Document:

EXHIBIT 10.2

THE SECURITIES REPRESENTED BY THIS WARRANT AND THE COMMON STOCK ISSUABLE THEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT), OR ANY OTHER APPLICABLE SECURITIES LAW AND, ACCORDINGLY, THE
SECURITIES REPRESENTED BY THIS WARRANT MAY NOT BE RESOLD, PLEDGED, OR OTHERWISE
TRANSFERRED, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER, OR IN
A TRANSACTION EXEMPT FROM REGISTRATION UNDER, THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS.

                                     WARRANT

                 To Purchase 1,000,000 Shares of Common Stock of

                    BPZ ENERGY, INC. (formerly Navidec, Inc.)

      Issue Dale: March 21, 2005 (Pursuant to Agreement dated July 8, 2004)

    Exercise Price: $2.00 per share, subject to adjustment as provided below.

     This Common Stock Purchase Warrant (the "Warrant") certifies that for value
received, Navidec Financial Services, Inc, (the "Holder") or its assigns, is
entitled to subscribe for and purchase from the Company (as hereinafter
defined), in whole or in part, 1,000,000 shares of duty authorized, validly
issued, fully paid and nonassessable shares of Common Stock (as hereinafter
defined) at an initial Exercise Price (as hereinafter defined) per share of
$2.00, subject, however, to the provisions and upon the terms and conditions
hereinafter set forth. The number of Warrants (as hereinafter defined), the
number of shares of Common Stock purchasable hereunder, and the Exercise Price
therefor are subject to adjustment as hereinafter set forth. This Warrant and
all rights hereunder shall expire at 5:00 p.m., Houston, Texas time, on the
Expiration Date (as hereinafter defined).

As used herein, the following terms shall have the meanings set forth below:

     "Company" shall mean BPZ Energy, Inc., a Colorado corporation, (formerly
Navidec, Inc.) and shall also include any successor thereto with respect to the
obligations hereunder, by merger, consolidation or otherwise.

     "Common Stock" shall mean and include the Company's Common Stock, no par
value, and shall also include (i) in case of any reorganization,
reclassification, consolidation, merger, share exchange or sale, transfer or
other disposition of assets of the character referred to in Section 3.5 hereof,
the stock, cash, assets or other securities provided for in such Section 3.5 and
(ii) any other shares of common stock of the Company into which such shares of
Common Stock may be converted.

     "Exercise Date" shall have the meaning set forth in Section 1.3 herein.

     "Exercise Price" shall mean the initial purchase price of $2.00 per share
of Common Stock payable upon exercise of the Warrants, as adjusted from time to
time pursuant to the provisions herein.

     "Expiration Date" shall mean 5:00 p.m., Houston, Texas time, on July 31.
2006.

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     "Outstanding" when used with reference to Common Stock, shall mean (except
as otherwise expressly provided herein) at any date as of which the number of
shares thereof is to be determined, all issued shares of Common Stock, except
shares then owned or held by or for the account of the Company.

     "Person" shall mean an individual, a corporation, a company, an
association, a firm, a partnership, a society, a joint stock company; or any
other organization or institution or anyone who acts for such a person in a
representative capacity.

     "Warrant" shall mean the right upon exercise to purchase one Warrant Share.

     "Warrant Office" shall have the meaning set forth in Section 2.1 herein.

     "Warrant Shares" shall mean the shares of Common Stock purchased or
purchasable by the holder hereof upon the exercise of the Warrants.

                                    ARTICLE I

                              EXERCISE OF WARRANTS

     1.1 Method of Exercise. The Warrants represented hereby may be exercised by
the holder hereof, in whole or in part, at any time and from time to time, until
5:00 p.m., Houston, Texas time on the Expiration Date under the provisions of
Section 1.2. Notwithstanding the foregoing, the Warrants may not be exercised
unless the Company has sufficient authorized shares available for issuance of
the Warrant Shares or until such time as an amendment to the Articles of
incorporation of the Company providing for an increase in the authorized shares
of the Company sufficient to issue the Warrant Shares has been approved by the
shareholders of the Company.

     1.2 Exercise For Cash. To exercise the Warrants, the holder hereof shall
deliver to the Company, at the Warrant Office designated in Section 2.1 hereof,
(i) a written notice in the form of the Exercise Notice attached as Exhibit "A"
hereto, staling therein the election of such holder to exercise the Warrants in
the manner provided in the Exercise Notice; (ii) payment in full of the Exercise
Price in cash or by certified or official bank check payable to the order of the
Company or by wire transfer of immediately available funds to the account of the
Company for all Warrant Shares purchased hereunder; and (iii) this Warrant. The
Company may, at its option, accept a non-certified check in payment for the
Warrant Shares, but will not issue the Warrant Shares to the holder until such
time as the Company has received available funds in its bank account.

     1.3 Delivery of Warrant Shares. The Warrants shall be deemed to be
exercised on the date of receipt by the Company of (i) the Exercise Notice (ii)
payment in good funds for the Warrant Shares, and (iii) surrender of this
Warrant, as aforesaid, and such date is referred to herein as the "Exercise
Date". Upon such exercise, the Company shall, as promptly as practicable and in
any event within ten (10) business days, issue and deliver to such holder a
certificate or certificates for the full number of the Warrant Shares purchased,
and shall, unless the Warrants have expired, deliver to the holder hereof a new
Warrant representing the number of Warrants, if any, that shall not have been
exercised, in all other respects identical to this Warrant. As permitted by
applicable law, the Person in whose name the certificates for Common Stock are
to be issued shall be deemed to have become a holder of record of such Common
Stock on the Exercise Date and shall be entitled to all of the benefits of such
holder on the Exercise Date, including without limitation the right to receive
dividends and other distributions for which the record date falls on or after
the Exercise Date and to exercise voting rights.

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     1.4 Expenses and Taxes. The Company shall pay all expenses, and taxes
(including, without limitation, all documentary, stamp, transfer or other
transactional taxes) other than income taxes, attributable to the preparation,
issuance or delivery of the Warrants and of the shares of Common Stock issuable
upon exercise of the Warrants. To the extent that this Warrant may have a
compensatory aspect to the holder at the time of its issuance, the Company will
fully comply with the reporting requirements of the Internal Revenue Service,
which it shall determine in its sole discretion, including the reporting of any
gain which may be realized upon exercise.

     1.5 Reservation of Shares. At all times after the date of an amendment to
the Articles of Incorporation of the Company providing for an increase in the
authorized shares of the Company sufficient to issue the Warrant Shares, for so
long as the Warrants remain outstanding, the Company shall reserve, free from
preemptive rights, out of its treasury Common Stock or its authorized but
unissued shares of Common Stock, or both, solely for the purpose of effecting
the exercise of the Warrants, a sufficient number of shares of Common Stock to
provide for the exercise of the Warrants.

     1.6 Valid Issuance. All shares of Common Stock that may be issued upon
exercise of the Warrants will, upon issuance by the Company, be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issuance thereof and, without limiting the generality of the
foregoing, the Company shall take no action or fail to take any action which
will cause a contrary result (including, without limitation, any action that
would cause the Exercise Price to be less than the par value, if any, of the
Common Stock).

     1.7 Acknowledgment of Registration Rights. The Company agrees that it will
include the Warrant Shares in the next registration statement filed subsequent
to the issuance of this Warrant on a registration form that may be utilized for
this purpose, to the extent it is legally permitted to do so. Once filed, the
Company will use commercially reasonable efforts to have such registration
statement declared effective within a reasonable time after filing. Should any
holder exercise Warrants prior to the registration statement being effective,
the registration statement shall reflect or be amended to reflect that the
registration covers the resale of the Warrant Shares of any holder electing to
exercise the Warrant prior to the effectiveness of the registration statement.
All of the expenses of the registration shall be borne by the Company, except
for any underwriting fees attributable to the Warrant Shares. The Company shall
have the right to delete from any resale registration statement the securities
of any Warrant holder or holder of any Common Stock issued hereunder who fails
to respond to a request for reasonable information deemed necessary for
inclusion in the registration statement. The registration rights contained
herein shall survive the exercise of the Warrants and shall remain binding upon
the Company and the holder of the Warrants or the Common Stock issued hereunder
until such time as such registration rights are no longer in force and effect.
At the time of the exercise of the Warrants in accordance with the terms hereof
and upon the written request of the holder hereof, the Company will acknowledge
in writing its continuing obligation to afford to such holder those rights
contained in this Section 1.7.

     1.8 No Fractional Shares. The Company shall not be required to issue
fractional shares of Common Stock on the exercise of this Warrant. If more than
one Warrant shall be presented for exercise at the same time by the same holder,
the number of full shares of Common Stock which shall be issuable upon such
exercise shall be computed on the basis of the aggregate number of whole shares
of Common Stock purchasable on exercise of the Warrants so presented. If any
fraction of a share of Common Stock would, except for the provisions of this
Section 1.8, be issuable upon the exercise of this Warrant, the Company

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shall pay an amount in cash calculated by it to be equal to the closing market
price of one share of Common Stock on the last trading day immediately preceding
the Exercise Date, multiplied by such fraction, computed to the nearest whole
cent.

                                   ARTICLE II

                                    TRANSFER

     2.1 Warrant Office. The Company shall maintain an office for certain
purposes specified herein (the "Warrant Office"), which office shall initially
be the Company's offices at 11999 Katy Freeway, Suite 560, Houston, Texas 77079,
and may subsequently be such other office of the Company or of any transfer
agent of the Common Stock in the continental United States as to which written
notice has previously been given to the holder hereof. The Company shall
maintain, at the Warrant Office, a register for the Warrants in which the
Company shall record the name and address of the Person in whose name this
Warrant has been issued, as well as the name and address of each permitted
assignee of the rights of the registered owner hereof.

     2.2 Ownership of Warrants. The Company may deem and treat the Person in
whose name the Warrants are registered as the holder and owner hereof
(notwithstanding any notations of ownership or writing hereon made by anyone
other than the Company) for all purposes and shall not be affected by any notice
to the contrary until presentation of this Warrant for registration of transfer
as provided in this Article II. Notwithstanding the foregoing, the Warrants
represented hereby, if properly assigned in compliance with this Article lI, may
be exercised by an assignee for the purchase of Warrant Shares without having a
new Warrant issued.

     2.3 Restrictions on Transfer of Warrants. The Company agrees to maintain at
the Warrant Office books for the registration and transferor the Warrants.
Subject to the restrictions on transfer of the Warrants in this Section 2.3, the
Company, from time to time, shall register the transfer of the Warrants in such
books upon surrender of this Warrant at the Warrant Office property endorsed or
accompanied by appropriate instruments of transfer and written instructions for
transfer satisfactory to the Company as reflected in the Assignment Notice
attached as Exhibit "B" hereto. Upon any such transfer and upon payment by the
holder or its transferee of any applicable transfer taxes, new Warrants shall be
issued to the transferee and the transferor (as their respective interests may
appear) and the surrendered Warrants shall be canceled by the Company. The
Company shall pay all taxes (other than securities transfer taxes or income
taxes) and all other expenses and charges payable in connection with the
transfer of the Warrants pursuant to this Section 2.3.

          2.3.1 The holder of the Warrants agrees that it will neither (i)
transfer the Warrants prior to delivery to the Company of written notice of such
transfer, nor (ii) transfer such Warrant Shares prior to delivery to the Company
of written notice of such transfer, or until registration of such Warrant Shares
under the Securities Act and any applicable state securities or blue sky laws
has become effective.

     2.4 Compliance with Securities Laws. The holder hereof understands and
agrees that the following restrictions and limitations shall be applicable to
all Warrant Shares and to all resales or other transfers thereof pursuant to the
Securities Act:

          2.4.1 The holder hereof agrees that the Warrant Shares shall not be
sold or otherwise transferred unless the Warrant Shares are registered under the
Securities Act and applicable state securities or blue sky laws or are exempt
therefrom.

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          2.4.2 A legend in substantially the following form will be placed on
the certificate(s) evidencing the Warrant Shares:

           "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
           REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
           "SECURITIES ACT"), OR ANY OTHER APPLICABLE SECURITIES LAW AND,
           ACCORDINGLY, THE SECURITIES REPRESENTED BY THIS CERTIFICATE
           MAY NOT BE RESOLD, PLEDGED, OR OTHERWISE TRANSFERRED, EXCEPT
           PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER, OR IN A
           TRANSACTION EXEMPT FROM REGISTRATION UNDER, THE SECURITIES ACT
           AND IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS."

          2.4.3 Stop transfer instructions will be imposed with respect to the
Warrant Shares so as to restrict resale or other transfer thereof, subject to
this Section 2.4.

          2.4.4 The holder understands that it must bear the economic risk of
the investment for an indefinite period of time because the Warrant Shares have
not been registered under the Securities Act and therefore cannot be sold unless
they are subsequently registered under the Securities Act or an exemption from
such registration is available. The holder acknowledges that the holder or the
holder's representative is familiar with the condition, financial and otherwise,
of the Company. The Company will provide any information which the holder or the
holder's representative may reasonably request and which the Company can legally
provide, in connection with the holder's decision to acquire or exercise this
Warrant. The holder or the holder's representative has such knowledge and
experience in financial and business matters that the holder or the holder's
representative is able to weigh the information so received and to evaluate the
merits and risks of the holder's investment in the Warrant Shares.

                                   ARTICLE III

                                  ANTI-DILUTION

     3.1 Stock Splits and Reverse Splits. In the event that the Company shall at
any time subdivide its outstanding shares of Common Stock into a greater number
of shares, the Exercise Price in effect immediately prior to such subdivision
shall be proportionately reduced and the number of Warrant Shares purchasable
pursuant to this Warrant immediately prior to such subdivision shall be
proportionately increased, and conversely, in the event that the outstanding
shares of Common stock shall at any lime be combined into a smaller number of
shares, the Exercise Price in effect immediately prior to such combination shall
be proportionately increased and the number of Warrant Shares purchasable upon
the exercise of this Warrant immediately prior to such combination shall be
proportionately reduced. Except as provided in this Section 3.1, no adjustment
in the Exercise Price and no change in the number of Warrant Shares purchasable
shall be made under this Article III as a result of or by reason of any such
subdivision or combination.

     3.2 Reorganizations and Asset Sales. If any capital reorganization or
reclassification of the capital stock of the Company, or any consolidation,
merger or share exchange of the Company with another Person, or the sale,
transfer or other disposition of all or substantially all of its assets to
another Person shall be effected in such a way that a holder of Common Stock of
the Company shall be entitled to receive capital stock, securities or assets
with respect to or in exchange for their shares, then the following provisions
shall apply:

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          3.2.1 As a condition of such reorganization, reclassification,
consolidation, merger, share exchange, sale, transfer or other disposition
(except as otherwise provided below in this Section 3.2), lawful and adequate
provisions shall be made whereby the holder of Warrants shall thereafter have
the right to purchase and receive upon the terms and conditions specified in
this Warrant and in lieu of the Warrant Shares immediately theretofore
receivable upon the exercise of the rights represented hereby, such shares of
capital stock, securities or assets as may be issued or payable with respect to
or in exchange for a number of outstanding shares of such Common Stock equal to
the number of Warrant Shares immediately theretofore so receivable had such
reorganization, reclassification, consolidation, merger, share exchange or sale
not taken place, and in any such case appropriate provision reasonably
satisfactory to such holder shall be made with respect to the rights and
interests of such holder to the end that the provisions hereof (including,
without limitation, provisions for adjustments of the Exercise Price and of the
number of Warrant Shares receivable upon the exercise) shall thereafter be
applicable, as nearly as possible, in relation to any shares of capital stock,
securities or assets thereafter deliverable upon the exercise of Warrants.

          3.2.2 In the event of a merger, share exchange or consolidation of the
Company with or into another Person as a result of which a number of shares of
common stock or its equivalent of the successor Person greater or lesser than
the number of shares of Common Stock outstanding immediately prior to such
merger, share exchange or consolidation are issuable to holders of Common Stock,
then the Exercise Price in effect immediately prior to such merger, share
exchange or consolidation shall be adjusted in the same manner as though there
were a subdivision or combination of the outstanding shares of Common Stock.

          3.2.3 The Company shall not effect any such consolidation, merger,
share exchange, sale, transfer or other disposition unless prior to or
simultaneously with the consummation thereof the successor Person (if other than
the Company) resulting from such consolidation, share exchange or merger or the
Person purchasing or otherwise acquiring such assets shall have assumed by
written instrument executed and mailed or delivered to the holder hereof at the
last address of such holder appearing on the books of the Company the obligation
to deliver to such holder such shares of capital stock, securities or assets as,
in accordance with the foregoing provisions, such holder may be entitled to
receive, and all other liabilities and obligations of the Company hereunder.
Upon written request by the holder hereof, such successor Person will issue a
new Warrant revised to reflect the modifications in this Warrant effected
pursuant to this Section 3.2.

          3.2.4 If a purchase, tender or exchange offer is made to and accepted
by the holders of 50% or more of the outstanding shares of Common Stock, the
Company shall not effect any consolidation, merger, share exchange or sale,
transfer or other disposition of all or substantially all of the Company's
assets with the Person having made such offer or with any affiliate of such
Person, unless prior to the consummation of such consolidation, merger, share
exchange, sale, transfer or other disposition the holder hereof shad have been
given a reasonable opportunity to then elect to receive upon the exercise of the
Warrants either the capital stock, securities or assets then issuable with
respect to the Common Stock or the capital stock, securities or assets, or the
equivalent, issued to previous holders of the Common Stock in accordance with
such offer.

     3.3 Adjustment for Asset Distribution. If the Company declares a dividend
or other distribution payable to all holders of shares of Common Stock in
evidences of indebtedness of the Company or other assets of the Company
(including cash (other than regular cash dividends declared by the Board of
Directors), capital stock (other than Common Stock, Convertible Securities or
options or rights thereto) or other property), the Exercise Price in effect
immediately prior to such declaration of such dividend or other distribution

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shall be adjusted by multiplying such Exercise Price by a fraction, the
numerator of which shall be the current market price per share of Common Stock
on the record date for making such dividend or distribution, less the amount of
such dividend or distribution, in the case of a cash dividend or distribution,
or the fair market value of such dividend or distribution (as determined in good
faith by, and reflected in a formal resolution of, the Board of Directors of the
Company) in the case of any other dividend or distribution, applicable to one
share of Common Stock, and the denominator of which shall be such current market
price per share of Common Stock. Such reduction shall be made whenever any such
dividend or distribution is made and shall be effective as of the date as of
which a record is taken for purpose of such dividend or distribution or, if a
record is not taken, the date as of which holders of record of Common Stock
entitled to such dividend or distribution are determined. The "current market
price" per share of Common Stock shall be the closing market price of one share
of Common Stock on the last trading day immediately preceding the event
requiring an adjustment.

     3.4 Notice of Adjustment. Whenever the Exercise Price or the number of
Warrant Shares issuable upon the exercise of the Warrants shall be adjusted as
herein provided, or the rights of the holder hereof shall change by reason of
other events specified herein, the Company shall compute the adjusted Exercise
Price and the adjusted number of Warrant Shares in accordance with the
provisions hereof and shall prepare an Officer's Certificate setting forth the
adjusted Exercise Price and the adjusted number of Warrant Shares issuable upon
the exercise of the Warrants or specifying the other shares of stock, securities
or assets receivable as a result of such change in rights, and showing in
reasonable detail the facts and calculations upon which such adjustments or
other changes are based. The Company shall cause to be mailed to the holder
hereof copies of such Officer's Certificate together with a notice stating that
the Exercise Price and the number of Warrant Shares purchasable upon exercise of
the Warrants have been adjusted and setting forth the adjusted Exercise Price
and the adjusted number of Warrant Shares purchasable upon the exercise of the
Warrants.

     3.5 Notifications to Holders. In case at any time the Company proposes:

          (i) to declare any dividend upon its Common Stock payable in capital
     stock or make any special dividend or other distribution (other than cash
     dividends) to the holders of its Common Stock;

          (ii) to offer for subscription pro rata to all of the holders of its
     Common Stock any additional shares of capital stock of any class or other
     rights;

          (iii) to effect any capital reorganization, or reclassification of the
     capital stock of the Company, or consolidation, merger or share exchange of
     the Company with another Person, or sale, transfer or other disposition of
     all or substantially all of its assets; or

          (iv) to effect a voluntary or involuntary dissolution, liquidation or
     winding up of the Company,

 then, in any one or more of such cases, the Company shall give the holder
 hereof (a) at least 10 days' (but not more than 90 days') prior written notice
 of the date on which the books of the Company shall close or a record shall be
 taken for such dividend, distribution or subscription rights or for determining
 rights to vote in respect of such issuance, reorganization, reclassification,
 consolidation, merger, share exchange, sale, transfer, disposition,
 dissolution, liquidation or winding up, and (b) in the case of any such
 issuance, reorganization, reclassification, consolidation, merger, share
 exchange, sale, transfer, disposition, dissolution, liquidation or winding up,
 at least 10 days' (but not more than 90 days') prior written notice of the

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date when the same shall take place. Such notice in accordance with the
foregoing clause (a) shall also specify, in the case of any such dividend,
distribution or subscription rights, the date on which the holders of Common
Stock shall be entitled thereto, and such notice in accordance with the
foregoing clause (b) shall also specify the date on which the holders of Common
Stock shall be entitled to exchange their Common Stock, as the case may be, for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, share exchange, safe, transfer,
disposition, dissolution, liquidation or winding up, as the case may be.

                                   ARTICLE IV

                                  MISCELLANEOUS

     4.1 Entire Agreement. This Warrant contains the entire agreement between
the holder hereof and the Company with respect to the Warrant Shares purchasable
or issuable upon exercise hereof and the related transactions and supersedes all
prior arrangements or understandings with respect thereto.

     4.2 Governing Law. This warrant shall be governed by and construed in
accordance with the laws of the State of Texas.

     4.3 Waiver and Amendment. Any term or provision of this Warrant may be
waived at any time by the party which is entitled to the benefits thereof and
any term or provision of this Warrant may be amended or supplemented at any time
by agreement of the holder hereof and the Company, except that any waiver of any
term or condition, or any amendment or supplementation, of this Warrant shall be
in writing. A waiver of any breach or failure to enforce any of the terms or
conditions of this Warrant shall not in any way effect, limit or waive a party's
rights hereunder at any time to enforce strict compliance thereafter with every
term or condition of this Warrant,

     4.4 Illegality. In the event that any one or more of the provisions
contained in this Warrant shall be determined to be invalid, illegal or
unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in any other respect and the remaining
provisions of this Warrant shall not, at the election of the party for whom the
benefit of the provision exists, be in any way impaired.

     4.5 Copy of Warrant. A copy of this Warrant shall be filed among the
records of the Company.

     4.6 Notice. Any notice or other document required or permitted to be given
or delivered to the holder hereof shall be in writing and delivered at, or sent
by certified or registered mail to such holder at, the last address shown on the
books of the Company maintained at the Warrant Office for the registration of
this Warrant or at any more recent address of which the holder hereof shall have
notified the Company in writing. Any notice or other document required or
permitted to be given or delivered to the Company, other than such notice or
documents required to be delivered to the Warrant Office, shall be delivered at,
or sent by certified or registered mail to, the offices of the Company at 11999
Katy Freeway, Suite 560, Houston, Texas 77079, or such other address within the
continental United States of America as shall have been furnished by the Company
to the holder of this Warrant, with a copy to: Mark W. Coffin, Adams and Reese
LLP, 1221 McKinney, Suite 4400, Houston, Texas 77010.

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     4.7 Limitation of Liability: Not Stockholders. No provision of this Warrant
shall be construed as conferring upon the holder hereof the right to vole,
consent, receive dividends or receive notices (other than as herein expressly
provided) in respect of meetings of stockholders for the election of directors
of the Company or any other matter whatsoever as a stockholder of the Company.
No provision hereof, in the absence of affirmative action by the holder hereof
to purchase shares of Common Stock, and no mere enumeration herein of the rights
or privileges of the holder hereof, shall give rise to any liability of such
holder for the purchase price of any shares of Common Stock or as a stockholder
of the Company, whether such liability is asserted by the Company or by
creditors of the Company.

     4.8 Exchange. Loss. Destruction, etc, of Warrant. Upon receipt of evidence
satisfactory to the Company of the loss, theft, mutilation or destruction of
this Warrant, and in the case of any such loss, theft or destruction upon
delivery of a bond of indemnity or such other security in such form and amount
as shall be reasonably satisfactory to the Company, or in the event of such
mutilation upon surrender and cancellation of this Warrant, the Company will
make and deliver a new Warrant of like tenor, in lieu of such lost, stolen,
destroyed or mutilated Warrant. Any Warrant issued under the provisions of this
Section 4.8 in lieu of any Warrant alleged to be lost, destroyed or stolen, or
in lieu of any mutilated Warrant, shall constitute an original contractual
obligation on the part of the Company. This Warrant shall be promptly canceled
by the Company upon the surrender hereof in connection with any exchange or
replacement. The Company shall pay all taxes (other than securities transfer
taxes or income taxes) and art other expenses and charges payable in connection
with the preparation, execution and delivery of Warrants pursuant to this
Section 4.8.

     4.9 Headings. The Article and Section and other headings herein are for
convenience only and are not a part of this Warrant and shall not affect the
interpretation thereof.

     IN WITNESS WHEREOF, the Company has caused this Warrant to be signed in its
name.

                                    BPZ ENERGY, INC.

                                    By:  /s/  Manuel P. Zuniga Pflucker
                                         ---------------------------------------
                                    Name:    Manuel P. Zuniga Pflucker
                                    Title:   PresidentExhibit 10.8

                            STOCK PURCHASE AGREEMENT

          THIS STOCK PURCHASE AGREEMENT (the "Agreement") is entered into this
7th day ofApril, 2005 between Aegis Business Group, Inc., a Colorado corporation
( the "Company"), and Navidec Financial Services, Inc., a Colorado corporation
(the "Purchaser"). The Exhibits attached to, and referenced in, this Agreement
shall be deemed incorporated herein.

                                    RECITALS

          WHEREAS, the Company has authorized the sale and issuance of an
aggregate of 3,000,000 shares of its $.001 par value common stock (the "Common
Stock") and 2,000,000 shares of $.001 par value Series B Convertible Preferred
stock (the "Preferred Stock"); and

          WHEREAS, the Purchaser desires to purchase shares of Common Stock and
Preferred Stock, and the Company desires to issue and sell shares of Common
Stock and Preferred Stock to the Purchaser, on the terms and conditions set
forth herein.

          NOW, THEREFORE, in consideration of the foregoing recitals and the
mutual promises hereinafter set forth, the parties hereto agree as follows:

                                    ARTICLE 1

                         AGREEMENT TO SELL AND PURCHASE

     Subject to the terms and conditions hereof, at the Closing (as defined in
Section 2.1 below) the Company hereby agrees to issue and sell to the Purchaser,
and the Purchaser agrees to purchase from the Company, 3 million shares of
Common Stock (the "Shares") at a purchase price of $0.02 per share for a total
purchase price of $60,000 and 2 million shares of Preferred Stock at a purchase
price of $.28 per share for a total purchase price of $565,000. The Preferred
Stock shall have the designations and rights as set forth on Exhibit A attached
hereto. Collectively, the Common Stock and Preferred Stock sometimes shall be
designated as the "Shares."

                                    ARTICLE 2

                              CLOSING AND DELIVERY

     Section 2.1 Closing. The closing of the purchase and sale of the Shares
under this Agreement (the "Closing") shall take place at 10:00 a.m. local time
on the 7th day of April, 2005, at the offices of Ballard Spahr Andrews &
Ingersoll, LLP, 1225 17th Street, Suite 2300, Denver, Colorado 80202, or at such
other time or place as the Company and the Purchaser may mutually agree (such
date is hereinafter referred to as the "Closing Date").

     Section 2.2 Delivery. Subject to the terms and conditions hereof including
Article 4, Section 4, at the Closing the Company will deliver to the Purchaser
one or more certificates representing the Shares, against payment of the

<PAGE>

purchase price therefor by check or wire transfer made payable to the order of
the Company. It is understood that the certificate(s) evidencing the Shares may
bear one or all of the following legends:

          (1)  "THE SECURITIES REPRESENTED BY THIS STOCK CERTIFICATE HAVE NOT
               BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
               "SECURITIES ACT") OR APPLICABLE STATE SECURITIES LAWS ("STATE
               ACTS") AND SHALL NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED, OR
               OTHERWISE TRANSFERRED (WHETHER OR NOT FOR CONSIDERATION) BY THE
               HOLDER, EXCEPT UPON THE ISSUANCE TO THE COMPANY OF A FAVORABLE
               OPINION OF ITS COUNSEL OR THE SUBMISSION TO THE COMPANY OF SUCH
               OTHER EVIDENCE AS MAY BE SATISFACTORY TO COUNSEL FOR THE COMPANY,
               TO THE EFFECT THAT ANY SUCH TRANSFER SHALL NOT BE IN VIOLATION OF
               THE SECURITIES ACT AND THE STATE ACTS."

          (2)  Any legend imposed or required by applicable state law or the
               Company's Bylaws.

                                    ARTICLE 3

                         REPRESENTATIONS AND WARRANTIES

     Section 3.1 Representations and Warranties of the Company. Except as set
forth on the Schedule of Exceptions attached hereto as Schedule 3.1, the Company
hereby represents and warrants to the Purchaser, as of the Closing Date, as
follows:

            (1) Organization and Standing of the Company. The Company is a
corporation duly organized, validly existing and in good standing under the laws
of the State of Colorado. It has all requisite corporate power and authority to
carry on its business as now being conducted, to enter into this Agreement and
to carry out and perform the terms and provisions of this Agreement. The Company
is duly qualified to do business and is in good standing in each jurisdiction in
which the failure to be so qualified would have a material adverse effect on the
condition (financial or otherwise), business, net worth, assets (including
intangible assets), properties or operations of the Company. The Company has no
direct or indirect interest, either by way of stock ownership or otherwise, in
any other firm, corporation, association, or business.

            (2) Capitalization and Indebtedness for Borrowed Moneys.

                (a) The Company is duly and lawfully authorized by its Articles
to issue (i) 10,000,000 shares of $.001 par value Common Stock, of which at
closing only 325,018 shares will be issued and outstanding; and (ii) 10,000,000
shares of preferred stock, of which 375,000 shares designated as Series A
Preferred shall be converted to the common stock of Purchaser and all of the
preferred shares shall be cancelled resulting in there being no preferred shares
issued and outstanding. Additionally, 2 million shares of Preferred shall be
designated as Series B Convertible Preferred as set forth on Exhibit A. The

                                       2

<PAGE>

Company has no treasury stock and no other authorized series or class of stock.
All the outstanding shares of Common Stock have been duly authorized and validly
issued to the persons set forth on Exhibit B attached hereto and are fully paid
and nonassessable and free of preemptive rights. All Shares to be issued to the
Purchaser pursuant to this Agreement shall be duly authorized, validly issued,
fully paid, nonassessable, and issued in compliance with state and federal
securities laws.

                (b) Except as set forth on Exhibit C, there are no outstanding
subscriptions, options, warrants, calls, contracts, demands, commitments,
convertible securities, or other agreements or arrangements of any character or
nature whatever under which the Company is or may be obligated to issue or
purchase shares of its capital stock.

                (c) Except with respect to the Note due to Purchaser in the
amount of $85,000 the Company is not presently liable on account of any
indebtedness for borrowed moneys.

            (3) The Company's Authority. The execution, delivery, and
performance of this Agreement shall have been duly authorized by all requisite
corporate action. This Agreement constitutes a valid and binding obligation of
the Company enforceable in accordance with its terms (except as limited by
bankruptcy, insolvency, or other laws affecting the enforcement of creditors'
rights). The execution, delivery and performance of this Agreement will not
conflict with any provision of the Articles, Bylaws, minutes or share
certificates of the Company, or of any contract to which the Company is a party
or otherwise bound.

            (4) Litigation. There are no legal actions, suits, arbitrations, or
other legal or administrative proceedings pending or threatened against the
Company which would affect it, its properties, assets, or business. The Company
is not aware of any facts which, to its knowledge, might result in any action,
suit, arbitration, or other proceeding which, in turn, might result in a
material adverse change in the business or condition (financial or otherwise),
properties or assets of the Company. The Company is not in default with respect
to any judgment, order, or decree of any court, government agency or
instrumentality.

            (5) Compliance With the Law and Other Instruments. To the best of
the Company's knowledge, the business operations of the Company have been and
are being conducted in accordance with all applicable laws, rules, and
regulations of all authorities. The Company is not in violation of, or in
default under, any term or provision of the Articles or Bylaws, or of any lien,
mortgage, lease, agreement, instrument, order, judgment, or decree, or subject
to any restriction, contained in any of the foregoing, of any kind or character
which materially adversely affects in any way the business, properties, assets,
or prospects of the Company, or which would prohibit the Company from entering
into this Agreement or prevent consummation of the issuance of securities
contemplated by this Agreement.

            (6) Title to Properties and Assets. The Company has good and
marketable title to all its properties and assets, including without limitation,
the intellectual property right and trade secretes and that property used or
located on property controlled by the Company in its business (except assets
sold in the ordinary course of business), subject to no mortgage, pledge, lien,
charge, security interest, encumbrance, or restriction except those which do not
materially adversely affect the use thereof.

                                       3

<PAGE>

            (7) Contracts and Other Obligations. The Company is not a party to
or otherwise bound by, any written or oral:

                (a) contract or agreement not made in the ordinary course of
business;

                (b) contract with any labor union;

                (c) bonus, pension, profit-sharing, retirement, share purchase,
stock option, hospitalization, group insurance, or similar plan providing
employee benefits;

                (d) advertising contract or contract for public relations
services;

                (e) any contract, agreement, lease, document, or other
arrangement with which the Company is not in compliance.

            (8) Records. The books of account, minute books, stock certificate
books, and stock transfer ledgers of the Company are complete and correct, and
there have been no transactions involving the business of the Company which
properly should have been set forth in said respective books, other than those
set forth therein.

            (9) Brokers or Finders. All negotiations on the part of the Company
relative to this Agreement and the transactions contemplated hereby have been
carried on by the Company without the intervention of any person or as the
result of any act of the Company in such manner as to give rise to any valid
claim for a brokerage commission, finder's fee, or other like payment.

            (10) Taxes. The Company has duly filed all federal, state, county
and local income, franchise, excise, real and personal property and other tax
returns and reports (including, but not limited to, those relating to social
security, withholding, unemployment insurance, and occupation (sales) and use
taxes) required to have been filed by the Company up to the date hereof. All of
the foregoing returns are true and correct in all material respects and the
Company has paid all taxes, interest and penalties shown on such returns or
reports as being due. The Company has no liability for any taxes, interest or
penalties of any nature whatsoever, except for those taxes which may have arisen
up to the Closing Date in the ordinary course of business and are properly
accrued on the books of the Company as of the Closing Date.

            (11) Environmental and Safety Laws. To its knowledge, the Company is
not in violation of any applicable statute, law or regulation relating to the
environment or occupational health and safety, and no material expenditures are
or will be required in order to comply with any such existing statute, law or
regulation.

     Section 3.2 Representations and Warranties of the Purchaser. The Purchaser
represents and warrants to the Company, as of the Closing Date, as follows:

            (1) Purchase Entirely for Own Account. This Agreement is made with
the Purchaser in reliance upon the Purchaser's representation to the Company,
which by the Purchaser's execution of this Agreement confirms, that the Shares
to be received by the Purchaser will be acquired for investment for the
Purchaser's own account, not as a nominee or agent, and not with a view to the

                                       4

<PAGE>

resale or distribution of any part thereof, and that the Purchaser has no
present intention of selling, granting any participation in, or otherwise
distributing the same. By executing this Agreement, the Purchaser further
represents that it does not have any contract, undertaking, agreement or
arrangement with any person to sell, transfer or grant participations to such
person or to any third person, with respect to the Shares.

            (2) Disclosure of Information. The Purchaser believes it has
received all the information he considers necessary or appropriate for deciding
whether to purchase the Shares. The Purchaser further represents that it has had
an opportunity to ask questions and receive answers from the Company regarding
the terms and conditions of the offering of the Shares and the business,
properties, prospects and financial condition of the Company and to obtain
additional information (to the extent the Company possessed such information or
could acquire it without unreasonable effort or expense) and/or conduct its own
independent investigation necessary to verify the accuracy of any information
furnished to the Purchaser or to which the Purchaser had access. The foregoing,
however, does not limit or modify the representations and warranties of the
Company in Section 3.1 of this Agreement or the right of the Purchaser to rely
thereon.

            (3) Investment Experience. The Purchaser is experienced in
evaluating and investing in private placement transactions in securities of
companies in the development stage and acknowledges that he is able to fend for
itself, can bear the economic risk of its investment, and has such knowledge and
experience in financial or business matters that it is capable of evaluating the
merits and risks of the investment in the Shares.

            (4) Restricted Securities. The Purchaser understands that the Shares
are being sold pursuant to an exemption from registration under Section 4(2) of
the Securities Act of 1933, as amended (the "Securities Act"). The Purchaser
also understands that the Shares may not be sold, transferred or otherwise
disposed of by him without registration under the Securities Act or an exemption
therefrom, and that in the absence of an effective registration statement
covering the Shares or an available exemption from registration under the
Securities Act, the Shares must be held indefinitely. In particular, the
Purchaser is aware that the Shares may not be sold pursuant to Rule 144
promulgated under the Securities Act unless all of the conditions of that rule
are met. Among the conditions for use of Rule 144 may be the availability of
current information to the public about the Company. Such information is not now
available and the Company has no present plans to make such information
available. In this connection, the Purchaser represents that it is familiar with
Rule 144, as presently in effect, and understands the resale limitations imposed
thereby and by the Securities Act.

            (5) Transfer Restrictions. Without in any way limiting the
representations set forth above, the Purchaser further agrees not to make any
disposition of all or any portion of the Shares unless and until the transferee
has agreed in writing for the benefit of the Company to be bound by this Section
3.2, provided and to the extent this Section and such agreement are then
applicable.

            (6) Illiquid Investment. The Purchaser understands that the Company
has no present intention of registering the Shares. The Purchaser further
understands that no market exists for the Shares, and there can be no assurance

                                       5

<PAGE>

that a market will develop for the Shares. Accordingly, the Shares represent a
very illiquid investment with no assurance of an available exit strategy for the
Purchaser.

            (7) Residence. The Purchaser resides at the address listed below his
signature to this Agreement.

            (8) Brokers or Finders. All negotiations on the part of the
Purchaser relative to this Agreement and the transactions contemplated hereby
have been carried on by the Purchaser without the intervention of any person or
as the result of any act of the Purchaser in such manner as to give rise to any
valid claim for a brokerage commission, finder's fee, or other like payment.

                                    ARTICLE 4

                              CONDITIONS TO CLOSING

     Except as may be waived in writing by the parties, all of the obligations
of the parties under this Agreement are subject to the fulfillment, prior to or
at the Closing on the Closing Date, of each of the following conditions:

            (1) Representations and Warranties True. The representations and
warranties of the Company and the Purchaser set forth in Sections 3.1 and 3.2,
respectively, shall be true and correct in all material respects as of the
Closing Date, subject to any changes contemplated by this Agreement.

            (2) Directors' Approval. Consummation of the transactions
contemplated herein shall have been approved by the Board of Directors of the
Company at a meeting of the Board of Directors to be held for the purpose of
obtaining such approval or by unanimous written consent.

            (3) Third-Party Consents. On or before the Closing Date, all
material consents or approvals by any third party, if any, which are required to
be obtained by the Company in connection with the execution, delivery or
performance of this Agreement or the consummation of the transactions
contemplated herein shall have been obtained.

            (4) Continuing Obligation to Finance the Company. While at closing,
the Company shall issue in the name of the Purchaser 3 million shares of Common
Stock and 2 million shares of Preferred Stock, 72% of the shares of both the
Common and Preferred Stock certificates issued shall be subject to cancellation
should the Purchaser not pay the full purchase price for all of the Shares.
Certificates representing 840,000 shares of Common and 560,000 shares of
Preferred shall be delivered at Closing based on the Closing payment of $175,000
and the balance of the Certificates shall be held by the Aegis board pending
receipt of payment and such shares shall be delivered to the Purchaser as its
funding commitment is paid. Under no circumstances shall the Closing occur until
at least $175,000 of the $625,000 commitment has been completed which amount
shall be offset by any loans pro-offered to the Company prior to the closing
date, which loans shall be deemed paid-in-full at closing. Should the full
amount of the financing not be paid at or prior to Closing, any funds not paid

                                       6

<PAGE>

shall be due and payable in monthly installments so that on or before the 90th
day following Closing the full $625,000 financing shall be concluded. Pending
the final payment as required by this subparagraph 4, each time funds are
transferred from the Purchaser to the Company, the appropriate number of the
purchased Share certificates shall be released by the Board directly to the
Purchaser as being fully paid and nonassessable. To the extent full payment is
not received by the 90th day following Closing, the Common and Preferred shares
not paid for on a pro rata basis shall be cancelled.

            (5) Exchange of Series A Preferred. The 8 holders of all of the
issued Series A Preferred shares which in turn constitute all of the issued and
outstanding preferred stock of the Company shall have entered into the form of
Share Exchange Agreement attached hereto as Exhibit E whereby they have exchange
all of the Series A Preferred shares for shares of the $.001 par value common
stock of the Purchaser.

            (6) Cancellation of Outstanding Shares, Options and Warrants. In
exchange for entering into the option agreements in the form attached as Exhibit
D, all of the existing common shareholders of the Company, except those set
forth in Exhibit C, shall have returned all of their common shares, options and
warrants to the company for cancellation so that at the time of closing only a
total of 325,018 shares of common stock, no options (other than as set forth on
Exhibit C) and no warrants shall be issued and outstanding prior to the
completion of this Stock Purchase Agreement.

            (7) Employment Agreements. J. Ralph Armijo, George Schad, David Bush
and Rob Johnson shall have executed employment agreements essentially in the
form attached hereto as Exhibit G which employment agreements shall have been
approved by the Board of Directors of the Purchaser.

            (8) New Board of Directors. At or immediately before closing, the
directors of the Company shall appoint a board consisting of J. Ralph Armijo and
Robert Grizzle. The members of the Company's Board of Directors shall thereafter
resign. The Company agrees to maintain the indemnification rights as they apply
to the outgoing Board of Directors in full force and effect based on the
corporate charter of the Company and the Business Corporation Act of the State
of Colorado during any period legally required.

            (9) Compliance with Agreements. The Company shall have performed and
complied with all agreements or conditions required by this Agreement to be
performed and complied with by it prior to or on the Closing Date.

            (10) Provision of Financial Systems and Operations. As a material
incentive for the execution of this Agreement, the parties have agreed that the
Purchaser shall provide material financial oversight and treasury functions to
the Company including the appointment of the Purchaser's CFO, Robert Grizzle, as
the Chief Financial Officer of the Company. Additionally, management oversight
for the Company shall be provided by a management oversight group consisting of
the Company's CEO, CFO, George Schad, Rob Johnson, and David Bush. This group
shall have full responsibility for tactical and strategic direction of the
Company and report to the Purchaser's Board of Directors.

                                       7

<PAGE>

            (11) No Contracts Terminated. The Company shall not have had any
contract or contracts, which in the aggregate would materially affect its
business, terminated prior to the Closing Date.

            (12) No Damage to Assets. At the Closing Date the machinery,
equipment, inventory, or other tangible property of the Company shall not have
suffered loss or damage on account of fire, flood, accident, act of war, civil
commotion, or any other cause or event beyond the reasonable power and control
of the Company (whether or not similar to the foregoing), to an extent which
substantially affects the value of the properties and assets of the Company.
Loss or damage shall be considered to affect substantially the value of said
properties and assets within the meaning of this subsection if the book value of
such properties and assets so lost or damaged exceeds 5% in book value of all
such tangible properties and assets.

            (13) Certificate of Officer. The Company shall have delivered to the
Purchaser a certificate dated the Closing Date, executed in its corporate name
by, and verified by, the oath of its President certifying to the fulfillment of
the conditions specified in this Article 4.

                                    ARTICLE 5

             NATURE AND SURVIVAL OF REPRESENTATIONS AND WARRANTIES:

     All statements of fact contained herein, or in any certificate or schedule
delivered by or on behalf of the Company or the Purchaser pursuant to the terms
hereof, shall be deemed representations and warranties made by the Company and
the Purchaser, respectively, to each other under this Agreement. The
representations and warranties of the Company and the Purchaser shall survive
the Closing for a period of one year.

                                    ARTICLE 6

                                  MISCELLANEOUS

     Section 6.1 Amendment. This Agreement may be amended in any manner as may
be determined in the judgment of the Board of Directors of the Company and the
Purchaser to be necessary, desirable, or expedient in order to clarify the
intention of the parties hereto or to effect or facilitate the purpose and
intent of this Agreement, subject to the provision herein that any amendment
shall be ineffective unless in writing and executed by the parties hereto.

     Section 6.2 Counterparts and Facsimile Signatures. In order to facilitate
the execution of this Agreement, it may be executed in any number of
counterparts and signature pages may be delivered by facsimile.

     Section 6.3 Waiver of Conditions. Either party may waive any condition
precedent, term or condition of this Agreement but such a waiver shall be
ineffective unless in writing and executed by an authorized representative of
both parties hereto.

     Section 6.4 Assignment. Neither this Agreement nor any right created hereby
shall be assignable by the Company or the Purchaser without the prior written
consent of the other party. Nothing in this Agreement, express or implied, is

                                       8

<PAGE>

intended to confer upon any person, other than the parties hereby and their
respective successors, assigns, heirs, executors, administrators, or personal
representatives, any rights or remedies under or by reason of this Agreement.

     Section 6.5 Entire Agreement. This Agreement, the Exhibits hereto, and the
certificates delivered pursuant hereby constitute the full and entire
understanding and agreement between the parties with regard to the subject
hereof and no party shall be liable or bound to any other in any manner by any
representations, warranties, covenants or agreements except as specifically set
forth herein. All prior agreements and understandings are superseded by this
Agreement and the Exhibits thereto.

     Section 6.6 Governing Law. This Agreement shall be governed by the laws of
the State of Colorado, and that the Business Corporation Law of Colorado shall
govern as to matters of corporate law pertaining to the Company.

     Section 6.7 Severability. In case any provision of this Agreement shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

     Section 6.8 Notices. All notices and other communications required or
permitted under this Agreement must be in writing and may be given by personal
delivery or U.S. mail, or confirmed facsimile. If given by mail, such notice
must be sent by registered or certified mail, postage prepaid, mailed to the
party at the respective address set forth below, and shall be effective only if
and when received by the party to be notified. For purposes of notice, the
addresses of the parties shall, until changed as hereinafter provided, be as
follows:

            (1) If to the Company:

                Aegis Business Group, Inc.
                6501 S. Fiddlers Green Circle
                Suite 110
                Greenwood Village, CO 80111

                Facsimile No.:  (303) 663-0607
                Phone No. to Confirm Fax: (303) 907-6519

            (2) If to the Purchaser:

                Navidec Financial Services, Inc.
                6399 S. Fiddler's Green Circle
                Greenwood Village, CO 80111
                Facsimile No.: (303) 222-1000
                Phone No. to Confirm Fax: (303) 222-1001

                                       9
<PAGE>

            With a copy to:

            Ballard Spahr Andrews & Ingersoll, LLP
            1225 17th Street, Suite 2300
            Denver, CO 80202
            Attn: Roger V. Davidson, Esq.
            Facsimile No.: (303) 382-4607
            Phone No. to Confirm Fax: (303) 299-7307

     or at such other address or facsimile number as any party may have advised
the other in writing.

     Section 6.9 Attorney Fees. If any action at law or in equity, including an
action for declaratory relief, is brought to enforce or interpret the provisions
of this Agreement, the prevailing party shall be entitled to recover reasonable
attorney fees from the other party or parties, which fees shall be in addition
to any other relief which may be awarded.

     Section 6.10 Indemnification by the Company. The Company agrees to
indemnify and hold the Purchaser harmless against any loss, liability, damage or
expense (including reasonable attorney fees and costs) which the Purchaser may
suffer, sustain or become subject to as a result of or in connection with the
breach by the Company of any representation, warranty, covenant or agreements of
the Company contained in this Agreement

     Section 6.11 Indemnification by the Purchaser. The Purchaser agrees to
indemnify and hold the Company harmless against any loss, liability, damage or
expense (including reasonable attorney fees and costs) which the Company may
suffer, sustain or become subject to as a result of or in connection with the
breach by the Purchaser of any representation, warranty, covenant or agreements
of the Purchaser contained in this Agreement.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       10
<PAGE>

     IN WITNESS WHEREOF, this Common Stock Purchase Agreement is hereby duly
executed by each party hereto as of the date first written above.

COMPANY:

Aegis Business Group, Inc., a Colorado corporation

By:  /s/  J. Ralph Armijo
   -----------------------------------------------
     J. Ralph Armijo, CEO and President

PURCHASER:

Navidec Financial Services, Inc., a Colorado corporation

By: /s/  Robert D. Grizzle
   ------------------------------------------------
     Robert D. Grizzle, CFO

                                       11

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