +1-713-725-9244, or Web site: http://www.blastenergyservices.com/ http://www.friedlandworldwide.com/

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