Austin, TX 10/24/2007 10:00:21 PM
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EGPI Firecreek Inc (OTC BB: EFCR)
EGPI/Firecreek, Inc. Signs MOU with Success Oil Co. for Majority Interests in West Texas Oil Program (Deal to Acquire 75% Working Interests J.B. Tubb/AMOCO Crawar Property North 40 Acre Initial Two Well Reentry Program)
SCOTTSDALE, Ariz., Oct 24, 2007 EGPI/Firecreek, Inc. and its wholly owned subsidiary, Firecreek Petroleum, Inc. announced today that it has signed an MOU to acquire 75% working interest in Success Oil Co's J.B. Tubb/Amoco Crawar Property, North 40 Acres. This includes an initial two well reentry program for oil and gas.
The J.B. Tubb/Amoco Crawar oil and gas property is located in the Permian Basin, Crawar Field in Ward County, West Texas (12 miles west of Monahans & 30 miles west of Odessa).
The proposed acquisition and corresponding work program includes reentry into two wells in the Upper Clearfork formation (from 4200-4400 feet), and Lower Clearfork formation (from 4550-4750 feet) for the production of oil and gas.
This property is located in and is a part of the Crawar Field, already considered one of the most prolific fields in the United States. Several major oil companies already have projects in this large field. Total present Crawar field statistics show overall production of 500,000 barrels of oil and 4.6 BCF of gas per month respectively.
EGPI/Firecreek, Inc. and Success Oil Co., Inc. are moving ahead with the provisions set forth in the MOU and expect to close within 30 to 60 days.
Dennis Alexander, the Company's Chairman and CFO, stated, "We are excited about the potential asset acquisition for the J.B. Tubb interests and corresponding work programs in the Crawar Field with Success Oil Co. as both operator and part owner. We believe the proposed acquisition presents a strong opportunity to address our continued efforts to build on asset accumulation, oil and gas revenues and cash flow." Additionally, Success Oil Company is presently reviewing a West Texas based oil and gas property which currently produces $106,000 net cash flow per month and has an additional 46 drilling locations for new wells to potentially be acquired by EGPI Firecreek, Inc.
EGPI Firecreek, Inc. continues review for potential leases, interests and opportunities which are located throughout the U.S. and its surrounding regions. The Company is working on various financial opportunities for the funding of potential project acquisitions and the respective capital expenditure requirements for each.
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Bio Solutions Mfg Inc (OTC BB: BSLM)
Bio Solutions Manufacturing Settles Lawsuit with Bio-Solutions Franchise Corp. and Others Bio Solutions Manufacturing Retracts Press Release Allegations Dated August 23, 2007
LAS VEGAS, Oct 24, 2007 Bio Solutions Manufacturing, Inc. and Bio-Solutions Franchise Corp., or BSFC, announced today that they have settled a pending action against each other and other parties in the United States District Court for the Southern District of Mississippi. In June 2007, suit was commenced in the District Court. Since the litigation commenced, the parties have provided credible evidence to dispute the charges made against each other. The parties have reached a settlement of the litigation, which will be globally dismissed with prejudice. As part of the settlement, the parties acknowledge that the allegations in the filings with the District Court are withdrawn and are hereby expressly publicly retracted, including specifically the allegations made in the press release issued by Bio Solutions Manufacturing on August 23, 2007, at 5:02 a.m. EST, alleging breach of fiduciary duty, usurpation of corporate opportunity, federal and state securities fraud, misappropriation of trade secrets, conversion, unlawful distribution of securities, interference with contractual relations and prospective business advantage, unfair competition and business practices, breach of contract, breach of the covenant of good faith and fair dealing, civil conspiracy, fraud, and misrepresentation, self-dealing and wasteful transactions. All allegations of improper conduct attributable to Bio-Solutions Franchise Corporation, N. Wayne Wade, Louis H. Elwell, III, Innovative Industries, LLC, Bio-Solutions of Louisiana, LLC, Environmental Services of Mississippi, LLC, Wade's Farm, LLC, Sabrina Baio and Amanda Best, are hereby likewise expressly completely publicly retracted.
BSLM no longer makes these contentions, and is pleased that it is able to retract the allegations made in the filings with the U.S. District Court. BSLM is also pleased that BSFC has likewise withdrawn its contentions and retracted the allegations against BSLM in the U.S. District Court.
BSLM wishes to acknowledge the efforts and cooperation of BSFC in bringing this case to a conclusion. BSLM believes that this resolution is in the best interest of all parties. BSLM wishes to acknowledge the contributions of the BSFC group to BSLM over the years, and thanks them for those contributions.
About Bio Solutions Manufacturing, Inc.
Bio Solutions Manufacturing has developed microbiological products for waste bioremediation. The Company's products are currently used by many municipal collection systems and food service facilities in the United States. The Company's products have been approved by municipalities for use in food service facilities that produce waste products introduced into the municipal collection systems. The Company's products treat waste in an environmentally friendly and safe manner in compliance with Federal and State government standards.
The Company has developed a line of environmentally friendly cleaning products that include all-purpose cleaner, carpet cleaner, concrete and asphalt cleaner, and floor soap. In addition, the Company is developing a unique, patent-pending grease extractor to be used in conjunction with bioremediation solutions to extract desired oil and grease to be converted into value-added product, such as biodiesel fuel.
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Terra Nostra Res Corp (OTC BB: TNRO)
Terra Nostra Completes Balance of Institutional Financing
LOS ANGELES and ZIBO, China, Oct 24, 2007 Terra Nostra Resources Corporation a majority owner of two joint venture companies in the copper and stainless steel industries in China, is pleased to announce that it has closed a private placement totaling $5,604,835 in Senior Secured Convertible Notes.
This is the second and final closing of an oversubscribed $12.5 million offering to accredited institutional investors, previously announced September 4, 2007.
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