SCOTTSDALE, Ariz.–(BUSINESS WIRE)–EGPI/Firecreek, Inc. (OTCBB: EFIR) Dennis R. Alexander, CEO, announced today the receipt of an independent reserve report regarding the Company’s previously announced LOI for the acquisition of a West Texas oil and gas rehabilitation and development project located in Haskell, Shackelford and Jones counties, Texas.

Under the LOI, EGPI/Firecreek and Templar PetroConsultants (Templar) are to become joint venture partners with Templar to be the Operator and minority partner.

As previously reported, there are 38 existing wells on the property, 14 of which are currently producing with 24 additional shut-in wells that can be brought back into production through rehabilitation and repair. There are also over 50 proved undeveloped or inside locations to be drilled to proved producing formations with four or more identified formations behind the pipe available for future development.

Operators have identified 12 wells for an initial rehabilitation program.

The independent reserve Report from Lee Engineering of Midland estimates recoverable reserves of 400,000 Barrels of Oil from the main zones (Cook, Bluff Creek, King, and Tannehill), including reserves behind pipe (PDNP), and proven undeveloped offset drill-sites to the present wells (PUD) or in field. The report did not include the possible reserves in deeper formations.

As part of the acquisition and initial rehabilitation program, EGPI Firecreek and Templar anticipate an initial six well drilling program to shallow depths ranging from 1700′ to 2300′. Following the initial rehabilitation program, an additional multi well program to drill 18 to 20 new wells on proved inside locations adjacent to the producing formations is contemplated. Projections estimate 30 Bbl oil for each successfully completed well. Based on a successful rehabilitation and drilling program, the Company estimates production to reach 80-100 barrels per day and to grow to over 500 barrels of oil per day when the fields are fully developed.

EGPI Firecreek, Inc. continues to review potential leases, interests and opportunities located throughout the U.S. and surrounding regions. The Company is currently working on traditional finance opportunities for funding project acquisitions and the capital expenditure requirements for each.

About EGPI Firecreek, Inc.

EGPI/Firecreek Inc. is focused on oil production with an emphasis on acquiring existing oil fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories. Other companies in the oil sector include, Pantina Oil and Gas Inc. (POG), Frontier Oil Inc. (FTO), Exxon (XON) and Cabot Oil & Gas Inc. (COG).

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.

Contact:

Infinity Consulting Group, Inc.
Mr. Joseph Vazquez, 754-204-4549
or
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Stuart T. Smith, 512-267-2430
Info@smallcapvoice.com

Source: EGPI/Firecreek, Inc.

Wall Street fell sharply early Friday. The Dow Jones industrials hit new six-year lows with investors worldwide selling on pessimism about the global economy. The Dow tumbled about 100 points in morning trading, a day after closing at its lowest level since Oct. 9, 2002.

Energy prices rose 1.7 percent in January, the first increase following five months of big declines. The advance was led by a 6 percent jump in gasoline prices. Even with that gain, prices at the pump are still more than 40 percent below year-ago levels.

Most economists believe consumers will not be battered again this year by soaring energy costs since global demand has fallen sharply in the face of a worldwide recession.

The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose above $1,000 an ounce.

Yesterday’s Top Performing SmallCapVoice.com stock:

EGPI Firecreek, Inc. (OTC BB: EFIR) was a SmallCapVoice.com top performer moving up over 131% on trading volume of 14,050 shares.

EGPI Firecreek, Inc. announced that as part of its restructuring efforts initiated in late December 2008, has a signed a Letter of Intent with Templar PetroConsultants (“Templar”) to acquire, rehabilitate, and develop West Texas Oil and Gas projects, with wells and field operations in Haskell, Shackelford and Jones counties, Texas.

Templar will be the proposed Operators and minority partners. There are presently 38 wells, 14 of which are producing, with 24 shut-in wells that can be brought back into production. There are over 50 proved undeveloped or inside locations to be drilled to the existing proved producing formations with four or more identified formations behind the pipe for future development.

Today’s SmallCapVoice.com Hot Stock to Watch:

Atlantic Energy Solutions, Inc. (OTC BB: AESO)

Atlantic Energy Solutions, Inc. is looking forward to its role with the stimulus bill, which is also known as the Economic Recovery and Reinvestment Act of 2009 as it contains a significant amount of money being allocated for increased energy efficiency and green technologies.

Atlantic Energy Solutions, Inc. recently announced that a Southern New York State School District has received state approval to begin its contracted energy efficiency project with the company. The project is now underway, and Atlantic Energy will complete it in record time. With more than a decade of experience “greening” commercial buildings, including schools, school campuses, and municipalities; Atlantic Energy has compiled an impressive green platform in the energy industry.

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http://www.smallcapvoice.com

EGPI Firecreek, Inc. (OTCBB: EFIR) is pleased to announce today that as part of its restructuring efforts initiated in late December 2008, has a signed a Letter of Intent with Templar PetroConsultants (“Templar”) to acquire, rehabilitate, and develop West Texas Oil and Gas projects, with wells and field operations in Haskell, Shackelford and Jones counties, Texas.

Templar will be the proposed Operators and minority partners. There are presently 38 wells, 14 of which are producing, with 24 shut-in wells that can be brought back into production. There are over 50 proved undeveloped or inside locations to be drilled to the existing proved producing formations with four or more identified formations behind the pipe for future development.

In addition to the initial acquisition costs and proposed operations; operators have identified 12 wells for an initial rehabilitation program. Based on field review and discussions with lease management, the cost of rehabilitating these wells is estimated to be approximately $300,000.

Based upon the success of its repair, service and rehabilitation program, it is anticipated that operators will propose a CAPEX budget for a development drilling program that will drill between 18 to 20 new wells on proved inside locations adjacent to the producing formations. These wells shall be drilled in 5 well increments. Concurrently, it is envisioned that operations will perform various 3D seismic surveys over selected portions of leased acreage to identify potential producing formations such as the Palo Pinto Lime, Conglomerates, Mississippi or Pennsylvania Reefs and the Ellenburger.

Dennis Alexander, EGPI’s Chairman and CEO, stated, “The economic climate presents many vigorous growth opportunities for those who can build upon a new infrastructure. We look forward to paving the way by establishing new growth, assets and revenues for the Company through our ongoing pursuit for new oil producing properties. We also look forward to securing opportunities similar to this current project. We are excited about the potential this acquisition represents and potential for the development of cash flow and revenue streams with a view towards new growth in 2009.” He also stated, “The significant pullback of crude oil prices has created a number of very attractive opportunities.”

EGPI Firecreek, Inc. continues to review for potential leases, interests and opportunities which are located throughout the U.S. and its surrounding regions. The Company is currently working on traditional finance opportunities in the funding of potential project acquisitions and the respective capital expenditure requirements for each.

About EGPI Firecreek, Inc.

EGPI Firecreek, Inc. is focused on oil production with an emphasis on acquiring existing oil fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories. Other companies in the oil sector include, Pantina Oil and Gas Inc. (POG), Frontier Oil Inc. (FTO), Exxon (XON) and Cabot Oil & Gas Inc. (COG).

Forward-Looking Statements

This press release contains certain statements that may include ‘forward-looking statements’ within the meaning of federal securities laws. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Infinity Consulting Group, Inc. for EGPI Firecreek, Inc.
Mr. Joseph Vazquez, 754-204-4549

Dennis Alexander stated, “We are looking forward to the aggressive acquisition of quality properties throughout 2009 and beyond.”

SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its client’s financial news releases. SmallCapVoice.com also offers individual investors with all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit http://www.smallcapvoice.com/services.html.

Forward-Looking Statements

This press release contains certain statements that may include ‘forward-looking statements’ within the meaning of federal securities laws. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

SmallCapVoice.com, Inc.
Stuart T. Smith, 512-267-2430
Info@smallcapvoice.com