EGPI Firecreek Inc. Continues Progress in Oil & Gas Division as Crude Oil Hits Two Year High at over $108 Per Barrel
Apr 5, 2011 7:00:00 AM
Copyright Business Wire 2011
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- EGPI Firecreek, Inc. (OTCBB: EFIR.OB) (the “Company”) is pleased to announce that significant progress has been made in the consolidation of its holdings in order to facilitate the focus and expansion of their Oil & Gas and Alternative Energy divisions.
Because of political uncertainty in Libya and the Middle East in addition to signs of a sustained and growing US economy that’s expected to stimulate greater demand for crude and petroleum products, oil prices continue to rally by showing a significant rise in price hitting a 2 ½ year high yesterday with no immediate signs of leveling off.
EGPI Firecreek, Inc. has been working around the clock in order to implement several opportunities that have showed potential for substantial and sustainable growth for their Oil & Gas division, through expanded drilling rights, oil & gas equipment services, asset accumulation, and production.
Additionally, the Company continues to receive oral commitments for finance packages that will allow for progressive improvement and expansions of their Chanwest Resource and Tubbs Estate entities. The expansion of these two entities are considered key to the Company’s strategy of growth and increased oil and gas production.
Dennis Alexander, CEO and Chairman, stated, “This is a very exciting time for us as an energy company. We are confident that the timing of our decision to consolidate our holdings was excellent. We are very close to focusing our sole energies on our core business of oil and gas equipment servicing and the development and production of oil and gas.” He also stated, “We also look forward to the launch of our solar energy distribution channels through our subsidiary, Arctic Solar Engineering, LLC. We fully expect to have signed agreements for the initial distribution of their commercial Solar Thermal Energy products for two states over the next several days through their newly created distribution entity, SolarUS.”
For more information on SolarUs please see: www.solarustoday.com
About EGPI Firecreek, Inc.
EGPI Firecreek, Inc.'s business and acquisition strategy is focused on oil and gas production with an emphasis on acquiring existing fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories, through its wholly owned subsidiary Energy Producers, Inc. and for oil and gas servicing business through its wholly owned subsidiary Chanwest Resources, LLC. EGPI Firecreek, Inc. is also looking to expand into alternative energy sources through their recently acquired Arctic Solar Engineering as well as multi-channel distribution throughout the United States.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of EGPI Firecreek, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond EGPI Firecreek, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in EGPI Firecreek, Inc.'s filings with the Securities and Exchange Commission.
EGPI Firecreek, Inc.
Public Relations and Shareholder Information
Joe Vazquez, 754-204-4549
infinityglobalconsulting@gmail.com
Source: EGPI Firecreek, Inc.
