EGPI Firecreek Acquires Chanwest Resources, Targets Abilene, TX, For Rehab Opportunities

Acquired privately held service co. with operations in TX, LA.

EGPI Firecreek Inc., Scottsdale, Ariz., (OTCBB: EFIR) has acquired service company Chanwest Resources Inc. for an undisclosed cost.

Chanwest, which serves the northwest Louisiana and East Texas region, will become a wholly owned subsidiary of EGPI.

The acquisition complements EGPI's oil and gas division, adding assets and services used for hauling equipment, delivery and spreading of rock, iron ore, dirt and gravel used in lease roads, firewalls, tank pads and drill sites. Chanwest also provides dig pits for drill mud and for drill site preparation to clear and lay pipeline for operators; maintains lease roads; sets power poles; cleans up oilfield spills; and owns a rig with available crewing.

Chanwest will work with EGPI's Energy Producers Inc. subsidiary to evaluate acquisition and development strategies for its oil and gas operations, initially working towards rehabilitation targets in the Abilene, Texas, area.

Chanwest expects to record approximately US$2 million in gross revenues from operations over the next year.