I have now gathered up all of the many pictures of Pe at the 82nd Annual Academy Awards. Including images from the show, backstage and red carpet. Cruz didn’t attend any after party this year but there is still a considerable amount of pictures for your viewing pleasure.

As the current past Best Supporting Actress winner (Penélope won of course last year for Vicky Cristina Barcelona) she was the presenter for Best Supporting Actor at the 2010 ceremony. Christoph Waltz took home the award for his performance in Tarantino’s Inglourious Basterds. A clip of this presentation, as well as red carpet vids (and captures) will be coming tomorrow.

Penélope Cruz wore a gorgeous couture duchess satin pleated gown by Donna Karan, Chopard jewels and carried a Haute Couture Folies Clutch with a black strass Swarovski buckle and black stripped ostrich feather work by Roger Vivier. If any of you would like to learn how to style your hair like Pe’s in this look, read a tutorial at BellaSugar.

We’re bringing you live updates of the 82nd Annual Academy Awards, news, pictures and more! Follow this post for the updates and of course our Twitter @penelopecruzorg for all the instant second breaking live updates!

Update #1) Penélope Cruz was just spotted on the red carpet wearing a red dress and an up-do! She was briefly shown on E!’s Live Coverage.

Update #2) Penélope Cruz stood next to her Supporting Actress nominees for the official red carpet on ABC before the big show, where she was gracious and even said even though she’s been there multiple times, she didn’t feel like a vet, that it felt like the first time and when she didn’t speak any English. She also said she is “so happy and proud to be in company of these amazing actresses.”

Update #3) The first (tagged) photo of Pe is available on our twitter, here!

Update #4) Cruz just presented Best Actor in a Supporting Role to Christoph Waltz for Inglourious Basterds. He opened his speech with “Penélope Cruz and an Oscar equals a Bingo.”

Update #5) Penélope is wearing a ravishing red Donna Karan couture duchess satin pleated gown, Chopard jewels and soft updo.

Update #6) The first pictures of our girl are being added to the gallery as we speak. Keep checking back for lots more coverage!

Update #7) Penélope shown in the audience.

Update #8) Not surprisingly, Mo’Nique won Best Actress in a Supporting Role. Pe was shown holding hands in the auidence with Javier Bardem.

Update #9) Penélope is carrying an Haute Couture Folies Clutch with a black strass Swarovski buckle and black stripped ostrich feather work by Roger Vivier.

Update #10) Cruz shown briefly in the audience during the Best Score dance performances.

Update #11) It’s a wrap! Pe didn’t attend any after parties.

Big thanks to Jess of our sister site Kate Hudson Heaven for alerting us to the 20/20 video being online. This is all that aired I believe, and Pe’s segment comes in about 05:21.

2002 Oscar winner Halle Berry (Actress in a Leading Role, Monster’s Ball) will interview last year’s Supporting Actress winner, Penélope Cruz, (Vicky Cristina Barcelona), who this year is a Supporting Actress nominee for her role in Nine.

It’s for The Oprah Winfrey Oscar Special, which airs tonight (March 3, 2010) at 10-11PM ET on ABC.

I hope you all got a chance to see the 20/20 special, from last night, there was some adorable footage of Pe shown. I haven’t been able to find it online yet though, but fingers crossed someone will upload a video somewhere. If so, let me know!

Penélope Cruz will be featured in tonight’s edition of 20/20 which is an Oscar special about stars before they were famous. They will show rare and never before seen videos and photos of the 2010 Academy Award nominees as well as interviews. Sorry for such short notice, I only just saw it on the TV now. Hopefully it will be available online afterward though.

Although this could be determined just a rumor for now since only one outlet has reported on it, but I’ve actually wondered which big film Penélope would be doing next myself. The Lars von Trier’s (Antichrist) psychological drama disaster film, Melancholia or Pirates of the Caribbean: On Stranger Tides? Both films seemed like they might tie up Pe’s schedule for many months (not to mention the promotion duties something like Pirates has). Also because she’s stated she was going to be very choosy with her projects and not work back to back so much anymore. Both films were announced within days of each other so it seemed likely one would coincidence with the other. I did a bit of research and here is what I found:

It seems, according to El Pais, Penélope has renounced Melancholia in order to star in the fourth part of the Pirates of the Caribbean movie saga. The site notes that Cruz’s character in Melancholia (which was written specifically for her) requires no special physical effort, but her Pirates character would of course require special skills, which would mean months of training, especially in fencing. Producer Buenavista locks down it’s cast especially for this.

Discussion of Von Trier possibly moving its project to filming September occurred but a scheduled appointment with the Cannes Film Festival in 2011, which will premiere Melancholia, and shorten the post-production digital effects overruled it. The final decision regarding the Von Trier movie: filming in June in Sweden, with a budget of around four million euros and the French coast in May 2011. Without Cruz attached to headline. The role is to be partly re-written. No casting announcements have been made as of this report.

Although Pirates 4 was announced some months ago with only Johnny Depp to star it was just recently reported Rob Marshall, Cruz’s Nine director would helm the movie (taking over the Disney franchise from Gore Verbinski.) Pe made several quotes that would definitely love to do another musical or work with Rob again which doesn’t surprise that she was eager to work with him once again so soon.

Held yesterday in the capital of Spain was the 2010 Goya Awards (Spanish equivalent to the Oscars). Penélope Cruz was a nominee for her work in Broken Embraces, however she lost to Lola Duenas for her role in Me, Too. Cruz also served as a presenter at the gala. Javier Bardem was seated next to her in the audience.

Penélope looked exquisite in a vintage Gianni Versace ivory column gown with vertical signature Gianni Versace zippers in the back of the dress. It’s nice to see something other than black which she’s been choosing a lot here lately.

I have updated the gallery with over x128 pictures from the festivities. Watch a video of her on the red carpet after the break.

Penélope Cruz is in negotiations to join Johnny Depp in the Rob Marshall-directed Pirates of the Caribbean: On Stranger Tides, reports Heat Vision.

Scheduled for a release on May 20, 2011, the fourth installment revolves around the Fountain of Youth. Depp is reprising the role of Captain Jack Sparrow and Cruz’s character is expected to be “Sparrow’s foil and equal in many ways.”

The Jerry Bruckheimer-produced film was written by Terry Rossio and Ted Elliot. Shooting will take place in Hawaii this summer.

Cruz starred in Marshall’s last film, Nine.

To be honest given the source I’m trying not to get my hopes up about this one, but I think it would be a lot of fun and totally awesome to see Cruz working with one of my favorite actors, Johnny Depp again! Especially if Pe played a sassy strong female character against Captain Jack!

Update Feb. 11: Variety has confirmed that Pe is in talks for the 4th Pirates!

Various sources like that of Bloody-Disgusting.com are reporting that Penélope Cruz could be toplining Danish auteur Lars von Trier’s (Antichrist) psychological drama-cum-disaster film, Melancholia.

Budgeted at around E5 million ($7 million), English-lingo film is set for a European 2010 shoot. The title refers to Planet Melancholia, an enormous planet illustrated on the press release that looms threateningly close to Earth. “No more happy endings!” commented Lars von Trier, who will direct from his own screenplay. “As a disaster movie, Melancholia will use some special effects, but nothing compared to Hollywood,” exclaims Zentropa Entertainment co-founder Peter Aalbaek Jensen.

Personally, I think it sounds like a really cool idea given the director. I know Penélope is now being very choosy with her projects and this seems like it could be very time consuming, but with Lars von Trier claiming to make it ‘anti-hollywood’, sounds promising! Only time will tell if this becomes a sure thing. I’ll keep you posted.