One thing I see, is you keep writing over the top of the array "TEXT". Also, you don't need the FOR...NEXT loop to read sequentually.

Try just this:
Code:
I2CRead memSDA,memSCL,$A1,addr,[STR TEXT\14]  'Addr is a WORD, with initial value of $0000
This will read the first 14 bytes of the array.
To output try this:
Code:
TEXT2   VAR TEXT[8]
serout2 lcdp,lcds,[i,line1,"LOC : ",STR TEXT\6, "  ",STR TEXT2\6 ]             ' Display