SOURCE: EGPI Firecreek, Inc.

September 20, 2010 08:30 ET

EGPI Firecreek, Inc. Signs Binding Definitive Agreement to Acquire Terra Telecom, LLC.

Acquisition to Bring Consistent Revenue Stream and Net Income to Parent Company

SCOTTSDALE, AZ--(Marketwire - September 20, 2010) - EGPI Firecreek, Inc. (OTCBB: EFIR) is pleased to announce that it has signed a binding Definitive Agreement to acquire Terra Telecom, LLC.

As previously reported, EGPI Firecreek, Inc. signed a binding Letter of Intent to acquire Terra Telecom, LLC. Terms for the acquisition have already been set and agreed to by both parties. Although specific terms for the acquisition are not yet available, the acquisition will be cashless, and done in exchange for a series of Preferred shares of EGPI Firecreek stock. Both companies are currently in the final stages of their due diligence process and expect the final transaction to occur at the end of this month on September 30th.

Terra Telecom is a leading provider of state-of-the-art communication technologies and a premier Alcatel-Lucent partner. They currently serve various sized companies and organizations that use and deploy communications systems, sales, service, and training while consolidating and optimizing the end user experience. Their goal is to provide customers value and integrity in each of these opportunities. Since 1980, Terra has focused on delivering enterprise solutions while leading with voice services and offering full turn-key solutions that consist of voice, data, video and associated applications.

Dennis Alexander, CEO and Chairman of EFIR, stated, "We believe that this acquisition will be pivotal to the development of our business model. Currently, between existing business, backlog orders and the 2.2 million in contracts recently signed within the last 30 days, conservative proforma estimates should bring a revenue stream of approximately 18 million dollars from Terra Telecom."

Wade Clark, Terra Telecom CEO, stated, "We are very pleased to be in the final stages of this acquisition. We expect to bring value with our revenue stream, net income, dynamic management team and extensive clientele, to our new parent company." He also stated, "We also look forward to the synergies between our company, EGPI Firecreek, their subsidiaries, and new business that will be brought to the table."

About Terra Telecom

Terra is an industry leader in value creation for each of their clients and stakeholders. Terra's enterprise business has experienced exponential sales volume and revenue growth since January 2005 with year to year revenue growth averaging 46.6% over 2005, 2006 and 2007. The revenue growth fueled by increases in the volume and scope of jobs created the need for significant infrastructure growth. In 2006 Terra relocated its company headquarters to a modern, 25,000 square foot facility in Tulsa, Oklahoma. This facility provides the Company the space to continue growth and the ability to manage operations throughout the nation.

Terra Telecom also works with the United Nations delivering Alcatel voice products to several countries and the Texas Dept. of Transportation, which will bring significant opportunities to EGPI through various ITS/DOT opportunities with Alcatel products.

For more information on Terra Telecom, please go to:

About EGPI Firecreek, Inc.

EGPI Firecreek, Inc.'s business and acquisition strategy is focused on both the vertical integration of enterprises serving the D.O.T. Construction and Intelligent Traffic System markets through South Atlantic Traffic, Inc. (SATCO) alongside its wholly owned subsidiary M3 Lighting, Inc. (M3), and on oil and gas production with an emphasis on acquiring existing fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories, through its wholly owned subsidiary Energy Producers, Inc. (Energy Producers) and for oil and gas servicing business through its wholly owned subsidiary Chanwest Resources, LLC (CWR). EGPI Firecreek, Inc. is also looking to expand into alternative energy sources as well as industries in the energy field. Other companies in the oil sector include Exxon Mobil, Pantina Oil and Gas Inc., Frontier Oil Inc. and Cabot Oil & Gas Inc.

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.

Contact Information