Strange volume on EFCR, Chart shows consolidation. May be looking at a PR in the next few weeks according to the most recent news.
Posted by E-Z on :
Up again today. Only 4%, but still.
Anyone thing it's time for this to turn around???
Posted by jdg257 on :
YES!
Posted by Gary59 on :
EFCR up 5.691 so far today,, and volume up a little , Wonder whats up
Posted by E-Z on :
Looking good so far!
Posted by indef on :
.0272 so far - volume is coming!
Posted by DmnCndn17 on :
leak maybe?
Posted by indef on :
lol Posted by DmnCndn17 on :
Chart looks like a bullpullback if you want to be technical.
Posted by E-Z on :
Did I miss some good news or something? I like!!!
Posted by tmanfromtexas on :
the prez and a vice prez resigned. Hell if that is all it takes to move the stock up i think everyone should quit. lol. TMAN...
Posted by Gary59 on :
Heres news from yesterday ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
Effective May 5, 2006, the Company and Firecreek Petroleum, Inc. accepted the resignation of Mr. William E. Merritt as the Executive Vice President of EGPI Firecreek, Inc. and Executive Vice President of Firecreek Petroleum, Inc., and as a director, officer, and committee member and all other positions held with these companies and their subsidiaries. Mr. Merritt has determined to explore other opportunities. Mr. Merritt's resignation letter did not reference a disagreement with the Company or any of its subsidiaries on any matter relating to the Company's or its subsidiaries' operations, policies and practices.
Effective May 8, 2006, the Company and Firecreek Petroleum, Inc. accepted the resignation of Mr. John R. Taylor as the President of EGPI Firecreek, Inc. and as the President and CEO of Firecreek Petroleum, Inc., and as director, officer, and committee member and all other positions held with these companies and their subsidiaries. Mr. Taylor is leaving the main stream for medical reasons. Upon his resignation, Mr. Taylor expressed his continued support of the Company and its subsidiaries and his belief that the Company is well positioned to become a very profitable oil company. Mr. Taylor's resignation letter did not reference a disagreement with the Company or any of its subsidiaries on any matter relating to the Company's or its subsidiaries' operations, policies and practices.
Both Mr. Taylor and Mr. Merritt have expressed that they shall be available to provide consulting and evaluation assistance on an ongoing basis for all of the Company's active domestic and overseas efforts and requirements in progress.
The Company is proud of the tremendous non stop efforts, strategic counsel, and hard work provided by Mr. Taylor and Mr. Merritt during their tenure with the Company
A copy of Mr. Merritt's resignation letter is filed herewith as Exhibit 17.1 and a copy of Mr. Taylor's resignation letter is filed herewith as Exhibit 17.2.
Posted by The Owl on :
Looks good.
Keep your eyes too on PMHH (oil services)- just won $8.6m. Few people know this stock, but search BB and you'll see exhaustive posts by ....well me really :-)
No one knows PMHH yet - but lots of news coming from late May through June (see news on the company re Mr Baer new CFO who will prove worth $2 - currently 37c!!)
Posted by TruthLiesWithin on :
Their severance package must have been nice...
I thought I read somewhere that this was something they were planning on doing and that some others who were running the company wanted to take the company to a different level...
Now I have to go read again....
I wonder if this frees up lots of liabilities?? You know, huge share payments, I don't know, but something must be up.
Posted by DmnCndn17 on :
Yeah, volume doesnt just double for no reason. There are no PR's out that would imply a monetary gain.
Posted by E-Z on :
So does the fact that Mr Taylor resigned have any impact on his own restricted shares?
quote:EGPI Firecreek, Inc. Retires $250,000 of Debt; President to Retire Debt into Restricted Common Shares Business Wire - November 28, 2005 7:00 AM (EDT)
SCOTTSDALE, Ariz., Nov 28, 2005 (BUSINESS WIRE) -- EGPI Firecreek, Inc. (OTCBB:EFCR) is pleased to announce the retirement of $250,000 worth of debt by the Company and its wholly owned subsidiary Firecreek Petroleum, Inc. John R. Taylor, Firecreek Petroleum's President and EGPI Firecreek's, Inc. boardmember has converted $250,000 of debt owed to him by the company into restricted common stock. Mr. Taylor agreed to convert the debt into restricted shares at a conversion price of ten cents ($0.10) per share. This represents a debt conversion rate at 100% above the current market bid price for stock that will be restricted under rule 144. Taylor stated, "Many times we are told that if we truly believe in what we are doing, the best way to prove it is by putting our money where our mouth is. I am literally in the trenches every day strategizing to develop and make this company a leader in the niche market of oil field rehabilitation on an international level, and know first hand the progress we are making. Furthermore, I believe the future of Firecreek is clearly dynamic with a tremendous potential for growth. The fact that I believe this to be a good move for me personally as well as a benefit to the Company's financial condition, makes this a clear win/win situation for everyone involved."
EGPI Firecreek, Inc., through its Firecreek unit, is focused on oil production with an emphasis on acquiring existing oil fields with proven reserves. Additionally, the company specializes in the rehabilitation of potentially high throughput oilfields, resource properties and inventories on an international basis.
For more information about EGPI Firecreek Inc. go to:
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; and (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's filings with the Securities and Exchange Commission.
SOURCE: EGPI Firecreek, Inc.
Firecreek Petroleum Inc. George "Bud" Faulder, 817-732-5949 (Shareholder Relations) bud*firecreek.us
Posted by TruthLiesWithin on :
That's interesting...
I am still digging around, but seriously, something is brewing.....
Posted by indef on :
time to cover shorting? ******************
Apr 28, 2006 (M2 PRESSWIRE via COMTEX) -- www.**********, announced today that these select companies have been added to the NASDAQ, AMEX and NYSE naked short threshold list: Travelzoo Inc (NASDAQ: TZOO), Vital Living Inc. (OTCBB: VTLV), Axia Group, Inc. (OTC: AXGJ), Bio Solutions Manufacturing, Inc. (OTCBB: BSLM), EGPI Firecreek, Inc. (OTCBB: EFCR), Intrepid Technology & Resource, Inc. (OTCBB: IESV). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.**********. ******** EGPI Firecreek, Inc. (OTCBB: EFCR) through its subsidiary, Firecreek, engages in the exploration, development, and exploitation of crude oil and natural gas. It focuses on the development of proved certain oil and gas projects located in Russia and Romania. The company, through its other subsidiary, International Yacht Sales Group, Ltd., engages in commercial and private leisure marine vessel sales brokerage, and charter business over the Internet. International Yacht Sales Group also develops e-commerce software, Secure Yacht Sales Server Software. EGPI Firecreek is headquartered in Scottsdale, Arizona. With 204.59 million shares outstanding and an undisclosed short position, there is a failure to deliver in shares of EFCR.
Posted by spetznazsmg on :
glad to see this up alittle!
Posted by DmnCndn17 on :
Indef where did you get that thread from?
[ May 11, 2006, 23:57: Message edited by: DmnCndn17 ]
Posted by DmnCndn17 on :
Yeah indef, that may be where the volume is coming from, people buying back their short positions....who knows, i prefer to think its a leak of some sort that says EGPI is going to give a dividend of 100,000.00 to all their shareholders!
Posted by DQ. on :
Hope it's a leak. Been holding a while.
Posted by TruthLiesWithin on :
I mentioned short lists to others and many snubbed their nose at it saying it is nothing but hype...
I get these alerts all the time through my Ameritrade account, but usually from third parties...
But a short squeeze can happen, so I don't know why people don't care about this... Most stocks now show the short positions, I know I like that info, time it right and bang!!!
Posted by indef on :
quote:Originally posted by DmnCndn17: Indef where did you get that thread from?
http www pinksheets com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cmt%5C2006%5C04%5C28%5 C78162828.html%26clientid%3D168%26provider%3DM2_COMMUNICATIONS&symbol=EFCR
Posted by DmnCndn17 on :
Well, doesnt matter at this point, all we know now is its going back up and thats all that matters to me!
Posted by Gary59 on :
not a single trade yet ,,,whats up ??
Posted by tmanfromtexas on :
We got one trade for 2500 at 0648. woohoo its a barn burner. lol. Man this stock needs to take off. It is time! TMAN...
Posted by Gary59 on :
My t&s does not show a single trade but my reg streamer does ,,,, oh well thats Scottrade for you
Posted by Gary59 on :
That was a whopping $66 bucks......Cant figure efcr out lately,, wondering if i need to get out or what here ....tired of watching nothing ...
Posted by DmnCndn17 on :
Im holding untill PR for the 5 oil wells comes out. Should be soon. Just depends on how long it takes them to set up and strike oil. For AMEP it took them from announcement of a site to striking oil exactly 2 months and 3 days as far as PR goes...So if we use the same timeline as AMEP for EFCR...We are looking at the 4th of July....LoL
Posted by tmanfromtexas on :
EFCR is now off the regsho list according to buyins. Time for this to show what its got. TMAN...
Posted by indef on :
climbing up .027 x .028
Posted by spetznazsmg on :
nice big block trade *12:48
Posted by tmanfromtexas on :
yep yep yep, It may turn out to be a pretty day for this one. TMAN...
Posted by spetznazsmg on :
volume hit a 500% increase since last trading day! came up on microfeed a few min ago
Posted by rocked on :
this stock is back, ready to go back to .15..in with 300k share.s. Posted by E-Z on :
WOW!!! Nice volume. This thing could hit .04 tomorrow!!!
What's everyone think???
Posted by rocked on :
MMS need to f off
Posted by rocked on :
shakerz needs to buy in on this..
Posted by tmanfromtexas on :
wtf!!! I dont understand this one. I guess I need to sell so it will go up. Thats the way to do it right? I seem to have a penchant for that. TMAN...
Posted by rocked on :
yea it's called ILLEGAL MANIPULATION BY MMs...i thought they got repremanded again about it..it's effin stupid
Posted by buckstalker on :
No chit...they are pulling this crap everywhere! I am pulling out of the penny market until the SEC gets a handle on this...
Posted by rocked on :
you knkow how we do this, we get shakerz and pumpers in on it, and just **** them all over.. so im ready when you are, im pushing big money in the pennies, its the only way i can make profit that i want, i move large shares, then wait..i need others to do the same, EFCR could run if we could sandbag the MMs..
Posted by DmnCndn17 on :
Wait for a PR, we'll blow them out of the water when PR comes from the 5 oil wells.
Posted by rocked on :
EFCR Lybia oil play ,volume picking up
Firecreek Petroleum, Inc. is headed by long-time Texas oil man John R. "Rick" Taylor. As President and Chief Executive Officer, Taylor focuses FPI on major international oil and gas field rehabilitation and development projects. Current projects under development include producing oil and gas fields in Ukraine, Romania, Libya http://www.energyproducersinc.net/
--------------
The United States is expected to restore diplomatic ties with and lift sanctions that have been in place for 25 years on trade with Libya sometime today-a move that opens a new substantial oil reserve to the US. Oil companies with operations in Libyan may see new interest.
U.S. to Renew Diplomatic Ties With Libya By GEORGE GEDDA , 05.15.2006, 10:52 AM
The Bush administration has decided to restore normal diplomatic relations with Libya for the first time in over a quarter century after taking Moammar Gadhafi's country off a U.S. list of state sponsors of terrorism, State Department officials said.
A formal announcement was expected Monday.
The administration's decision also comes at a time when it is attempting to shore up relations with major oil producers because of high prices and a shortage of supplies. Libya has substantial oil reserves. http://www.forbes.com/work/feeds/ap/...ap2746301.html
there's your PR Posted by rocked on :
anyone here wanna enlighten me is to what's goin on
Posted by tmanfromtexas on :
I cant rocked... The old thread talked about manipulation and it might be but who knows. on another topic, did you get any other enlightenment on pgpm besides the pr out tomorrow? TMAN...
Posted by tmanfromtexas on :
10q is out. TMAN...
Posted by spetznazsmg on :
that is a bunch of crap, I thought it was gonna blow then bamm ruined my day LOL
Posted by E-Z on :
WHOA!!! I leave my computer this afternoon and we're up 10% and looking good. I come back tonight and see this. Not at all what I was thinking I was going to see. Posted by TruthLiesWithin on :
Only 2 weeks worth of revenue listed?
yeah expenses,,,,,,,,but who doesn't have it these days..?
As long as the other interests kick in, were all right...
Posted by DmnCndn17 on :
EGPI/Firecreek Inc. Announces Second Gas Well On-Line in Wyoming; Both Wells in the Ten Mile Draw Project Are up and Producing
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 16, 2006--EGPI/Firecreek Inc. (OTCBB: EFCR) is pleased to announce the company's second gas well 7-16 located in the Ten Mile Draw gas field is on-line and producing. The company's chairman and chief financial officer, Dennis R. Alexander, stated, "This second well is one of many future steps in what we believe will bring a continued and positive revenue stream for the company."
Alexander also stated, "This marks the first time EGPI/Firecreek Inc. has had multiple wells producing natural gas at the same time. Significant time and hard work have gone into this initial process in order to be better prepared when we start the multiple 5 well drilling program, as previously announced. Additionally, EGPI/Firecreek is pleased to show that we have the working assets to support what we've been saying all along. Ultimately our goal is to continue to grow our revenue-producing asset base for every shareholder who has stood behind us with their patience and support."
Newport Oil Corp. President John Bruynell stated, "There is still more cleanup and testing to be done on well 7-16. Initial production flow continues to be favorable as the well cleans up." Newport Oil Corp. is the working partner of EGPI/Firecreek's drilling program for the Ten Mile Draw project in Wyoming. Bruynell is the director of operations and oversees all drilling operations and sites.
The state of Wyoming has been experiencing a sudden economic boom with the resurgence of gas exploration and drilling in its state. For more information on the dynamic growth currently being experienced by Wyoming, please see:
EGPI Firecreek Inc., through its Firecreek unit, is focused on oil and gas production with an emphasis on acquiring existing oil fields with proven reserves. Additionally, the company specializes in the rehabilitation of potentially high throughput oilfields, resource properties and inventories on an international basis.
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 Energy Producers 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 Energy Producers 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 Energy Producers' filings with the Securities and Exchange Commission.
CONTACT: For EGPI/Firecreek Joe Vazquez, 817-886-3297 info*egpifirecreek.net
SOURCE: EGPI/Firecreek Inc.
Posted by DmnCndn17 on :
We are up .0036 cents a share before open!
Posted by juice on :
The state of Wyoming has been experiencing a sudden economic boom with the resurgence of gas exploration and drilling in its state. For more information on the dynamic growth currently being experienced by Wyoming, please see:
This is not only good for EFCR, but WBRS as well!! I have shares in both, just a matter of time IMO!! Note: WBRS up 33% yesterday on high buying pressure volume! I'm hoping EFCR will follow! Good luck everyone!
Posted by DmnCndn17 on :
Volume is bumping up the ask
Posted by J_U_ICE on :
EFCR - NEWS - More GAS REV's ...
EGPI/Firecreek Inc. Announces Second Gas Well On-Line in Wyoming; Both Wells in the Ten Mile Draw Project Are up and Producing
SCOTTSDALE, Ariz., May 16, 2006 (BUSINESS WIRE) -- EGPI/Firecreek Inc. (OTCBB: EFCR) is pleased to announce the company's second gas well 7-16 located in the Ten Mile Draw gas field is on-line and producing. The company's chairman and chief financial officer, Dennis R. Alexander, stated, "This second well is one of many future steps in what we believe will bring a continued and positive revenue stream for the company." Alexander also stated, "This marks the first time EGPI/Firecreek Inc. has had multiple wells producing natural gas at the same time. Significant time and hard work have gone into this initial process in order to be better prepared when we start the multiple 5 well drilling program, as previously announced. Additionally, EGPI/Firecreek is pleased to show that we have the working assets to support what we've been saying all along. Ultimately our goal is to continue to grow our revenue-producing asset base for every shareholder who has stood behind us with their patience and support."
Newport Oil Corp. President John Bruynell stated, "There is still more cleanup and testing to be done on well 7-16. Initial production flow continues to be favorable as the well cleans up." Newport Oil Corp. is the working partner of EGPI/Firecreek's drilling program for the Ten Mile Draw project in Wyoming. Bruynell is the director of operations and oversees all drilling operations and sites.
The state of Wyoming has been experiencing a sudden economic boom with the resurgence of gas exploration and drilling in its state. For more information on the dynamic growth currently being experienced by Wyoming, please see:
Posted by DmnCndn17 on :
Juice its already been posted...
Posted by Hold-em-er-fold-em on :
She is gapping up nice this morning!
Posted by jdg257 on :
gapper
Posted by E-Z on :
I'm still very disappointed with yesterdays trading.
Lets see if this PR can build and hold.
Posted by optimizer_78 on :
this can run like AMEP to 10 cents+
Posted by DmnCndn17 on :
anyone have L2s?
Posted by DmnCndn17 on :
wow, guess people just arent interested in oil penny stocks today.
Posted by tmanfromtexas on :
Second well on line in Wyoming...news out. TMAN...
Posted by DmnCndn17 on :
We are just lacking volume, this thing wants to fly.
Posted by tmanfromtexas on :
With this new well online common sense tells you they just doubled their income from this field. Oh well, folks can get in higher if thats what they want to do. lol. TMAN...
Posted by E-Z on :
Unbelievable!!! Posted by Hold-em-er-fold-em on :
WOW!
They are just beating the CHIT out of this one!
Posted by juice on :
man this one hurts got out today for a measely 70 bucks gain lol... no longer will i hold my cash in here. Im sure one day it will move and ill say great job guys:) but i feel like it is very manipulative...
Posted by DmnCndn17 on :
Im holding on, definately longer than i wanted to though. This one HAS to go up. Look at the news!
Posted by E-Z on :
I just don't get it.
"Hey, we have more oil to bring in more money!!! Watch our stock tank!"
Posted by tmanfromtexas on :
LOL ez. I will post as soon as I sell. That will be the sign for all of you to go all in on this one. lol. TMAN...
Posted by DmnCndn17 on :
lol right yeah go ahead and get out Tman!
Posted by DmnCndn17 on :
lol right yeah go ahead and get out Tman!
Posted by tmanfromtexas on :
Dang DMn, you must really want me out you double posted on me. LOL. Just playin... We will have our day. I just dont know what day that is yet. TMAN...
Posted by optimizer_78 on :
bottom here..float only 110m out of os 256m..undervalued can run to 15-20c
Posted by maumee river rat on :
Need to close above 025... Easy double from there.. Resistance at 05+...then around 8.. Chart looks explosive to me..
Posted by E-Z on :
Well, a close of .024, up 4%
Kind of disappointing considering the news.
I've been waiting for this thing to pop too. The chart does and has looked nice!
Just wait for the ride I guess.
Posted by DmnCndn17 on :
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION OVERVIEW
You should read the following discussion and analysis in conjunction with the Consolidated Financial Statements in Form 10-KSB, Form 10-QSB and Notes thereto, and the other financial data appearing elsewhere in this Form 10QSB Report.
The information set forth in Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, among others (i) expected changes in the Company's revenues and profitability, (ii) prospective business opportunities and (iii) the Company's strategy for financing its business. Forward-looking statements are statements other than historical information or statements of current condition. Some forward-looking statements may be identified by use of terms such as "believes", "anticipates", "intends" or "expects". These forward-looking statements relate to the plans, objectives and expectations of the Company for future operations. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, in light of the risks and uncertainties inherent in all future projections, the inclusion of forward-looking statements in this report should not be regarded as a representation by the Company or any other person that the objectives or plans of the Company will be achieved.
In light of these risks and uncertainties, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The foregoing review of important factors should not be construed as exhaustive. The Company undertakes no obligation to release publicly the results of any future revisions it may make to forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Company is currently focused on oil and gas activities in the following areas: i) Development of our domestic interests acquired initially in Wyoming for production of oil and primarily natural gas, and ii) pursuit of and potential completion of projects overseas in Central Asian and European countries; and further, the Company has been making presentations to asset-based lenders and other financial institutions for the purpose of expanding and supporting our growth potential by development of our oil and gas operations in 2006 with a goal to increase sales output of our Firecreek unit.
One of our ways our plans for growth could be altered if current opportunities now available become unavailable:
The Company would need to identify, locate, or address replacing current potential acquisition or strategic alliances with new prospects or initiate other existing available projects that may have been planned for later stages of growth and the Company may therefore not be ready to activate. This process can place a strain on the Company. New acquisitions, business opportunities, and alliances, take time for review, analysis, inspections and negotiations. The time taken in the review activities, is an unknown factor, including the business structuring of the project and related specific due diligence factors.
GENERAL
The Company historically derived its revenues primarily from retail sales of oil and gas field inventory equipment, service, and supply items primarily in the southern Arkansas area, from acquired interests owned in revenue producing oil wells, leases, and equipment located in Olney, Young County, Texas, and in December 2003, from our acquisition of commercial and private leisure marine vessel sales brokerage and charter business,
International Yacht Sales Group, Ltd. Of Great Britain. The Company disposed of the first two segments of operations in 2003 and disposed of the third segment in 2005. We accounted for the segments as discontinued operations in the consolidated statements of operations for the related fiscal year.
Effective July 1, 2004 we acquired Firecreek Petroleum, Inc., and its subsidiary Firecreek Romania, SRL. Firecreek is an international oil exploration and development company specializing in the niche market of rehabilitation and enhancement of existing oilfields through modern management and state of the art technological applications. Management individually has many years of experience and has one or more collectively been involved in oil and gas operations worldwide. Throughout 204 and 2005, through the Firecreek Petroleum unit, we have i) developed relationships and prepared for potential acquisitions in Romania and Libya, and ii) through our alliance with Sahara, we have developed additional potential projects for acquisition that are located in Russia, Romania, Kazakhstan, Ukraine, and Turkey (see additional information in section on "The Business" in Form 10-KSB for the fiscal year ended 2005 filed on April 14, 2006, and incorporated herein by reference).
Effective November 15, 2005, Firecreek Petroleum purchased a 50% undivided interest in leases, wells, equipment, gas and to a lesser extent oil reserves, and other rights, located in Sweetwater County, Wyoming. The project is listed under the prospect name "Ten Mile Draw" ("TMD"). We have commenced with gas production and are contemplating additional drilling and workover programs. For further information see the section on "The Business" in Form 10-KSB for the fiscal year ended 2005 filed on April 14, 2006, and incorporated herein by reference.
The Company expects to incur an increase in operating expenses during the next year from commencing the described activities related to its plans for Firecreek Petroleum oil and gas operations. The amount of net losses and the time required for the Company to reach and maintain profitability are uncertain at this time. There is a likelihood that the Company will encounter difficulties and delays encountered with business subsidiary operations, including, but not limited to uncertainty as to development and the time and timing required for the Company's plans to be fully implemented, governmental regulatory responses to the Company's plans, fluctuating markets and corresponding spikes, or dips in our products' demand, currency exchange rates between countries, acquisition and development pricing, related costs, expenses, offsets, increases and adjustments. There can be no assurance that the Company will ever generate significant revenues or achieve profitability at all or on any substantial basis.
On December 31, 2003 through our exchange merger acquisition with International Group Holdings, Ltd., as amended, a commercial and private leisure marine vessel sales brokerage and charter business, International Yacht Sales Group, Ltd. of Great Britain ("IYSG") and all of its divisions, as a wholly owned subsidiary of the Company. Divisions of IYSG include but are not limited to International Yacht Sales Brokerage and Charter ("IYSBC"), Emedia8 ("E8"), International Marine Services ("IMS"), International World Realty ("IWR"), International Boat Sales ("IBS"), and International Commercial Shipping ("ICS").
At December 1, 2004, management elected to impair the book value of its long-lived assets since estimates of future cash flows attributable to these assets could not be assured. Consequently, management recognized $1,344,617 impairment expense in the consolidated statement of operations.
On December 31, 2005 the majority of the Board of Directors of the Company elected to dispose of its wholly owned subsidiary, International Yacht Sales Group, Ltd. (IYSG) of United Kingdom. The results of operations for these segments are included in "loss from discontinued operations" in the consolidated statements of operations for fiscal 2005.
General Statement: Factors that may affect future results:
With the exception of historical information, the matters discussed in Management's Discussion and Analysis of Financial Condition and Results of Operations contain forward looking statements under the 1995 Private Securities Litigation Reform Act that involve various risks and uncertainties. Typically, these statements are indicated by words such as "anticipates", "expects", "believes", "plans", "could", and similar words and phrases. Factors that could cause the company's actual results to differ materially from management's projections, forecasts, estimates and expectations include but are not limited to the following:
~ Inability of the company to secure additional financing.
~ Unexpected economic changes in the United States.
~ The imposition of new restrictions or regulations by government agencies that affect the Company's business activities.
To the extent possible, the following discussion will highlight the Company's business activities for the quarters ended March 31, 2006 and March 31, 2005.
I. RESULTS OF OPERATIONS
THREE MONTHS ENDED MARCH 31, 2006 VS. THREE MONTHS ENDED MARCH 31, 2005.
There was $7,980 in revenues generated from the Company's gas lease production activities ramping up in the last two weeks in March 2006 for Q1 2006 compared to no revenues in Q1 2005. Revenues commenced mid March 2006 from the first of two workover wells completed and on production in the Ten Mile Draw project in southern Wyoming. Operating costs of $ 6,647 produced a net profit of $1,333. Of the operating costs, $4,849.95 thereof is a non recurring expense.
General and administrative expense for Q1 2006 increased to $466,683 compared to $339,907 in Q1 2005, an increase of 27%. Most of the increase was due to travel and research into possible new business ventures.
--------------- ------------- Total $466,683 $339,907 =============== =============
Consulting fees of $62,625 were incurred during investigations into acquiring profitable business enterprises.
Professional fees of $100,910 were incurred in regards to legal costs, accounting, securing financing, and the acquisition of leads and contacts with regard to possible new business ventures.
Payroll and taxes of $108,302 was used for Firecreek Petroleum operations.
Rent and Utilities of $25,010 was used for office lease expenses in Fort Worth, Texas for the Firecreek Petroleum operations.
Travel costs of $31,295 were in connection with signing of agreements, negotiating contracts and arranging potential financing for potential projects in Wyoming, other areas domestically, and in Ukraine, and other overseas countries.
After deducting general and administrative costs, the Company experienced a loss from operations of $465,350 for the three months ended March 31, 2006 compared to an operating loss of $339,907 for the same period last year.
Interest expense increased in the three months ended March 31, 2006 to $303,370 compared to $17,161 for the same period last year. Most of the increases in interest is due to the increased borrowing in the last quarter of 2005.
Consulting and professional fees increased approximately $75,186 in Q1 2006 compared to Q1 2005.
Net loss for Q1 2006 was $768,720, or $0.04 per share compared to a loss of $357,068, or $0.00 per share for Q1 2005.
DISCUSSION OF FINANCIAL CONDITION: LIQUIDITY AND CAPITAL RESOURCES
At March 31, 2006 cash on hand was $1,541 as compared with $149,962 at December 31, 2005. During the period the Company paid $5,555 to shareholders.
At March 31, 2006, the Company had working capital deficit of $3,570,751 compared to a working capital deficit of $3,357,901 at December 31, 2005. Working capital decreased mainly as a result of operating losses.
Total assets at March 31, 2006 were $696,481 as compared to $850,580 at December 31, 2005.
The Company's total stockholders' deficit decreased $1,223,707 from December 31, 2005 to $3,224,903 at March 31, 2006. Stockholders' equity decreased by $768,720 from operating losses in Q1 2006. In addition, the Company issued 13,009,850 shares of common stock valued at $348,020 as payment against a line of credit and preferred C stock was converted to 20,250,000 shares of common stock.
Posted by maumee river rat on :
Nice bump!!!
Posted by P Rowds on :
more news out... but i dunno why because it simply states the same thing as yesterday. but i'll post it.......
EGPI/Firecreek Inc reports second gas well on-line and producing in Wyoming
May 17, 2006 (M2 EQUITYBITES via COMTEX) -- Oil and gas company EGPI/Firecreek Inc (OTCBB:EFCR) said on 16 May that its second gas well 7-16 located in the Ten Mile Draw gas field in Wyoming is on-line and producing. This means that both wells in the Ten Mile Draw project are now up and producing.
The move marks the first time that EGPI/Firecreek has had multiple wells producing natural gas at the same time, according to the company's chairman and chief financial officer, Dennis R. Alexander.
Posted by DmnCndn17 on :
They probobly are pissed their stock didnt go up lol.
Posted by E-Z on :
Not only are they pissed, But I'm pissed too!!!!
quote:Originally posted by DmnCndn17: They probobly are pissed their stock didnt go up lol.
Posted by maumee river rat on :
No Jazz left in this one I Guess
Posted by rocked on :
im out, f this manipulation bullshi5
Posted by E-Z on :
I said before that I'll play through summer, and that's what I plan to do.
Good news and it goes down just doesn't make sense to me.
I think this has easily double in it, and I don't think quadruple is out of reach.
If it goes below .02 I'll rethink it, but I don't think that's going to happen.
Posted by vinnie1 on :
pbls
Posted by cactus33 on :
be careful with this one EZ... I could be wrong, but i have a bad feeling about this one.
Posted by tmanfromtexas on :
I am about to cut and run too. I had hopes for this but alas it may not be meant to be. TMAN...
Posted by BuyTex on :
quote:Originally posted by cactus33: be careful with this one EZ... I could be wrong, but i have a bad feeling about this one.
I played it, and watched NITE absorb millions of shares on the ask, without budging...so I bailed with a teensy
Posted by E-Z on :
Oh man, you all are going to leave me??? Even Tman? Posted by spetznazsmg on :
E-Z i`m still in this one!
Posted by E-Z on :
With people bailing I'm wondering if I missed some recent negative news??? But I can't find any.
Posted by DmnCndn17 on :
Im staying EZ
Posted by DmnCndn17 on :
has anyone tried calling them?
Posted by tmanfromtexas on :
With Nite sucking the shares up what do you think the reason is BuyTex? Prepping for a run or just trying to kill the company? TMAN...
Posted by maumee river rat on :
What is oil a barrel today....
When the turbin tops deside to run it to 75 or 80 bucks...... which won't be long from now in my opinion.... it will run.. I also think this B.S. with Libia is giving the market a false sense security...
Posted by E-Z on :
I thought it would be prepping for a run, but I thought it would have run by now???
Oh well, I'm staying in. If it drops below .02 I'll reconsider. Either buy more and wait, or sell all for a loss and try to make it up somewhere else.
quote:Originally posted by tmanfromtexas: With Nite sucking the shares up what do you think the reason is BuyTex? Prepping for a run or just trying to kill the company? TMAN...
Posted by DmnCndn17 on :
I hear you rat, with wisconsin companies selling oil at around 35 a barrel, you would think they would be destroying the market.
Posted by E-Z on :
Anyone know what's happening with this morning?
Unfortunately it's looking like I might have to reconsider this one. Posted by DmnCndn17 on :
Yeah this is starting to piss me off.... .2!?!?!
Posted by E-Z on :
It traded very weird today. Down 13%, then up a little, then back down for the end of the day. That was on half way decent volume too.
Looking at the chart looks like it's at the 52 week low. Part of me wants to get out while I'm still alive. The other part of me wants to buy more.
Oh decisions, decisions......
Posted by cactus33 on :
EZ, i came thru saying i had a bad feeling and that was at .025.. just be careful.. look at their financials and the debt they have with all these strange foreign places.. the investor debt ratio is thru the roof.. management is resigning.. hopefully not to escape..
i dont know.. i hope im wrong, i had my hunch before.. just tread lightly EZ.. i have the same opinion with papo.. financials were a joke.. and the bottom dropped out..btw.. I lost money on both stocks.. when i sold.. but would of lost a lot more holding
GLTY
Posted by tmanfromtexas on :
Thanks Cactus. I wish I had listened to you then. I am starting to think this had its run already. lol. Lets see what tomorrow holds. If its anything like today, tomorrow can hold this because I wont be. TMAN...
Posted by cactus33 on :
good luck tman.. i really hope im wrong and this goes up for you guys..
Posted by cactus33 on :
try omog for an oil and gas potential.. not trying to pump.. just think that it has a chance to go to .03.. ive been long on that for a while..
GLTY
Posted by E-Z on :
Good points cactus.
I've decided to hold for today.
Wish me luck. LOL
Posted by DQ. on :
I'm going to hold. Have to much in it. Going to ride it out or have one big bag.
Posted by E-Z on :
Well, american bulls posted a sell confirmed.
Lets hope they're wrong DQ.
Posted by DmnCndn17 on :
Thats funny, we are actually up 5% lol
Posted by E-Z on :
YeeHaa!!! I survived another day!!! LOL
errr..... I still can't decide what I want to do with this.
Posted by tmanfromtexas on :
I bailed. TMAN...
Posted by DmnCndn17 on :
LoL Tman forgive me but remember what we talked about earlier? The stock will probobly drop tomorrow, it only went up today cause TMAN got out lol.
Posted by E-Z on :
OK Tman, we're counting on you. You said when you get out the stock will go up!
I'm ready!!!
Posted by maumee river rat on :
If it doesn't, I'm gunna have to join him on the sidelines....this f#ccker is startin to ferment....peewwwwwww
Posted by E-Z on :
I was reading on another forum (sorry I can't remember which one), but someone called and talked to them on the 16th.
At that time, they said they would be releasing some numbers within 30 days.
Has anyone here called and talked to them? I would like to call, but I don't think my boss would be too happy if he heard me on the phone. LOL
Posted by maumee river rat on :
this is toast.....
bu-bye now!!!
Posted by E-Z on :
Thanks Rat!
Up we go!
Posted by maumee river rat on :
Hate to tell ya but...I didn't get out yet...lol
down we go???
Posted by tmanfromtexas on :
Your all welcome. TMAN...
Posted by maumee river rat on :
I still think I might join ya on the side Tman. The charts just don't have that warm and fuzzy look to um. Ya know what I'm sayen??
Posted by DmnCndn17 on :
Financial news out.
Posted by indef on :
able to find only from 5/15/2006... you're talking about more recent fillings, are you? link, pls....
Posted by E-Z on :
Yeah, where is the news???
I know I saw on another board on May 16th that flow-rates were supposed to be available within 30 days, so I'm giving it til mid June. If it's not good, I'm out. Hopefully my head will still be above water at that time.
Posted by DmnCndn17 on :
![[Wink]](wink.gif)
![[Frown]](frown.gif)
![[Mad]](mad.gif)
![[Roll Eyes]](rolleyes.gif)
![[Confused]](confused.gif)