January 5, 2010 (FinancialWire) — EGPI Firecreek, Inc. (OTCBB: EFIR) has completed its acquisition of a three-well turn-key work program with Whitt Oil and Gas, Inc. (Whitt). The project consists of three proved existing wells, additional associated lease acreage and equipment.

As previously reported, this well program consists of three wells located on 240 Acres located in Shackelford, Callahan, and Stephens counties, West Central Texas. The program also includes associated acreage, equipment and the drilling rights for four more wells. Whitt Oil and Gas, Inc. will act as operator for the company’s interests and will commence with the deployment of various work programs to rehabilitate the wells early this week in order to restore online production as soon as possible.

Whitt operations will commence rehabilitation and enhancement programs which generally will include well repairs followed by frac treatment for each of the wells, namely: McWhorter No. 1 Well with perforations in the Bend Conglomerate Formation at 4,060 to 4,068 feet; Young No. 3 Well to produce at 2,530 feet depth in the Palo Pinto Lime; Boyett Well, to produce in the Caddo Lime at approximately 3,400 feet.

The acquisition calls for a 50% working interest and participation in the rehabilitation of three (3) existing wells on a turnkey basis, with first rights for future drilling of up to four (4) Barnett Shale wells on the lease acreage for the company. The three existing wells are proved, and as previously reported; evaluations show that there are other potential oil producing formations in each of these wells.

Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). Recently issued reports and filings include Weatherford International Ltd. (NYSE: WFT), UQM Technologies, Inc. (AMEX: UQM), Panhandle Oil and Gas, Inc. (NYSE: PHX), Encore acquisition Company (NYSE: EAC), Altius Minerals Corp. (TSX: ALS), PKC Group Oyj (PLUS: PKC1V) and Standard Life Investments European Private Equity Trust PLC (LSE: SEP) (PLUS: SEP).

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