Convert BMP to PNG on right-click in Windows 7
Solution 1:
Getting something with one click is always tough, but this might be what you're looking for.
XNView
Use it in conjunction with the shell extension, which offers a host of image manipulation options on right click.
Addictive Tips: XNView shell extension
Solution 2:
Previously called "Right Click Image Converter", ImageBadger is an image converter which has the capability to convert multiple images with right-click.
The program is a shareware. There's a try & buy version on the official site.
Solution 3:
GIMP has a batch mode: see http://www.gimp.org/tutorials/Basic_Batch/ if GIMP is too heavy-weight for this application, there are probably other smaller packages that will do this which you can substitute.
You can create your own context item using "send to" and a batch file.
see: http://www.howtogeek.com/howto/windows-vista/customize-the-windows-vista-send-to-menu/
command line parameters are %0-%9 (0 is the program, 1-9 are the parameters)
With some experimentation, you can probably roll your own. I have never attempted to send a list of files with this method.