Echo Satellite Communications, Inc. (ECSC) Inks LOI To Acquire Xeric ...

Tag : Gas Disposal

HOUSTON--(BUSINESS WIRE)--Echo Satellite Communications, Inc.(Other OTC:ECSC - News) announced today that it has entered into aletter of intent to acquire the assets of Houston, Texas-basedXeric Oil & Gas Corp. ("Xeric"). The transaction gives ECSC workinginterests in more than 200 productive oil, natural gas and waterdisposal well properties located in Montana, New Mexico andWyoming. ECSC will continue to operate its satellite communicationsand remote video surveillance businesses
"We have been searching for an opportunity to join with anaggressive, forward-thinking public company," said Ron St. John,Xeric's President and Chief Executive Officer.
"We anticipate ECSC will provide us with resources and capabilitiesto enhance and optimize our present hydrocarbon productioncapability," he continued, "and the ECSC leadership team will playan instrumental role in the organization and growth of our oil andnatural gas origination opportunities. We look forward to closing,combining our teams and delivering quality energy, communications,and surveillance solutions to our stakeholders."
Echo Satellite Communications
Known for its ability to design, implement and commercializesatellite communications technology solutions, ECSC has a fullarray of wireless, non-line-of-sight communications solutions tooffer to military, governmental, first responder, and industrialusers for whom communication is not optional, it is critical. Formore information, please visit www.echosatcom.com; or view ourinformation video atwww.angelvisiontech.com/clients/echo_satellite.
Safe Harbor Statement
Certain oral statements made by management from time to time andcertain statements contained in press releases and periodic reportsissued by Echo Satellite Communications, Inc., (the "Company"), aswell as those contained herein, that are not historical facts are"forward-looking" statements within the meaning of Section 21E ofthe Securities and Exchange Act of 1934, and because suchstatements involve risks and uncertainties, actual results maydiffer materially from those expressed or implied by suchforward-looking statements. Forward-looking statements, includingthose in Management's Discussion and Analysis, are statementsregarding the intent, belief, or current expectations, estimates,or projections of the Company, its directors, or its officers aboutthe Company and the industry in which it operates and are based onassumptions made by management. Forward-looking statements includewithout limitation statements regarding: (a) the Company'sstrategies regarding growth and business expansion, includingfuture acquisitions; (b) the Company's financing plans; (c) trendsaffecting the Company's financial condition or results ofoperations; (d) the Company's ability to continue to control costsand to meet its liquidity and other financing needs; (e) thedeclaration and payment of dividends; and (f) the Company's abilityto respond to changes in customer demand and regulations. Althoughthe Company believes that its expectations are based on reasonableassumptions, it can give no assurance that the anticipated resultswill occur. When issued in this report, the words "expects,""anticipates," "intends," "plans," "believes," "seeks,""estimates," and similar expressions are generally intended toidentify forward-looking statements.
Copyright 2008 Business Wire All Rights Reserved