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EGPI Firecreek, Inc. Recaps 2012 And Marks Development Plans For 2013



    EGPI Firecreek, Inc. Recaps 2012 And Marks Development Plans For 2013

PR Newswire

SCOTTSDALE, Ariz., Jan. 3, 2013

SCOTTSDALE, Ariz., Jan. 3, 2013 /PRNewswire/ -- EGPI Firecreek, Inc. (OTCBB:
EFIR) announced summary highlights for year 2012 and marks development plans
for year 2013.

Wrap up for the year 2012:

  o EGPI continued its consolidation and wrap up activities for the exit and
    recovery from its business segments related to signalization, lighting,
    and telecom via its 2011 sell off of South Atlantic Traffic Corporation
    (SATCO) and Terra Telecom.
  o EGPI continued the integration and ramp up of its acquired interests in
    oil and gas operations, including various work programs and the
    development of its J.B. Tubb Leasehold Estate/Amoco Crawar field oil and
    gas interests, acquired in early 2011 and located in the Permian Basin and
    the Crawar Field, which is directly adjacent to property operated by
    Chevron Corporation in Ward County, Texas (12 miles southeast of Monahans
    and 30 miles west of Odessa in West Texas). 
  o In late July 2012 EGPI sold a portion of its working and net revenue
    interests in J.B. Tubb Leasehold Estate to U.S. based Mondial Ventures,
    Inc. completing the transaction for $1,150,000 in stock and the assumption
    of debt.
  o EGPI acquired additional rights to develop and drill a series of wells on
    the J.B. Tubb Leasehold Estate/Amoco Crawar Field, South 40 considering
    various targets in formations including Ellenburger, Glorieta, Upper
    Clearfork, Tubbs, Lower Clearfork, Witchita Albany, Wolfcamp, Detrital
    Zone and Waddell formations. AFE CAPEX requirements needed are estimated
    at $19 million for a fully staged-in property development.
  o On August 28, 2012, the Company reported that funding had been secured in
    order to provide for a work program perforating into the new untapped
    Glorieta Formation in the Crawar #2 well. EGPI was successful in striking
    oil and gas in the Glorieta Formation.
  o The Company reported that in the month of September 2012 they produced
    1700 barrels of oil and 8 MCF of natural gas enabling them to return the
    initial investment dollars for drilling and operations in the first half
    of September.
  o On November 05, 2012 the Company announced the signing of a Definitive
    Agreement to acquire, prepare and conduct drilling programs aimed at the
    Barnett Formation (Permian Basin oil leg) located in West Central Texas
    with Mondial Ventures, Inc. The preparation is to include a 3D seismic
    study that will focus on specific Barnett Shale formation characteristics
    which will help to assist in the planning of future drilling for one or
    two Barnett horizontal or equivalent vertical wells on the Boyette lease.

Plans for 2013:

  o EGPI in conjunction with Mondial Ventures, Inc. anticipates raising
    approximately $1.6 million in Capital Expenditures ("CAPEX"), for the
    drilling of an Ellenburger Well to a depth of 8,300 ft. on a turnkey
    basis. The well is located on the South 40 acreage of the J.B. Tubb
    Leasehold Estate. Public Records reveal an average production rate of 240
    barrels of oil per day for Ellenburger wells on properties adjacent to the
    South 40 acreage that are currently owned by Chevron, BP and McCulloch Oil
    Corp.
  o EGPI is currently working with third party financing groups to underwrite
    in excess of 20 million dollars of its CAPEX requirements.
  o EGPI is currently developing a restructuring program for future market
    presence.
  o EGPI is in final review and negotiations for several thousand acres of
    potential oil and gas development leases in its core area of West Central
    Texas.

Dennis Alexander, EGPI's CEO, stated, "We believe the various business
synergies created during year 2012 along with the vital clean up and
restructuring of past operations, along with a renewed oil and gas focus, will
fuel a baseline for our potential growth in the development of oil & gas
wells, revenues, and related opportunities." He also stated, "We look forward
to renewing our market presence in 2013 while increasing much needed
shareholder value to our Company."

About EGPI Firecreek, Inc.

EGPI Firecreek, Inc.'s business and acquisition strategy is focused on
producing oil and gas. The Company puts emphasis on acquiring existing fields
with proven reserves or by the rehabilitation of oilfields with potentially
high throughput. Through its wholly owned subsidiary Energy Producers, Inc.,
it acquires resource properties and inventories. Through its wholly owned
subsidiary Chanwest Resources, LLC it operates as an oil and gas service
business. EGPI Firecreek, Inc. is also planning to expand into producing
energy through alternative energy sources through their recently acquired
Arctic Solar Engineering subsidiary.

About Mondial Ventures, Inc.

Mondial Ventures, Inc. is engaged in the acquisition of Oil & Gas properties
and assets that can be developed into revenue producing assets. The Company
has put an emphasis on acquiring existing Oil fields with proven reserves or
by the rehabilitation of oilfields with potentially high throughput.

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.

CAUTIONARY NOTE TO UNITED STATES INVESTORS

The United States Securities and Exchange Commission permits oil and gas
companies, in their filings with the SEC, to disclose only proved reserves
that a company has demonstrated by actual production or conclusive formation
tests to be economically and legally producible under existing economic and
operating conditions. We use certain terms, such as prospective resource or
Original Oil in Place (OOIP) or Petroleum Initially In Place (PIIP), that the
SEC's guidelines strictly prohibit us from including in filings with the SEC.
U.S. Investors are urged to consider closely the disclosure in our Form 10K.
Additional information may be found at the following web site:
http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm  

Public Relations and Shareholder Information
Joseph Vazquez     
754-204-4549 or
Email: infinityglobalconsulting@gmail.com  

SOURCE EGPI Firecreek, Inc.
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