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Tuesday, July 29, 2008

EFCR is on our Radar


EGPI Firecreek Inc. (EFCR.OB) commenced the production and sale of oil and natural gas during its fiscal 2007 and saw revenues from said activities generate approximately $451,000 in revenue versus total revenue of nearly $147,000 in 2006. The company also ended the fiscal year with just over $2M in cash on hand in comparison to next to nothing last year. Despite an alarmingly high outstanding share-count – in excess of one billion! – I’ll be watching this one closely over the near to mid-term because they are in fact producing oil & gas.

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