ERF Wireless, Inc. (ERFB)

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EAGUE CITY, Texas, June 26, 2013 (GLOBE NEWSWIRE) -- ERF Wireless, Inc. (OTCBB:ERFB), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has completed the hearings portion of the arbitration process between itself and Schlumberger as of June 17, 2013.

On January 13, 2009, ERF Wireless entered into exclusive reseller agreements with Schlumberger Technology Corporation and Schlumberger Canada Limited ("Schlumberger") for all of North America. The contracts completed their three year initial terms in January 2012. During the fourth quarter of 2010, ERF Wireless initiated a contractual mediation with Schlumberger to attempt to resolve various financial issues in the reseller agreements. Mediation was unsuccessful, and in 2011 ERF Wireless availed itself of the right to submit a claim against Schlumberger Technology Corporation in binding arbitration as mandated in the parties' reseller agreement. The hearings and other associated formal submittals of this arbitration were completed on June 17, 2013 and a ruling by the three members of the arbitration panel will be the final phase of the arbitration process.