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EGPI Firecreek Inc agrees to acquire Caddo International Inc.

M2 EQUITYBITES-July 20, 2011-EGPI Firecreek Inc agrees to acquire Caddo International Inc(C)2011 M2 COMMUNICATIONS http://www.m2.com

Oil and gas company EGPI Firecreek Inc (OTCBB:EFIRD.ob) revealed on Tuesday the completion of an agreement for the acquisition of Caddo International Inc.

Subject to the completion of all required SEC filings, Caddo's acquisition shall be structured as a share exchange, based on independent third party valuations of the two entities and all requirements for the audited financial of the company, which shall be completed prior to the closing.

Currently, Caddo's acquisition has 67% support from the existing shareholders. The expected time for completion is 90 days.

Caddo International is an oil production and service company, utilising its own equipment and pulling units to provide oilfield services. The company currently generates revenues of approximately USD1.4m to USD2.4m per year with an estimated USD6m in assets.

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Publication:M2 EquityBites (EQB)
Date:Jul 20, 2011
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