SOURCE: ERF Wireless Inc.

ERF Wireless Inc.

March 16, 2011 16:10 ET

ERF Wireless Improves Financial and Operational Posture as Energy Broadband Prepares to Expand Oil and Gas Operations

LEAGUE CITY, TX--(Marketwire - March 16, 2011) - ERF Wireless (OTCBB: ERFW), a leading provider of enterprise-class wireless and broadband products and services, announced today that the company's financial and operational posture has recently undergone a significant enhancement. These positive changes come as its Energy Broadband subsidiary is also experiencing a significant increase in customer requests and revenue for service throughout North American oil and gas markets as well as internationally. In addition, the recent sale of two of the ERF Wireless WISP networks not only brought in more than three million dollars of liquidity but has also significantly reduced the overall ERF Wireless employee payroll costs, bandwidth costs, tower rents, and many other operational costs. As a result of this increased liquidity and other factors, much of the ERF Wireless balance sheet debt has been eliminated and any remaining debt is mostly long term in nature.

Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "I'm very pleased to report to our shareholders that the potential that ERF Wireless has long seen in our oil and gas business has now become a reality. In addition, our other business units have now been streamlined and are continuing to produce revenue in multiple business sectors. The ERF Wireless business plan to have a balanced mixture of wireless broadband revenue from oil and gas, WISP, banking, education, and health care is firmly in place; although, in the current economic environment, the oil and gas and WISP segments have recently represented the majority of the revenue. We now see our oil and gas revenue surging as we also reduce our overall operational costs and increase our cash liquidity. If the current trends continue, these factors should significantly improve the potential for ERF Wireless to soon achieve our short term objective of becoming cash flow positive and ultimately achieve overall profitability."

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 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. 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.

Contact Information

  • Contact:
    ERF Wireless Inc.
    Clareen O'Quinn
    281-538-2101 ext. 113
    Email Contact