Amendment Eleven to the Assignment of License Agreement



 Exhibit 10.18 
  
 ELEVENTH AMENDMENT TO THE ASSIGNMENT OF LICENSE AGREEMENT 
  
 THIS ELEVENTH AMENDMENT TO THE ASSIGNMENT OF LICENSE AGREEMENT (“Eleventh
Amendment”) is entered into September 28, 2005 (“Effective Date”) by and between Blast Energy Services, Inc. (formerly known as Verdisys, Inc.), a California corporation (“Blast”) and Maxim TEP, Inc., a Texas
Corporation (“Maxim”). 
  
 WHEREAS on March 8, 2005, Blast and
Maxim entered into an assignment of license agreement requiring payments to be made in accordance with a defined payment schedule; 
  
 WHEREAS Maxim has failed to pay Three Hundred and Sixty Five Thousand ($365,000) Dollars of the total balance due on June 3, 2005, has failed to cure the default
within the defined 45 day cure period and has failed to pay the amount by the extension date of September 12, 2005; 
  
 WHEREAS Maxim now recognizes it is in default in its payments on the assignment of the license and desires to cure the default; 
  
 WHEREAS Maxim has requested to cure the default on its payments on the Nine Hundred and
Fifteen Thousand ($915,000) Dollars in principal payments it owes by requesting an extended period to pay Nine Hundred and Fifteen Thousand ($915,000) Dollars of the additional consideration due; 
  
 THEREFORE, in view of the good and valuable consideration
stated below, Blast and Maxim agree as follows: 
  

	1.	Extension Period. 

  
 1.1 Blast agrees to consider the default cured and extend the period that Maxim has to pay Nine Hundred and Fifteen Thousand ($915,000) Dollars of the
balance due to October 7, 2005. Failure to pay the Nine Hundred and Fifteen Thousand ($915,000) Dollars on or before October 7, 2005 will result in the lapse of the assignment and forfeiture of all prior consideration. 
  

	2.	Consideration. 

  
 2.1 In consideration of this Extension, Maxim shall pay a delinquency fee of Twenty Five Thousand ($25,000) Dollars on or before September 28, 2005,
and a further Twenty Five Thousand ($25,000) Dollars on or before September 30, 2005. 
  
 All other terms of the Assignment of License Agreement and the First, Second, Third, Fourth, Fifth, Sixth, Seventh, Ninth and Tenth Amendment are unchanged and remain in full force and effect. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first above written 
  

					
	MAXIM TEP, INC.	 	 	 	 
			
	/s/    ROBERT SEPOS, CFO        	 	 	 	 9/28/2005

	Robert Sepos, Chief Financial Officer	 	 	 	 Date

			
	BLAST ENERGY SERVICES, INC.	 	 	 	 
			
	/s/    JOHN O’KEEFE        	 	 	 	 9/29/2005

	John O’Keefe, EVP & Co-CEO	 	 	 	 Date











 October 13, 2005 
  
 Dan Williams 
 President & CEO 
 Maxim TEP 
 9400 Grogan’s Mill Road, Suite 205 
 The Woodlands, TX 77380 
  
 Dear Dan, 
  
 Assignment of
License Agreement signed March 8, 2005 
 Demand for Payment of Outstanding License Fees 
  
 As you are aware, Maxim TEP is delinquent under the Agreement for a current payment of
$915,000. Our Company has attempted to work with you by providing eleven extensions for the payment of the outstanding amount, the last of which terminated on October 7, 2005. Unfortunately, due to circumstances beyond our control, we are no
longer in a position to provide additional extensions. Therefore this letter shall serve as formal notice that we demand: 
  

	 	1.	The payment of a minimum $200,000 by October 19, 2005. 

  

	 	2.	A second payment of $300,000 by October 31, 2005. 

  

	 	3.	A third payment of the balance of $415,000 by November 30, 2005 to maintain your Company in good standing. 

  
 If Maxim TEP is unable to meet this demand for payment the assignment of the license is
revoked, all prior consideration paid is forfeit, and we will be forced to seek alternative buyers for the license. 
  
 We appreciate all the effort that you and Maxim TEP has extended to honor this agreement and we wish we could work with you further. However, we are now forced to demand
payment on the above terms as we have received an equivalent offer from another party. We look forward to a positive resolution to the outstanding balance. 
  

	
	 Sincerely Yours,

	
	  
	Andrew Wilson
	VP and GM - Satellite Division

  

	cc	Robert Sepos 

 John O’Keefe 









 October 18, 2005 
  
 Dan Williams 
 President & CEO 
 Maxim TEP 
 9400 Grogan’s Mill Road, Suite 205 
 The Woodlands, TX 77380 
  
 Dear Dan, 
  
 Assignment of
License Agreement signed March 8, 2005 
 Demand for Payment of Outstanding License Fees 
  
 We are in receipt of your payment of $200,000 in accordance with our demand letter of
October 13, 2005. As discussed this letter shall serve to amend the original demand letter as follows for the payment of the $715,000 still outstanding: 
  

	 	1.	Maxim will pay $300,000 on or before October 31, 2005. 

  

	 	2.	Maxim will pay $200,000 on or before November 30, 2005. 

  

	 	3.	Maxim will pay the balance of $215,000 on or before December 31, 2005 

  
 We look forward to the receipt of the additional funds to prevent any further default on the amounts owed. 
  

	
	 Sincerely Yours,

	
	  
	Andrew Wilson
	VP and GM - Satellite Division

  

	cc	Robert Sepos 

 John O’Keefe