SCOTTSDALE, Ariz., Dec. 1, 2011 /PRNewswire/ -- EGPI Firecreek, Inc.
(OTCBB: EFIR) announced today they have received confirmation from
Success Oil and their contracting sources that the fracing
procedures for the first of their two West Texas oil wells will immediately begin
this weekend.
The first procedure slated to begin on Sunday December 4th will start with the Crawar #2
well on the J.B. Tubb lease. The fracing process will penetrate the
lower clearfork reservoir from the well which has a geological
composite of dolomite. Dolomite is a very hard and course material
which must be frac'd in order to extract commercial quantities of
hydrocarbons and natural gas. Because the Crawar #2 well has never
been frac'd, the company anticipates excellent results from the
implementation of this procedure.
Fracing (pronounced FRACK-ing) is a term for a fracturing
process which is a method of stimulating oil production by opening
new flow channels in the formation surrounding a production well.
Under extremely high hydraulic pressure frac fluids, in this case
100,000 gallons of water and 1,000 gallons of 15% hydrochloric
acid, will be pumped downward through production tubing or drill
pipe and forced out below a packer or between two packers. The
pressure causes cracks to open in the formation, and the fluid
penetrates the formation through the cracks. 100,000 pounds of
16/30 grade sand and 20,000 pounds of 16/30 Hexion SiberProp
curable resin coated sand grains (propping agents) will be carried
in suspension by the fluid into the cracks. When the pressure is
released at the surface, the fracturing fluid will return to the
well and leave behind the propping agents which will hold open the
formation cracks and theoretically help to increase oil and natural
gas production. Normally an increase in production will be
noticeable within the first 30 days of the fracing procedure.
As previously announced, EGPI Firecreek, Inc. recently completed
a traditional oil industry based debt financing arrangement amongst
the partners in order to raise close to $500,000. These monies have been slated
specifically for the fracing of two oil and gas wells which the
company believes will benefit the most from increases of oil and
gas production.
About EGPI Firecreek, Inc.
EGPI Firecreek, Inc.'s business and acquisition strategy is
focused on producing oil and gas. The Company puts emphasis on
acquiring existing fields with proven reserves or by the
rehabilitation of oilfields with potentially high throughput.
Through its wholly owned subsidiary Energy Producers, Inc., it
acquires resource properties and inventories. Through its wholly
owned subsidiary Chanwest Resources, LLC it operates as an oil and
gas service business. EGPI Firecreek, Inc. is also planning
to expand into producing energy through alternative energy sources
through their recently acquired Arctic Solar Engineering
subsidiary.
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 EGPI 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.
CAUTIONARY NOTE TO UNITED
STATES INVESTORS
The United States Securities and Exchange
Commission permits oil and gas companies, in
their filings with the SEC, to disclose only proved reserves
that a company has demonstrated by actual production or conclusive
formation tests to be economically and legally producible
under existing economic and operating conditions. We use
certain terms, such as prospective resource or
Original Oil in Place (OOIP) or Petroleum Initially In
Place (PIIP), that the SEC's guidelines strictly prohibit us
from including in filings with the SEC. U.S. Investors are
urged to consider closely the disclosure in our Form 10K.
Additional information may be found at the following web
site: http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm
Public Relations and Shareholder Information
Joe Vazquez, 754-204-4549
infinityglobalconsulting@gmail.com
SOURCE EGPI Firecreek, Inc.