Document:

Exhibit
      10.72

    TEKOIL
      & GAS CORPORATION

     

    SUBSCRIPTION
      AGREEMENT 

     

    THE
      COMMON STOCK AND CONVERTIBLE PROMISSORY NOTE DESCRIBED BELOW HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)
      OR UNDER THE PROVISIONS OF ANY APPLICABLE STATE SECURITIES LAWS. SUCH SECURITIES
      MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE
      TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
      SECURITIES ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
      REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE
      144
      UNDER SUCH ACT.

     

    1. Subscription.
      Subscriber (as identified on the signature page attached hereto) hereby
      subscribes for and agrees to be issued the Convertible Promissory Note of Tekoil
      & Gas Corporation, a Delaware corporation (the “Company”),
      a
      form of which is attached hereto as Exhibit A (the “Note”) in the amount
      described on the signature page hereto, and upon conversion of the Note in
      accordance with its terms, the shares of restricted Common Stock of the Company
      into which any portion or amount of the Note is so converted (the “Conversion
      Stock” and such Note and Conversion Stock are referred to together as
“Securities” and each is referred to separately as a “Security”) of Tekoil &
Gas Corporation, a Delaware corporation (the “Company”).

     

    2. Payment;
      Documents.
      

     

    (a) Subscriber
      agrees to tender to the Company the amounts described on the signature page
      attached hereto for the Note subscribed for herein by either (i) a check made
      payable to the Company or (ii) wire transfer to the Company’s bank account as
      specified by the Company.

     

    (b) The
      amounts due shall be due upon transmittal of the subscription documents to
      the
      Company. Subscriber acknowledges that the Company may request additional
      information in connection with the subscription.

     

    3. Approvals.
      Subscriber acknowledges and agrees that this subscription is subject to, and
      limited by, the appropriate consent and approvals by the Company’s Board of
      Directors and, if applicable, shareholders.

     

    4. Acceptance
      or Rejection of Subscription.
      Subscriber acknowledges and agrees that this subscription shall not be effective
      until accepted in writing by the Company, and that the Company reserves the
      right to reject this Subscription in whole or in part in its sole discretion.
      Subscriptions may be rejected for failure to conform to the requirements of
      the
      offering, insufficient documentation, oversubscription of the offering or for
      any such other reason as the Company may determine, in its sole discretion,
      to
      be in the best interests of the Company. In the event of rejection of this
      subscription Subscriber's funds, together with any earnings thereon, will
      promptly be returned to Subscriber without deduction and this Subscription
      Agreement shall have no further force or effect.

     

    5. Acceptance
      of Subscription.
      In the
      event Subscriber's subscription is accepted by the Company, Subscriber's
      Securities shall be issued as of the date specified by the Company at the time
      of acceptance.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    6. Subscriber's
      Representations and Warranties.
      Subscriber represents, warrants, acknowledges and agrees that: 

     

    (a) Subscriber
      is a resident of the state indicated on the signature page hereof, is legally
      competent to execute this Subscription Agreement, and:

     

    (i) if
      Subscriber is an individual, has his or her principal residence in such
      state;

     

    (ii) if
      Subscriber is a corporation, partnership, trust, limited liability company
      or
      other form of business organization, has its principal office in such state;
      or
 

     

    (iii) if
      Subscriber is a corporation, partnership, trust, limited liability company
      or
      other form of business organization, Subscriber has not been organized for
      the
      specific purpose of acquiring any of the Securities.

     

    (b) Subscriber
      has not been offered the Securities by any form of general solicitation or
      general advertising, including but not limited to any advertisement, article,
      notice or other communication published in any newspaper, magazine, or similar
      media or broadcast over television or radio, or any seminar or meeting whose
      attendees have been invited by any general solicitation or general advertising.
      

     

    (c) Subscriber
      has had access during the course of this transaction and prior to the issuance
      of any of the Securities to all information necessary to enable Subscriber
      to
      evaluate the merits and risks of a prospective investment in the Company
      (including, without limitation, the periodic and other reports filed by the
      Company with the U.S. Securities and Exchange Commission (the “SEC”) under the
      Securities Exchange Act of 1934, as amended (the “Exchange Act”)), and
      Subscriber has had the opportunity to ask questions of and receive answers
      from
      the officers and directors of the Company, or a person or persons acting on
      its
      behalf, concerning the terms and conditions of the offering and all questions
      raised by Subscriber have been answered to the full satisfaction of Subscriber.
      

     

    (d) There
      are
      substantial restrictions on the transferability of the Securities and,
      accordingly, Subscriber will need to bear the economic risk of the investment
      in
      the Securities for an indefinite period of time and will not be readily able
      to
      liquidate the investment in case of an emergency.

     

    (e) Subscriber
      understands that the Company has a limited financial or operating history,
      each
      of the Securities is a speculative investment which involves a high degree
      of
      financial risk, and there is no assurance of any economic, income or tax benefit
      from such investment. 

     

    (f) In
      making
      this investment, Subscriber is relying solely upon the advice of Subscriber's
      personal tax advisors, and not the Company nor its advisers and counsel, with
      respect to the tax aspects of an investment in the Securities.

     

    (g) If
      Subscriber is a corporation, partnership, trust, limited liability company,
      employee benefit plan or other entity, Subscriber is authorized and qualified
      to
      become a stockholder of the Company and the person signing this Subscription
      Agreement on behalf of such entity has been duly authorized by such entity
      to do
      so.

     

    (h) No
      representations or warranties have been made to Subscriber by the Company or
      any
      officer, employee, agent or affiliate of the Company, and Subscriber's
      investment decision has been based solely upon Subscriber's independent
      evaluation and due diligence, if any, of the Company.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

     

    (i) Subscriber
      is experienced in evaluating and investing in early stage companies such as
      the
      Company. Subscriber is experienced in business matters and regards himself,
      herself or itself as a sophisticated investor able to evaluate investment and
      financial information and to choose independent professional advisors to assist
      in such evaluation and, either alone or with such advisers, has such knowledge
      and experience in financial and business matters that Subscriber is capable
      of
      evaluating the merits and risks of an investment in each of the Securities
      and
      has the capacity to protect Subscriber’s own interests in connection with
      Subscriber’s proposed investment in the Securities.

     

    (j) Subscriber’s
      aggregate commitments to investments that are not readily marketable are not
      disproportionate to Subscriber’s net worth and an investment in the Securities
      will not cause such aggregate commitment to become excessive. Subscriber has
      adequate means of providing for Subscriber’s current needs and possible personal
      and family contingencies. Subscriber will not be readily able to liquidate
      the
      investment in the case of an emergency, and Subscriber has no need for liquidity
      in this investment in the Company.

     

    (k) Subscriber
      has a preexisting business or personal relationship with the Company or with
      one
      or more of its officers or directors. Subscriber is purchasing the Securities
      solely for Subscriber’s own account for investment (and not for the account of
      any other person), and not with a view to, or for, any resale, distribution,
      fractionalization or other transfer thereof, and Subscriber has no present
      plans
      to enter into any contract, undertaking, agreement or arrangement for any such
      resale, distribution, fractionalization or transfer.

     

    (l) Subscriber
      acknowledges and agrees that the Company may at any time hereafter increase
      the
      amount of any of the Securities authorized to be issued by it, at the Company’s
      sole and absolute discretion. 

     

    7. Representations
      and Warranties Concerning Suitability and Accredited Investor
      Status.
      Subscriber hereby represents and warrants to the Company that Subscriber is
      an
“Accredited Investor” (as defined under Regulation D as promulgated and
      amended by the SEC pursuant to the Securities Act) on the basis of the
      representations made by Subscriber to the Company below. Subscriber hereby
      represents and warrants that:

     

    (a) Subscriber
      has such knowledge and experience in financial and business matters as to be
      capable of evaluating the merits and risks of an investment in the Company
      and
      has obtained sufficient information from the Company to evaluate the merits
      and
      risks of an investment in the Company.

     

    (b) Subscriber
      has determined that the Securities are a suitable investment for Subscriber.
      Subscriber is able to bear the economic risk of the investment in the Company
      (including a complete loss thereof) and has adequate financial or other means
      for providing for Subscriber's current needs and contingencies and has no need
      for liquidity in this investment. 

     

    8. Indemnification.
      Subscriber recognizes that the offer and sale of the Securities to Subscriber
      were and will be based upon the representations, warranties, acknowledgments
      and
      agreements of Subscriber contained in this Subscription Agreement and hereby
      agrees to defend and indemnify the Company (and anyone acting on its behalf)
      with respect to the sale of the Securities, and to hold each such person or
      entity harmless from and against all losses, liabilities, costs, or expenses
      (including reasonable attorneys' fees) arising by reason of or in connection
      with any misrepresentation or any breach of such warranty by Subscriber, or
      arising as a result of the sale or distribution of any of the Securities by
      the
      undersigned in violation of the Securities Act, or any applicable state
      securities laws, or Subscriber's failure to fulfill any of Subscriber's
      covenants or agreements set forth herein. This Subscription Agreement and the
      representations, warranties, and agreements contained herein shall be binding
      upon the heirs, legal representatives, successors and assigns of
      Subscriber.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

     

    9. Fees
      and Expenses.
      Subscriber shall pay for all its own fees and expenses in connection with this
      subscription, including without limitation legal fees and fees of its advisors
      and counsel, if any.  

     

    10. Revocation.
      Subscriber acknowledges and agrees that Subscriber shall not and cannot cancel,
      terminate or revoke this Subscription Agreement or any agreement of Subscriber
      made hereunder, except as otherwise provided by applicable state law, and that
      (if Subscriber is an individual) this Subscription Agreement shall survive
      the
      death, disability, or incompetence of Subscriber. 

     

    11. Restrictions.
      The
      Subscriber agrees that he will not at any time make any disposition of any
      of
      the Securities except in accordance with applicable federal and state securities
      laws and the legend set forth below. The certificates for the Securities to
      be
      issued to the undersigned will bear a legend in substantially the following
      form:

     

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE. SUCH SECURITIES
      MAY
      NOT BE SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
      STATEMENT UNDER THE SECURITIES ACT OF 1933 AND ANY APPLICABLE STATE SECURITIES
      LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION
      IS
      NOT REQUIRED UNDER THE SECURITIES ACT OF 1933 OR SUCH LAWS.

     

    12. Miscellaneous.
      The
      terms and conditions contained in this Subscription Agreement constitute the
      entire agreement between the parties with respect to the subject matter hereof
      and supersede all previous agreements and under-standings, whether oral or
      written, between the parties hereto with respect to the subject matter hereof.
      This Subscription Agreement shall be construed in accordance with and governed
      by the laws of the State of Florida. This Subscription Agreement may be amended
      only by a writing executed by the Company and Subscriber. 

     

    IN
      WITNESS WHEREOF,
      Subscriber has executed this Subscription Agreement on the date indicated on
      the
      signature page hereof.

     

    [Signatures
      on Next Page]

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    The
      undersigned Subscriber confirms and certifies that Subscriber has read this
      entire Subscription Agreement and understands the provisions hereof, and that
      the undersigned has executed this Subscription Agreement as of the date set
      forth below.

     

    DATED:
      March __, 2008

     

    Subscriber
      agrees to purchase the Note on the terms and conditions set forth herein in
      exchange for ONE MILLION DOLLARS ($1,000,000).

     

    The
      Note
      and such shares will be held by Subscriber(s) in the following manner, if
      applicable:

    
      	
              o

            	
              Community
                Property

            	
              
                o

              

            	
              Joint
                Tenants with Right of Survivorship

            
	
              
                o

              

            	
              Tenants
                in Common

            	
              
                o

              

            	
              Separate
                Property

            
	
              o

            	Other:
              (e.g.
              individual, corporation, partnership, limited liability company, trust,
              investment company). Please indicate:_________________________
              .

    

     

    Subscriber
      Signature(s)

     

    

    
      	/s/
              Longfellow Energy, LP	 	 

	
              Name
                of Subscriber (as it is to appear on the share certificate(s)):
                

            	 	
              Name
                of Joint Subscriber, if any (appear on the share
                certificate(s)):

            
	 	 	 
	    
	 	 
	
              Name
                and Title of Signatory if Subscriber is an entity 

            	 	 
	 	 	 
	    
	 	    

	
              Signature

            	 	
              Signature
                of Joint Subscriber

            
	
               

                   

            	 	
               

                   

            
	
              Address

            	 	
              Address
                of Joint Subscriber

            
	 	 	    

	 	 	     
	 	 	
              Accepted
                By:

            
	 	 	 
	 	 	
              TEKOIL
                & GAS CORPORATION,

            
	 	 	
              a
                Delaware corporation

            
	
               

            	 	/s/
              Mark Western, CEO
	 	 	
              Signature

            
	
               

            	 	    

	 	 	
              Name/Title 

            

    

    

     

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

     

    Note: 

     

    In
      the
      case of subscription by,

     

    
      	 	
              ·

            	
              Joint
                Tenants
                with Rights of Survivorship or Tenants
                in Common,
                all tenants must execute this
                subscription,

            

    

     

    
      	 	
              ·

            	
              Husband
                and Wife,
                as community property, one signature only is
                required.

            

    

     

    
      	 	
              ·

            	
              A
                Trust,
                the Trustee must sign and a copy of the Trust Agreement should be
                provided.

            

    

     

    
      	 	
              ·

            	
              A
                Partnership,
                a
                copy of the Statement of Partnership or the Partnership Agreement
                should
                be provided, and execution must be by the number of partners required
                therein to bind the Partnership.

            

    

     

    
      	 	
              ·

            	
              A
                Corporation,
                a
                resolution of the Board of Directors authorizing the subscription
                and
                certified by the Secretary should be
                included.

            

    

     

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    CONVERTIBLE
      PROMISSORY NOTE

     

    

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        7Exhibit
      10.73

     

    THIS
      SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
      (THE “ACT”), OR ANY APPLICABLE STATE LAW, AND MAY NOT BE SOLD, DISTRIBUTED,
      ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED UNLESS (A) THERE IS AN
      EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES
      LAWS COVERING ANY SUCH TRANSACTION OR (B) SUCH TRANSACTION IS EXEMPT FROM
      REGISTRATION AND, IF REQUESTED BY THE MAKER, THE MAKER HAS RECEIVED AN OPINION
      OF COUNSEL SATISFACTORY TO THE MAKER THAT THE TRANSFER IS EXEMPT FROM THE
      REGISTRATION PROVISIONS UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
      LAWS.

    

    THIS
      NOTE IS SUBJECT TO THE PROVISIONS OF A SUBSCRIPTION AGREEMENT, INCLUDING THEREIN
      CERTAIN RESTRICTIONS ON TRANSFER. A COMPLETE AND CORRECT COPY OF SUCH AGREEMENT
      IS AVAILABLE FOR INSPECTION AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL
      BE
      FURNISHED UPON WRITTEN REQUEST AND WITHOUT CHARGE

     

    

    CONVERTIBLE

    PROMISSORY
      NOTE

    

    
      	
              $1,000,000.00

            	
            	
              March
                18, 2008

            

    

    

    

    FOR
      VALUE
      RECEIVED, the undersigned, TEKOIL & GAS CORPORATION, a Delaware corporation
      (“Maker”), promises to pay to LONGFELLOW ENERGY, LP, a Texas limited partnership
      (referred to herein as “Payee” or “Holder”), at the office of Payee at 401
      Gaillardia Parkway, Suite 225, Oklahoma City, OK 73142,or at such other place
      as
      Holder may designate to Maker in writing from time to time, the principal sum
      of
      ONE MILLION AND NO/100THS DOLLARS ($1,000,000.00), in lawful money of the United
      States. Amounts payable hereunder shall be paid, at Payee’s option as specified
      by Payee in writing from time to time, either by (i) check delivered to the
      office of Payee or (ii) wire transfer of immediately available funds to an
      account specified by Payee in writing from time to time. This Note is referred
      to in and issued pursuant to that certain Subscription Agreement, dated as
      of
      March 18, 2008, by and between Payee and Maker (as amended from time to time,
      the “Agreement”). 

    

    The
      unpaid principal amount outstanding under this Note from time to time shall
      bear
      interest at the rate equal to five percent (5%) per annum. Interest shall be
      calculated based on a 360-day year and charged for the actual number of days
      elapsed and shall be payable upon the end of the term of this Note.

    

    This
      Note
      shall be convertible into restricted common stock of Maker at the option of
      Holder at the “Conversion Rate” described below of obligation owed hereunder for
      each share of Common Stock, as further provided below. The Conversion Rate
      shall
      be one (1) share of Common Shares per $.365 in amount due under the Note that
      is
      converted (whether a full or partial conversion is made).

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    To
      convert all of any portion of this Note, the Holder must (a) complete and
      manually sign the irrevocable conversion notice attached hereto (or complete
      and
      manually sign a facsimile of such notice) and deliver such notice to the
      Company, (b) if this Note is in certificated form, surrender such Note to the
      Company, (c) furnish appropriate endorsements and transfer documents if required
      by the Company and (d) pay any transfer or similar tax, if required. The date
      on
      which the Holder satisfies all such requirements shall be deemed to be the
      date
      on which this Note shall have been surrendered for conversion.

    

    On
      the
      ninetieth (90th) day following the date hereof (the “Maturity Date”), the entire
      outstanding principal balance shall be immediately due and payable in full.
      If
      such day is not a business day, such payment shall be made on the next
      succeeding day which is a business day and interest shall continue to accrue
      thereon until paid. As used herein, “business day” means a day, other than a
      Saturday, Sunday or legal holiday, on which commercial banks in Houston, Texas
      are open for the general transaction of business.

    

    The
      indebtedness evidenced hereby may be prepaid in whole or in part, at any time
      and from time to time, without premium or penalty upon ten (10) days prior
      written notice from Maker to Holder. Any such prepayments shall be credited
      first to any accrued and unpaid interest and then to the outstanding principal
      balance hereof.

    

    The
      failure of Maker to pay any principal, interest or any other sums required
      hereunder when due under this Note shall constitute a default. If a default
      shall occur hereunder and such default shall continue for fifteen (15) business
      days after notice thereof is delivered by Holder to Maker, then, and in such
      event, the entire outstanding principal balance of the indebtedness evidenced
      hereby, together with any other sums advanced hereunder and/or under any other
      instrument or document now or hereafter evidencing, securing or in any way
      relating to the indebtedness evidenced hereby, shall, at the option of Holder
      become due and payable regardless of the stipulated date of maturity. Upon
      the
      occurrence of a default as set forth herein, which default is not cured
      following the giving of any applicable notice and within any applicable cure
      period set forth herein, at the option of Holder the outstanding principal
      balance hereof shall bear interest thereafter until paid at an annual rate
      (the
“Default Rate”) equal to the lesser of (i) ten percent (10%) per annum, or (ii)
      the maximum rate of interest allowed to be charged under applicable law (the
      “Maximum Rate”), regardless of whether or not there has been an acceleration of
      the payment of principal as set forth herein. 

    

    In
      the
      event this Note is placed in the hands of an attorney for collection, or if
      Holder incurs any costs incident to the collection of the indebtedness evidenced
      hereby, Maker and any endorsers hereof agree to pay to Holder an amount equal
      to
      all such costs, including, without limitation, all reasonable attorneys’ fees
      and all court costs.

    

    Presentment
      for payment, demand, protest and notice of demand, protest and nonpayment are
      hereby waived by Maker and all other parties hereto. No failure to accelerate
      the indebtedness evidenced hereby by reason of a default hereunder, acceptance
      of a past-due installment or other indulgences granted from time to time, shall
      be construed as a novation of this Note or as a waiver of such right of
      acceleration or of the right of Holder thereafter to insist upon strict
      compliance with the terms of this Note or to prevent the exercise of such right
      of acceleration or any other right granted hereunder or by applicable law.
      No
      extension of the time for payment of the indebtedness evidenced hereby or any
      installment due hereunder, made by agreement with any person now or hereafter
      liable for payment of the indebtedness evidenced hereby, shall operate to
      release, discharge, modify, change or affect the original liability of Maker
      hereunder or that of any other person now or hereafter liable for payment of
      the
      indebtedness evidenced hereby, either in whole or in part, unless Holder agrees
      otherwise in writing. This Note may not be changed orally, but only by an
      agreement in writing signed by the party against whom enforcement of any waiver,
      change, modification or discharge is sought.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    

    All
      agreements herein made are expressly limited so that in no event whatsoever,
      whether by reason of advancement of proceeds hereof, acceleration of maturity
      of
      the unpaid balance hereof or otherwise, shall the amount paid or agreed to
      be
      paid to Holder for the use of the money advanced or to be advanced hereunder
      exceed the Maximum Rate. If, from any circumstances whatsoever, the fulfillment
      of any provision of this Note or any other agreement or instrument now or
      hereafter evidencing, securing or in any way relating to the indebtedness
      evidenced hereby shall involve the payment of interest in excess of the Maximum
      Rate, then, ipso facto,
      the
      obligation to pay interest hereunder shall be reduced to the Maximum Rate;
      and
      if from any circumstance whatsoever, Holder shall ever receive interest, the
      amount of which would exceed the amount collectible at the Maximum Rate, such
      amount as would be excessive interest shall be applied to the reduction of
      the
      principal balance remaining unpaid hereunder and not to the payment of interest.
      This provision shall control every other provision in any and all other
      agreements and instruments existing or hereafter arising between Maker and
      Holder with respect to the indebtedness evidenced hereby.

    

    This
      Note
      is intended as a contract under and shall be construed and enforceable in
      accordance with the laws of the State of Florida, and shall be enforceable
      in a
      court of competent jurisdiction in the State of Florida, regardless of in which
      state this Note is being executed.

    

    HOLDER
      AND MAKER HEREBY KNOWINGLY AND VOLUNTARILY WITH THE BENEFIT OF COUNSEL WAIVE
      TRIAL BY JURY IN ANY ACTIONS, PROCEEDINGS, CLAIMS OR COUNTER-CLAIMS, WHETHER
      IN
      CONTRACT OR TORT OR OTHERWISE, AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY
      WAY
      RELATING TO THIS NOTE.

    

    As
      used
      herein, the terms “Maker” and “Holder” shall be deemed to include their
      respective successors, legal representatives and assigns, whether by voluntary
      action of the parties or by operation of law.

    

    
      	 	
              MAKER:

            
	 	 	     
	 	
              TEKOIL
                & GAS CORPORATION

            
	 	
              a
                Delaware corporation

            
	 	 	     
	 	 	     
	 	
              By:

            	
              /s/
                Mark Western

            
	 	 	
              Mark
                Western

            
	 	 	
              Chief
                Executive Officer

            

    

     

    
 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A TO PROMISSORY NOTE

    

    CONVERSION
      NOTICE

    

    

    
      	
              To:

            	
              Tekoil
                & Gas Corporation

            
	 	
              5036
                Dr. Phillips Boulevard

            
	 	
              Suite
                232

            
	 	
              Orlando,
                Florida 32819

            

    

    

    The
      undersigned hereby elects to:

    

    Convert
      $  
      in
      amount due for ______________ (conversion amount divided by Conversion Rate)
      shares of Common Stock of Tekoil & Gas Corporation, pursuant to the terms of
      the attached Promissory Note and reduction of the amount due undersigned under
      Promissory Note by the number of shares of Common Stock indicated above
      multiplied by the Conversion Rate.

    

    

    The
      Holder reaffirms all covenants, representations and warranties made by it in
      a
      certain Subscription Agreement dated as of March ____, 2008, and agrees that
      all
      such covenants, representations and warranties shall be deemed to be have been
      re-made as of the date hereof.

     

    
      	
              Date:_______________________

            	
              HOLDER:

            
	 	
              By:

            	     
	 	
              Name:

            	 
	 	
              Address:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]