Document:

<PAGE>

EXHIBIT 10.24

This instrument was prepared by
and after recording return to:

Scott J. Giordano, Esq.
Loeb & Loeb LLP
345 Park Avenue
New York, New York 10154
--------------------------------------------------------------------------------
                                       SPACE ABOVE THIS LINE FOR RECORDER'S USE.

                      DEED OF TRUST MODIFICATION AGREEMENT

                                     MADE BY

                                GOTLAND OIL, INC.
                               a Texas corporation

                                 as "Mortgagor"

                                       to

                              CHICAGO TITLE COMPANY

                                  as "Trustee"

                               for the benefit of

                            LAURUS MASTER FUND, LTD.
                            a Cayman Islands company

                                 as "Mortgagee"

<page>

                      DEED OF TRUST MODIFICATION AGREEMENT

EMPLOYER IDENTIFICATION NUMBER OF MORTGAGOR:  76-0295463

EMPLOYER IDENTIFICATION NUMBER OF MORTGAGOR:  1136794

THIS DEED OF TRUST MODIFICATION AGREEMENT (this "Modification Agreement") is
from GOTLAND OIL, INC., a Texas corporation, as Mortgagor ("Mortgagor"), to
CHICAGO TITLE COMPANY, as Trustee ("Trustee") for the benefit of LAURUS MASTER
FUND, LTD., a Cayman Islands company ("Mortgagee").

                                    RECITALS:

         WHEREAS, Mortgagor heretofore executed and delivered to Mortgagee that
certain DEED OF TRUST, SECURITY AGREEMENT, FINANCING STATEMENT AND ASSIGNMENT OF
PRODUCTION dated as of June 12, 2006 (the "Deed of Trust"), conveying to
Trustee, for the benefit of Mortgagee, the Mortgaged Property (as defined in the
Deed of Trust);

         WHEREAS, the Deed of Trust was recorded on June 15, 2006, as Instrument
No. 026146550, in the Official Records of the Recorder's Office in the County of
Kern, State of California; and

         WHEREAS, Mortgagor and Mortgagee desire to amend and modify the Deed of
Trust on the terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the sum of $10.00 and other good
and valuable consideration, the receipt and adequacy of which are hereby
acknowledged and confessed by Mortgagor, the parties hereto hereby agree as
follows:

1. The defined term "Effective Date" set forth in Section 1.1 of the Deed of
Trust is hereby deleted in its entirety.

2. The defined term "Loans" set forth in Section 1.1 of the Deed of Trust is
hereby amended in its entirety to provide as follows:

         "'Loans' shall mean collectively, all amounts advanced by the Mortgagee
         to Mortgagor, Carneros and/or Holdings under the Note and the Credit
         Agreements."

3. The defined term "Obligations" set forth in Section 1.1 of the Deed of Trust
is hereby amended in its entirety to provide as follows:

         "'Obligations' shall mean all present and future indebtedness,
         obligations and liabilities, and all renewals, refinancings and
         extensions thereof, or any part thereof, of Mortgagor, Carneros and/or
         Holdings, to Mortgagee arising pursuant to the Credit Agreements, or
         arising pursuant to any commodity, interest rate, currency or other
         swap, option, collar, futures contract or other contract pursuant to

                                       2

<page>

         which a Person hedges risks related to commodity prices, interest
         rates, currency exchange rates, securities prices or financial market
         conditions and any other commodity price hedging agreements by and
         between Mortgagor, Carneros and/or Holdings and Mortgagee and all
         interest accrued on any of the foregoing, and reasonable costs,
         expenses, and attorneys' fees incurred in the enforcement or collection
         thereof, regardless of whether such indebtedness, obligations and
         liabilities are direct, indirect, fixed, contingent, liquidated,
         unliquidated, joint, several or joint and several."

4. The defined term "Securities Purchase Agreement" set forth in Section 1.1 of
the Deed of Trust is hereby amended in its entirety to provide as follows:

         "Securities Purchase Agreements" means the Securities Purchase
         Agreement dated as of May 31, 2006 among Holdings, Mortgagor (which
         will join as a party thereto pursuant to the terms of a Joinder and
         Amendment Agreement among Mortgagor, Carneros, Holdings and Mortgagee,
         as amended, modified and supplemented from time to time, the "Joinder
         Agreement") and Carneros (which will join as a party thereto pursuant
         to the terms of the Joinder Agreement), as may be amended, modified and
         supplemented from time to time."

5. Clause (d) in Article II of the Deed of Trust is hereby amended by deleting
the phrase "from and after the Effective Date".

6. Section 6.1(f) of the Deed of Trust is hereby amended by deleting the first
reference to "Effective Date" contained therein and replacing it with the word
"date".

7. Section 6.1(f) of the Deed of Trust is hereby amended by deleting the second
reference to "Effective Date" contained therein and replacing it with the phrase
"date hereof".

8. The blank set forth in the notice provisions of Section 7.14 of the Deed of
Trust under the heading "Mortgagor-Debtor" opposite the word "Attention" is
hereby amended to read: "Attention: Daren Katic, President".

9. Section 8.1 of the Deed of Trust is hereby amended be deleting the phrase "on
and after the Effective Date" contained therein.

10. All references to the "Deed of Trust" in the Deed of Trust and herein shall
mean the "Deed of Trust" as amended by this Modification Agreement and as may be
further amended, modified, supplemented and/or restated from time to time.

11. In all other respects, the Deed of Trust is hereby restated, reaffirmed and
incorporated herein, the only amendments intended to be made thereto being those
above set forth. Except as specifically set forth herein to the contrary, all
terms defined in the Deed of Trust shall have the same meanings herein as
therein

                                       3

<page>

8. This Modification Agreement is binding upon Mortgagor, and Mortgagor's heirs,
devisees, successors, personal and legal representatives and assigns, and shall
inure to the benefit of Mortgagee and Trustee, and their successors, legal
representatives and assigns, and the provisions hereof shall likewise be
covenants running with the Lands.

9. This Modification Agreement may be executed in any number of counterparts,
each of which shall for all purposes be deemed to be an original, and all of
which are identical.

10. THIS MODIFICATION AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA AND THE LAWS OF THE UNITED
STATES OF AMERICA, EXCEPT TO THE EXTENT THAT THE LAWS OF ANY STATE IN WHICH THE
MORTGAGED PROPERTY IS LOCATED NECESSARILY GOVERNS THE VALIDITY, PERFECTION,
PRIORITY AND ENFORCEABILITY OF, AND THE EXERCISE OF ANY REMEDIES WITH RESPECT
TO, ANY LIEN INTENDED TO BE CREATED HEREBY ON THE MORTGAGED PROPERTY LOCATED IN
SUCH STATE.

                                       4

<page>

         IN WITNESS WHEREOF, Mortgagor, acting by and through its duly
authorized officer has executed this Modification Agreement dated and effective
as of June 29, 2006.

                                        GOTLAND OIL, INC.

                                        By: /s/ Darren Katic
                                            ------------------------------
                                            Darren Katic, President

The address of Gotland Oil, Inc. is:

1065 West Pier E Street
Long Beach, California 90802-1015

                                        This Deed of Trust was prepared by, and
                                        recorded counterparts should be returned
                                        to:

                                        Scott Giordano, Esq.
                                        Loeb & Loeb LLP
                                        345 Park Avenue
                                        New York, New York 10154

                              NOTARY ACKNOWLEDGMENT

STATE OF _____________

COUNTY OF _____________

       On ______________ before me, _______________, a Notary Public in and for
said County and State, personally appeared _______________ [[_] personally known
to me] [[_] proved to me on the basis of satisfactory evidence] to be the
persons(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the
instrument the person(s), or the entity(ies) upon behalf of which the person(s)
acted, executed the instrument.

WITNESS my hand and official seal.

Signature ____________________________               (SEAL)<PAGE>

EXHIBIT 10.25

This instrument was prepared by
and after recording return to:

Scott J. Giordano, Esq.
Loeb & Loeb LLP
345 Park Avenue
New York, New York 10154
--------------------------------------------------------------------------------
                                       SPACE ABOVE THIS LINE FOR RECORDER'S USE.

                      DEED OF TRUST MODIFICATION AGREEMENT

                                     MADE BY

                          PACIFIC ENERGY RESOURCES LTD.
                             a Delaware corporation

                                 as "Mortgagor"

                                       and

                           PETROCAL ACQUISITION CORP.
                             a Delaware corporation

                                 as "Mortgagor"

                                       to

                              CHICAGO TITLE COMPANY

                                  as "Trustee"

                               for the benefit of

                            LAURUS MASTER FUND, LTD.
                            a Cayman Islands company

                                 as "Mortgagee"

<page>

                      DEED OF TRUST MODIFICATION AGREEMENT

EMPLOYER IDENTIFICATION NUMBER OF PACIFIC:  05-0563442

ORGANIZATIONAL IDENTIFICATION NUMBER OF PACIFIC:  3794132

EMPLOYER IDENTIFICATION NUMBER OF PETROCAL:  20-2306249

ORGANIZATIONAL IDENTIFICATION NUMBER OF PETROCAL:  3781355

         THIS DEED OF TRUST MODIFICATION AGREEMENT (this "MODIFICATION
AGREEMENT") is from PACIFIC ENERGY RESOURCES LTD., a Delaware corporation, as
Mortgagor ("PACIFIC") and PETROCAL ACQUISITION CORP., a Delaware corporation, as
Mortgagor ("PETROCAL" together with Pacific, each a "MORTGAGOR" and
collectively, "MORTGAGORS"), to CHICAGO TITLE COMPANY, as Trustee ("TRUSTEE")
for the benefit of LAURUS MASTER FUND, LTD., a Cayman Islands company
("MORTGAGEE").

                                    RECITALS:

         WHEREAS, Mortgagors heretofore executed and delivered to Mortgagee that
certain DEED OF TRUST, SECURITY AGREEMENT, FINANCING STATEMENT AND ASSIGNMENT OF
PRODUCTION dated as of December 23, 2005 (the "Deed of Trust"), conveying to
Trustee, for the benefit of Mortgagee, the Mortgaged Property (as defined in the
Deed of Trust);

         WHEREAS, the Deed of Trust was recorded on December 29, 2005, as
Instrument No. 05-3218848, in the Official Records of the Recorder's Office in
the County of Los Angeles, State of California; and

         WHEREAS, Mortgagors and Mortgagee desire to amend and modify the Deed
of Trust on the terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the sum of $10.00 and other good
and valuable consideration, the receipt and adequacy of which are hereby
acknowledged and confessed by each Mortgagor, the parties hereto hereby agree as
follows:

1. The first paragraph of the Deed of Trust, immediately prior to the Recitals
thereto, is hereby amended in its entirety to provide as follows:

         "THIS DEED OF TRUST, SECURITY AGREEMENT, FINANCING STATEMENT AND
         ASSIGNMENT OF PRODUCTION (this "DEED OF TRUST") is from PACIFIC ENERGY
         RESOURCES LTD., a Delaware corporation, as Mortgagor ("PACIFIC") and
         PETROCAL ACQUISITION CORP., a Delaware corporation, as Mortgagor
         ("PETROCAL" together with Pacific, each a "MORTGAGOR" and collectively,
         "MORTGAGORS"), to CHICAGO TITLE COMPANY, as Trustee ("TRUSTEE") for the
         benefit of LAURUS MASTER FUND, LTD., a Cayman Islands company
         ("MORTGAGEE"). The addresses of Mortgagor and each Mortgagee are set
         forth in Section 7.14 hereof."

                                       2

<page>

2. The defined term "Effective Date" set forth in Section 1.1 of the Deed of
Trust is hereby deleted in its entirety.

3. The opening paragraph of Article II of the Deed of Trust through and
including the semi-colon immediately preceding clause "(a)" thereof is hereby
amended in its entirety to provide as follows:

                  "Each Mortgagor, for and in consideration of the sum of $10.00
         and other good and valuable consideration, in hand paid by Mortgagee,
         the receipt and adequacy of which are hereby acknowledged and confessed
         by each Mortgagor, and for and in consideration of the debt and
         purposes hereinafter set forth, to secure the full and complete payment
         and performance of the Secured Indebtedness and to secure the
         performance of the covenants, obligations, agreements and undertakings
         of each Mortgagor hereinafter described, hereby acknowledges, confirms
         and agrees that each Mortgagor has GRANTED, BARGAINED, WARRANTED,
         MORTGAGED, ASSIGNED, TRANSFERRED and CONVEYED, and by these presents
         does GRANT, BARGAIN, WARRANT, MORTGAGE, ASSIGN, TRANSFER and CONVEY
         unto Trustee, its substitutes or successors, and its and their assigns,
         with power of sale, for the benefit of Mortgagee, as herein provided,
         for the uses and purposes herein set forth, with warranties and
         covenants of title only to the extent provided herein and in the Credit
         Agreements, all of such Mortgagor's right, title and interest, whether
         now owned or hereafter acquired, in all of the hereinafter described
         properties, rights and interests; and, insofar as such properties,
         rights and interests consist of equipment, general intangibles,
         accounts, contract rights, inventory, goods, chattel paper,
         instruments, documents, money, fixtures, asextracted collateral,
         proceeds and products of collateral or any other Personal Property of a
         kind or character defined in or subject to the applicable provisions of
         the Code, each Mortgagor hereby grants to Trustee, in trust, for the
         benefit of Mortgagee, a security interest therein, whether now owned or
         hereafter acquired, namely:"

4. Clause (d) in Article II of the Deed of Trust is hereby amended by deleting
the phrase "from and after the Effective Date".

5. Clause "(c)" of Article III of the Deed of Trust is hereby amended in its
entirety to provide as follows:

         "(c) payment and performance of any and all present and future
         obligations of each Mortgagor according to the terms of any present or
         future hedge transaction, in each case relating to the transactions
         contemplated by the Credit Agreements, including, without limitation,
         any present or future swap agreements, cap, floor, collar, exchange
         transaction, forward agreement or other exchange or protection
         agreements relating to any such transaction now existing or hereafter
         entered into between any Mortgagor, on the one hand and Mortgagee on
         the other hand;"

                                       3

<page>

6. Clause "(e)" of Article III of the Deed of Trust is hereby amended in its
entirety to provide as follows:

         "(e) all other and additional debts, obligations and liabilities of
         every kind and character of each Mortgagor now existing or hereafter
         arising in connection with any of the Credit Agreements (all of the
         obligations and indebtedness referred to in this ARTICLE III, and all
         renewals, refinancings, extensions and modifications thereof, and all
         substitutions therefor, in whole or in part, are herein sometimes
         referred to as the "SECURED INDEBTEDNESS")."

7. The Power of Sale paragraph set forth in Article VI of the Deed of Trust
immediately following Section 6.1(f) thereof is hereby amended in its entirety
to provide as follows:

         "A POWER OF SALE HAS BEEN GRANTED IN THIS DEED OF TRUST. A POWER OF
         SALE MAY ALLOW MORTGAGEE TO TAKE THE MORTGAGED PROPERTY AND SELL IT
         WITHOUT GOING TO COURT IN A FORECLOSURE ACTION UPON DEFAULT BY ANY
         MORTGAGOR UNDER THIS DEED OF TRUST."

8. Section 6.1(f) of the Deed of Trust is hereby amended by deleting the first
reference to "Effective Date" contained therein and replacing it with the word
"date".

9. Section 6.1(f) of the Deed of Trust is hereby amended by deleting the second
reference to "Effective Date" contained therein and replacing it with the phrase
"date hereof".

10. Section 8.1 of the Deed of Trust is hereby amended be deleting the phrase
"on and after the Effective Date" contained therein.

11. All references to the "Deed of Trust" in the Deed of Trust and herein shall
mean the "Deed of Trust" as amended by this Modification Agreement and as may be
further amended, modified, supplemented and/or restated from time to time.

12. In all other respects, the Deed of Trust is hereby restated, reaffirmed and
incorporated herein, the only amendments intended to be made thereto being those
above set forth. Except as specifically set forth herein to the contrary, all
terms defined in the Deed of Trust shall have the same meanings herein as
therein

8. This Modification Agreement is binding upon each Mortgagor, and such
Mortgagor's heirs, devisees, successors, personal and legal representatives and
assigns, and shall inure to the benefit of Mortgagee and Trustee, and their
successors, legal representatives and assigns, and the provisions hereof shall
likewise be covenants running with the Lands.

9. This Modification Agreement may be executed in any number of counterparts,
each of which shall for all purposes be deemed to be an original, and all of
which are identical.

                                       4

<page>

10. THIS MODIFICATION AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA AND THE LAWS OF THE UNITED
STATES OF AMERICA, EXCEPT TO THE EXTENT THAT THE LAWS OF ANY STATE IN WHICH THE
MORTGAGED PROPERTY IS LOCATED NECESSARILY GOVERNS THE VALIDITY, PERFECTION,
PRIORITY AND ENFORCEABILITY OF, AND THE EXERCISE OF ANY REMEDIES WITH RESPECT
TO, ANY LIEN INTENDED TO BE CREATED HEREBY ON THE MORTGAGED PROPERTY LOCATED IN
SUCH STATE.

                           [Signature Page to Follow]

                                       5

<page>

         IN WITNESS WHEREOF, each Mortgagor, acting by and through its duly
authorized officer has executed this Modification Agreement dated and effective
as of June 29, 2006.

                                        PACIFIC ENERGY RESOURCES, LTD

                                        By: /S/ DARREN KATIC
                                            ------------------------------------
                                            Darren Katic, President

The address of Pacific Energy Resources Ltd. is:

1065 West Pier E Street
Long Beach, California 90802-1015

                                        PETROCAL ACQUISITION CORP.

                                        By: /S/ DARREN KATIC
                                            ------------------------------------
                                            Darren Katic, President

The address of Petrocal Acquisition Corp. is:

1065 West Pier E Street
Long Beach, California 90802-1015

                                        This Deed of Trust was prepared by, and
                                        recorded counterparts should be
                                        returned to:

                                        Scott Giordano, Esq.
                                        Loeb & Loeb LLP
                                        345 Park Avenue
                                        New York, New York 10154

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