SOURCE: EGPI Firecreek, Inc.

September 08, 2010 12:33 ET

EGPI Firecreek Updates Acquisition Plans to Acquire Assets of Caddo International and Extend Timing for Completion

Acquisition Targets Growth for EGPI's Oil & Gas Division

SCOTTSDALE, AZ--(Marketwire - September 8, 2010) -  EGPI Firecreek, Inc. (OTCBB: EFIR) today announced updates on progress final stages of a Definitive Agreement to acquire Caddo International, an Oil Service company that currently services the Northwest Louisiana and East Texas regions of the United States.

As previously reported Caddo International has been in business for over 40 years as a production and service company, utilizing their own equipment and pulling units in order to provide oilfield services. The company produces revenues of approximately $2,400,000 per year with a positive net income, and assets of approximately 6 million dollars. Negotiations for the structure of the Definitive Agreement, as well as, due diligence for the acquisition, have been ongoing but have been extended due the schedules of both companies and inter related projects with Chanwest Resources, Inc., a wholly owned subsidiary of EGPI Firecreek, Inc. Chanwest reports operations are ramping up nicely with recent DOT approvals, and entering cash flow positive status. The Company will update status of important events for Chanwest in upcoming news releases.

David Taylor, CEO of Caddo, stated, "We look forward to working with EGPI Firecreek, Inc. commandeering the acquisition and stage in processes with a goal to give the CADDO shareholders maximum return while creating minimum dilution effect to EGPI."

Dennis Alexander, EGPI's CEO, stated, "We are confident that once completed, the asset acquisition will play a valuable part in the continued growth of our oil & gas division."

About EGPI Firecreek, Inc.

EGPI Firecreek, Inc.'s business and acquisition strategy is focused on both the vertical integration of enterprises serving the DOT Construction and Intelligent Traffic System markets 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 Chanwest Resources, Inc. 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 EPGI 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.

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