This Employment Agreement (the “Agreement”) is effective as of February 27, 2008 (the
“Effective Date”) by and between John O’Keefe (the “Executive”) and Blast Energy Services, Inc., a Texas
corporation (the “Company”).
Duties and Scope of Employment.
(a) Position. For the term of this Agreement, the Company agrees to employ the
Executive in the position of Chief Executive Officer (the “Employment”). The duties and responsibilities
of Executive shall include the duties and responsibilities for the Executive’s corporate office and position
as set forth in the Company’s bylaws and such other duties and responsibilities as the Company’s Chief
Executive Officer and/or Board of Directors may from time to time reasonably assign to the Executive.
(b) Obligations to the Company. During his Employment, the Executive shall devote
his full business efforts and time to the Company. During his Employment, without prior written approval
from the Board of Directors, the Executive shall not render services in any capacity to any other person
or entity and shall not act as a sole proprietor or partner of any other person or entity or as a shareholder
or other owner owning more than ten percent of the stock or other interests of any other corporation or
entity. This obligation, however, shall not preclude Executive from engaging in appropriate civic,
charitable or religious activities or from devoting a reasonable amount of time to private investments or
from serving on the boards of directors of companies, including closely held companies which are
controlled by Executive as long as these activities or services do not materially interfere or conflict with
Executive’s responsibilities to, or ability to perform his duties of employment by, the Company under this
Agreement. The Executive shall comply with the Company’s policies and rules as they may be in effect
from time to time during his Employment.