SOURCE: ERF Wireless, Inc.

ERF Wireless, Inc.

June 21, 2010 09:26 ET

ERF Wireless Sites Oil & Gas 2010 Revenue Growth Levels as Significantly Increasing

Recent Market Capitalization Downturn Seen as a Temporary Effect

LEAGUE CITY, TX--(Marketwire - June 21, 2010) - ERF Wireless (OTCBB: ERFW), a leading provider of enterprise-class wireless and broadband products and services, announced today that the company continues to grasp significantly more oil and gas business along with expanding its overall recurring revenue base from broadband to drilling operations, oil and gas well rework, frac operation support, SCADA wireless connectivity, pipeline wireless surveillance and connectivity support, customer wireless network design and construction, new bank customer contracts, and NOC support. 

All of this new business, which has largely materialized since the start of 2010, is mostly as a result of the increased ERF Wireless sales and marketing efforts starting in the latter half of 2009 and has continued to move the company forward toward its goal of cash flow positive operations in the next few quarters. In view of all of this increased business activity by ERF Wireless, the company finds it ironic that its market capitalization has also seen a steady decline over recent months coupled with the receipt of a large number of shareholder inquiries regarding this decline in market capitalization of the company and the related causes. ERF Wireless has assured all of these inquiring shareholders that the company is continuing to effectively execute its business plan and is currently on track to meet its objective of near-term positive cash flow.

According to Dr. H. Dean Cubley, CEO of ERF Wireless, "Many publicly traded companies in today's volatile market, like ERF Wireless, have experienced a dramatic drop in the price of their shares. Over the past few years, we've completed a number of acquisitions and expanded our business plan to include the oil and gas industry. We have spent the past few years investing in the infrastructure, people, equipment and networks that are needed to become profitable and we have now turned the corner and are beginning to experience the positive results of laying that foundation. As reported, our Oil & Gas Division is on track to contribute a substantial increase in the company's overall sales in 2010 and our Wireless Bundled Services Division has already experienced a 27% increase in revenues in the first quarter of 2010 as compared to the first quarter in 2009. In addition to increasing our overall performance in 2010, we have initiatives of magnitude in oil and gas planned over the next few months that can inject new excitement to our shareholders. We anticipate 2010 will be an exceptional year for ERF Wireless and that our shareholders will be well rewarded for the trust and confidence they've placed in the company."

About ERF Wireless

ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of ERF Oil & Gas Services, 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 and www.erfwireless.net or call 281-538-2101 (ERFWG).

Forward-looking statements in this release regarding ERF Wireless Inc. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    ERF Wireless Inc.
    Clareen O'Quinn
    281-538-2101
    Email Contact

    or

    Rubenstein Investor Relations Inc.
    Tim Clemensen
    212-843-9337
    Email Contact