ESP Resources, Inc.
OTC Bulletin Board : ESPI

ESP Resources, Inc.

March 16, 2010 10:26 ET

ESP Resources, Inc. Board of Directors Approves Reduction in the Company's Authorized Common Stock from 1,200,000,000 Shares to 150,000,000 Shares

SCOTT, LOUISIANA--(Marketwire - March 16, 2010) - ESP Resources, Inc. (OTCBB:ESPI) ("ESP") is pleased to announce that the Board of Directors has approved the preparation of a PRE 14A filing with the U.S. Securities and Exchange Commission ("SEC") to reduce the amount of authorized common stock from 1,200,000,000 shares currently authorized to 150,000,000 shares. The officers of the corporation have notified the company's SEC counsel to commence this process and instructed them to prepare the PRE 14A filing authorizing the reduction.

Commenting on the reduction in the authorized shares, President David Dugas stated, "We believe this reduction will bring the company in line with its business direction and is more commensurate with industry standards with respect to its current capitalization."

About ESP Resources, Inc.

ESP Resources, Inc. is a publicly traded oil and gas company (OTCBB:ESPI) headquartered in Scott, LA. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., ESP is a manufacturer, blender, distributor, and marketer of specialty chemicals and analytical services to the oil and gas industry. ESP supplies retail and wholesale specialty chemicals for a variety of oil field applications including production, drilling, waste remediation, cleaning, and waste water treatment. From its 11,000 square foot blending and distribution facility, ESP distributes its product line throughout the Gulf Coast region of Louisiana, Texas, Mississippi, and Alabama, both onshore and offshore. The wholesale division of the company supplies specialty chemicals to several retailers operating in West Africa. The company's senior management has over 100 years of combined operating experience in the petrochemical industry.

Legal Notice Regarding Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Closing of the transactions described above is subject to a number of terms and conditions, including further corporate and regulatory approvals. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. In evaluating these statements, you should consider the risks discussed, from time to time, in the reports we file with the US Securities and Exchange Commission.

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