ERF Wireless Completes Hearings of Arbitration Process With Schlumberger
LEAGUE 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
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.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League
City, Texas, and is the parent company of Energy Broadband Inc., ERF
Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless
Messaging Services and ERF Network Services. The company specializes in
providing wireless and broadband product and service solutions to enterprise,
commercial and residential clients on a regional, national and international
basis. Its principals have been in the wireless broadband, network
integration, triple-play FTTH, IPTV and content delivery business for more
than 40 years. For more information, please visit our websites at
www.erfwireless.com, www.energybroadband.com and www.erfwireless.net or call
The information in this release may contain forward-looking statements
relating to anticipated or expected events, activities, trends or results.
Forward-looking statements, can be identified by the use of forward looking
terminology such as "believes," "suggests," "expects," "may," "goal,"
"estimates," "should," "likelihood," "plans," "targets," "intends," "could,"
or "anticipates," or the negative thereof, or other variations thereon, or
comparable terminology, or by discussions of strategy or objectives. Because
forward-looking statements relate to matters that have not yet occurred, these
statements are inherently subject to risks and uncertainties. Forward-looking
statements in this release include, without limitation, the Company's
expectations of continued expansion into oil and gas markets and of our
terrestrial broadband networks, along with other performance results. These
statements are made to provide the public with management's current assessment
of our business, and it should not be assumed that that the forward looking
statements will prove to be correct. Security holders are cautioned that such
forward-looking statements involve risks and uncertainties. The
forward-looking statements contained in this release only as of the date
hereof, and we expressly disclaim any obligation or undertaking to report any
updates or revisions to any such statement to reflect any change in
management's expectations or any change in events, conditions or circumstances
on which any such statement is based. Certain factors may cause results to
differ materially from those anticipated by some of the statements made in
this release. Please carefully review our filings with the Securities and
Exchange Commission as we have identified many risk factors that impact our
CONTACT: ERF Wireless Inc.
281-538-2101 ext. 113
Press spacebar to pause and continue. Press esc to stop.