This their todays pr:
"....
EGPI Firecreek, Inc. Announces Retirement of Convertible Debt
EGPI Firecreek, Inc. (OTCBB: EFIR) announced today the successful retirement of a convertible debt originally tied to the funding of their 3 well acquisition program.
As previously reported, the Company acquired the rights to a 3 well drilling program which initiated the start of oil production for their oil and gas division. As part of their funding for the project, the Company agreed to a convertible debenture with a private lending group. Because of the nature of the financing and its dilutive nature which would be caused by any conversions, the Company felt it would be in the interest of the Company and its shareholders to replace the financing before any further dilution to the Company's shares could take place. ...Any oppinion on this?
Dennis Alexander, EGPI's President, stated, "As with any aggressive growth company, both working capital and project financing is always key to the success and abilities a company has in achieving their goals. We plan on continuing our efforts in obtaining more traditional non-dilutive forms of financing as we continue to fund our operations for growth, acquisition and project completion purposes."
The Company would also like to announce that plans for its acquisition of Caddo International are still ongoing and close to being finalized. Final changes and implementations for its closing documents are expected to be completed within the next few days.
.... "
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