LEAGUE CITY, TX--(Marketwire - Sep 19, 2012) - ERF Wireless (OTCBB: ERFB), the operator of the nation's largest terrestrial wireless broadband network servicing the domestic oil & gas sector, has today announced that it has recently entered into a Master Services Agreement ("MSA") with an additional Fortune 200 Oil & Gas Company ("New Customer") to initially provide integrated wireless communication services to multiple oil rigs deployed within the state of Colorado. The Company initiated services for this customer during the 2nd calendar quarter of 2012, has already started generating revenues from these services, and anticipates that these revenues will accelerate over the coming quarters with additional customers being added within the region, as well as when more rigs are provided service in accordance with the current MSA. This MSA with this new customer represents the most recent, among multiple such agreements, signed between the Company and Fortune 200 ($30 Billion + Market Cap) Oil & Gas exploration Companies. The Company expects that more than 50% of its annual revenue, for Calendar Year 2012, will be generated from business conducted with such industry leaders. Due to a rebound in the price of oil and strong organic growth from existing customers, the Company's growth prospects remain robust for the remainder of 2012 and beyond.
Dr. Dean Cubley, CEO of ERF Wireless, commented, "Our subsidiary Energy Broadband has done an outstanding job of penetrating the domestic oil and gas exploration sector. With this new agreement, the Company has further established itself as the best communications solution for oil and gas exploration companies, operating in remote oil and gas rich regions of the United States. The majority of the Company's revenues are now derived from the high margin oil and gas business, and as a result, the blended margins continue to increase month to month moving the Company to the brink of achieving our goal of profitability and positive cash flow."
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 Wireless Bundled Services, ERF Wireless Messaging Services and ERF Network Operations. 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 http://www.erfwireless.com/ and http://www.energybroadband.com/ or call 281-538-2101. (ERFBG)
Forward-looking statements in this release regarding ERF Wireless Inc. and Energy Broadband 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.