ESP Resources, Inc. Announces Planned Expansion of Sales and Service District in Mission, TX
SCOTT, La., Aug. 4 /PRNewswire-FirstCall/ -- ESP Resources, Inc.(OTC Bulletin Board: ESPI) is expanding their district operations in Mission, TX for the supply, sales and service of petrochemicals to oil and gas companies located in the Southeast, Southwest, and Central Texas regions, areas home to the Eagle Ford shale gas formation. In addition, during the second quarter of 2010, ESP added four new customers in this district and anticipates a significant increase in revenues through the rest of 2010.
Lina Diaz has been promoted to manage the expanded district and the company is currently reviewing building sites with a new location for the office and warehouse facility anticipated before the end of 2010.
Many of the largest independent oil and gas companies in the U.S. are currently drilling new gas wells targeting the Eagle Ford formation, including Anadarko Petroleum, Pioneer Natural Resources, Chesapeake Energy, Apache Corporation, Murphy Oil, Petrohawk Energy, Forest Oil Company and EOG Resources. ESP Petrochemicals currently supplies petrochemicals to many of these operators and anticipates increasing sales to their current customer base in the next twelve months.
"With the planned expansion of our Mission, TX facility, ESP is deploying an aggressive sales strategy for the area. Our product line has gained favorable response from the oil and gas companies operating in the region, with a sales increase greater than 100% during the last six months, and we anticipate additional sales increases into the future," said David Dugas, President of ESP Resources, Inc. "Ms. Diaz and her team of experienced sales and service technicians, coupled with our superior petrochemical product line, will assist ESP Petrochemicals in the deployment of our aggressive sales strategy for the remainder of 2010 and 2011."
About ESP Resources, Inc.
ESP Resources, Inc. is a publicly traded petrochemical company (OTC Bulletin Board: ESPI) headquartered in Scott, LA. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., ESP is a manufacturer, blender, distributor, and marketer of specialty chemicals and analytical services to the oil and gas industry. ESP supplies retail and wholesale specialty chemicals for a variety of oil field applications including production, drilling, waste remediation, cleaning, and waste water treatment. From its 11,000 square foot blending and distribution facility, ESP distributes its product line throughout the Gulf Coast region of Louisiana, Texas, Mississippi, and Alabama, both onshore and offshore. The wholesale division of the company supplies specialty chemicals to several retailers operating in West Africa. The company's senior management has over 100 years of combined operating experience in the petrochemical industry. www.espresourcescorp.com
Legal Notice Regarding Forward-Looking Statements
This press release contains "forward looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. In evaluating these statements, you should consider the risks discussed, from time to time, in the reports we file with the US Securities and Exchange Commission. For a discussion of some of the risks and important factors that could affect the firm's future results and financial condition, see "Risk Factors" in Part I, Item 1A of the firm's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of the firm's Annual Report on Form 10-K for the fiscal year ended December 31, 2009.
SOURCE ESP Resources, Inc.
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