EXHIBIT
      10.81

    


    
      	
              STATE
                OF TEXAS

            	
              §

            
	 	
              §

            
	
              COUNTY
                OF GALVESTON

            	
              §

            


    

     

    NOTICE
      OF FORECLOSURE SALE

    GALVESTON
      COUNTY, TEXAS

     

    Date:
       June
      5th,
      2008

    


    Deed
      of Trust, Mortgage, Assignment, Security Agreement, Fixture Filing and Financing
      Statement (“Deed
      of Trust”):

     

    
      	
              Dated:

            	
              May
                11, 2007

            
	 	 
	
              Grantor:

            	
              Tekoil
                and Gas Gulf Coast, LLC, a Texas limited liability
                company

            
	 	 
	
              Trustee:

            	
              John
                Howie

            
	 	 
	
              Lender:

            	
              J.
                Aron & Company

            
	 	 
	
              Recorded
                in:

            	
              The
                office of the County Clerk of Galveston County, Texas on May 14,
                2003 as
                Document #2007031217 of the Official Public Records.

            
	 	 
	
              Secures:

            	
              Promissory
                Note (“Note”)
                dated May 11, 2007, in the original principal amount of $50,000,000.00,
                executed by Grantor and payable to the order of Lender, and all other
                indebtedness of Grantor to Lender as described in the Deed of
                Trust

            
	 	 
	
              Property:

            	
              The
                real property, improvements and personal property described in the
                attached Exhibit
                A,
                that is attached hereto and made a part hereof.

            
	 	 
	
              Trustee’s

            	
              Haynes
                and Boone, LLP

            
	
              Address:

            	
              One
                Houston Center

            
	 	
              1221
                McKinney, Suite 2100

            
	 	
              Houston,
                Texas 77010

            


    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Foreclosure
      Sale:
      

    


    
      	
              Date:

            	
              Tuesday,
                July 1, 2008

            
	 	 
	
              Time:

            	
              The
                sale of the Property (“Foreclosure
                Sale”)
                will take place between the hours of 10:00 a.m. and 4:00 p.m. local
                time;
                the earliest time at which the Foreclosure Sale will begin is 10:00
                a.m.

            
	 	 
	
              Place:

            	
              Galveston
                County Courthouse in Galveston, Texas, in the area designated by
                the
                County Commissioners’ Court

            
	 	 
	
              Terms
                of Sale:

            	
              The
                Foreclosure Sale will be conducted as a public auction and the Property
                will be sold to the highest bidder for cash, except that Lender's
                bid may
                be by credit against the indebtedness secured by the lien of the
                Deed of
                Trust.

            


    

    


    Default
      has occurred in the payment of the Note. Because of that default, Lender, the
      owner and holder of the Note, has requested Trustee to sell the Property.


    


    The
      Deed
      of Trust may encumber both real and personal property. Formal notice is hereby
      given of Lender's election to proceed against and sell both the real property
      and any personal property described in the Deed of Trust in accordance with
      the
      Lender's rights and remedies under the Deed of Trust and the Texas Business
      and
      Commerce Code.

    


    Therefore,
      notice is given that on and at the Date, Time and Place of sale described above,
      Trustee will sell the Property by public sale to the highest bidder for cash
      in
      accordance with the Deed of Trust.

     

    
      	
              /s/
                John Howie

            
	
              John
                Howie

            
	
              Trustee

            


    

     

    
      
         

      

      
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              THE
                STATE OF TEXAS

            	
              §

            
	 	
              §

            
	
              COUNTY
                OF HARRIS

            	
              §

            


    

    


    This
      instrument was acknowledged before me on this 5th
      day of
      June, 2008, by John Howie, Trustee.

    


    
      	
              (SEAL)

            	
                 
                /s/ Maureen E. Meyers

            
	 	
              Notary
                Public, State of Texas

            


    

    


    MAUREEN
      E. MEYERS

    Notary
      Public, State of Texas

    My
      Commission Expires

    November
      15, 2009    

    


    Exhibit
      A: Property Description

    


    AFTER
      RECORDING, RETURN TO:

    Haynes
      and Boone, LLP

    1221
      McKinney, Suite 2100

    One
      Houston Center

    Houston,
      Texas 77010

    Attn:
      Randy Browne

     

    
      
         

      

      
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