SOURCE: ESP Resources, Inc.
THE WOODLANDS, TX--(Marketwire - Feb 21, 2013) - ESP Resources, Inc. (OTCBB: ESPI) (the "Company" or "ESP Resources"), an oil and gas services company, announced today that, through its wholly-owned subsidiary ESP Petrochemicals, Inc., it has entered into a Reseller and License Agreement (the "Agreement") with RGV Petroleum, LLC in McAllen, TX ("RGV") for the supply of certain of the Company's products in Mexico. Under the Agreement, RGV is obligated to obtain field service contracts for the supply of the Company's chemicals to several clients in Mexico and is targeting, among others, the world's second largest non-publicly listed company and one of the largest service companies in Mexico. ESP Resources will also be providing technical support engineering for onsite guidance and training to RGV that will be billed on an as-needed basis.
David Dugas, President of ESP Resources, said, "The value of this contract is expected to exceed $10 million in 2013 and ramp up to $30 million in 2014. We anticipate revenues from this agreement to begin in March of 2013."
Mr. Dugas added, "We will also be testing a 300,000 plus barrel per day water injection plant in the Southeast oilfields of Mexico with RGV, and we expect additional revenues from this facility to start in the second quarter of 2013."
For more information regarding this announcement, please refer to the corresponding Form 8-K filed with the Securities and Exchange Commission.
About ESP Resources, Inc.:
ESP Resources, Inc. is a publicly traded oil and gas services company (OTCBB: ESPI) headquartered in The Woodlands, Texas. Through its subsidiaries, the Company manufactures, blends, distributes and markets specialty chemicals and analytical services to the oil and gas industry and also provides services for the upstream, midstream and downstream sectors of the energy industry, including new construction, major modifications to operational support for onshore and offshore production, gathering, refining facilities and pipelines designed to optimize performance and increase operators' return on investment. The Company's senior management has over 100 years of combined operating experience in the oil and gas services industry. More information is available on the Company's Website at www.espchem.com.
Legal Notice Regarding Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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. 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 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 U.S. Securities & Exchange Commission. For a discussion of some of the risks and important factors that could affect the Company's future results and financial condition, see the Company's Form 10-Ks and 10-Qs on file with the U.S. Securities & Exchange Commission.