John R. Taylor and William E. Merritt resign!
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Whoa...EFCR has no leaders. They have lost their President and Executive Vice President and CEO! Sure glad I'm not in this stock right now. No telling what it's going to do now. John Taylor seemed to be the leader and "glue" behind everything, and now he's gone. They have what....22 million shares between them? Notice that all John Taylor mentioned in his resignation was the 10 Mile Draw project.....nothing at all mentioned about the overseas projects! Ain't good.....
pinksheets.com
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
Effective May 5, 2006, the Company and Firecreek Petroleum, Inc. accepted the resignation of Mr. William E. Merritt as the Executive Vice President of EGPI Firecreek, Inc. and Executive Vice President of Firecreek Petroleum, Inc., and as a director, officer, and committee member and all other positions held with these companies and their subsidiaries. Mr. Merritt has determined to explore other opportunities. Mr. Merritt's resignation letter did not reference a disagreement with the Company or any of its subsidiaries on any matter relating to the Company's or its subsidiaries' operations, policies and practices.
Effective May 8, 2006, the Company and Firecreek Petroleum, Inc. accepted the resignation of Mr. John R. Taylor as the President of EGPI Firecreek, Inc. and as the President and CEO of Firecreek Petroleum, Inc., and as director, officer, and committee member and all other positions held with these companies and their subsidiaries. Mr. Taylor is leaving the main stream for medical reasons. Upon his resignation, Mr. Taylor expressed his continued support of the Company and its subsidiaries and his belief that the Company is well positioned to become a very profitable oil company. Mr. Taylor's resignation letter did not reference a disagreement with the Company or any of its subsidiaries on any matter relating to the Company's or its subsidiaries' operations, policies and practices.
Both Mr. Taylor and Mr. Merritt have expressed that they shall be available to provide consulting and evaluation assistance on an ongoing basis for all of the Company's active domestic and overseas efforts and requirements in progress.
The Company is proud of the tremendous non stop efforts, strategic counsel, and hard work provided by Mr. Taylor and Mr. Merritt during their tenure with the Company
A copy of Mr. Merritt's resignation letter is filed herewith as Exhibit 17.1 and a copy of Mr. Taylor's resignation letter is filed herewith as Exhibit 17.2.
4 May 2006
Boards of Directors of
EGPI Firecreek, Inc. and
Firecreek Petroleum, Inc.
c/o Dennis R. Alexander,
Chairman of the Board
6564 Smoke Tree Lane
Town of Paradise Valley, Arizona 85253
Gentlemen:
This is to advise you that, effective as of Friday, 5 May 2006, I hereby resign as Executive Vice President of EGPI Firecreek, Inc. and Firecreek Petroleum, Inc., and from all director, officer, committee and other positions that I hold with these companies and their subsidiaries. I have determined to explore other opportunities.
I believe that EGPI Firecreek, Inc. and Firecreek Petroleum, Inc. will continue on the path to success that has commenced with the Ten Mile Draw project in Wyoming, and I wish you all the best.
Very truly,
/s/ William E. Merritt
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7 May 2006
Boards of Directors of
EGPI Firecreek, Inc. and
Firecreek Petroleum, Inc.
c/o Dennis R. Alexander,
Chairman of the Board
6564 Smoke Tree Lane
Town of Paradise Valley, Arizona 85253
Dear Mr. Chairman:
My doctor recently advised me of a potentially serious health condition, which requires medical attention and a change of lifestyle. I will no longer be able to perform the duties associated with the President and Chief Executive Officer of EGPI Firecreek, Inc. and Firecreek Petroleum, Inc.
It is with regret that I must resign as President and Chief Executive Officer of EGPI Firecreek, Inc. and Firecreek Petroleum, Inc., and from all directorships, officer, committee and other positions that I hold with these companies and their subsidiaries.
This resignation is effective, 8 May 2006. Subject to my health and schedule I will be available for consultation and evaluation of new projects and assistance in the completion of current projects as you may request.
I am truly sad at this necessary departure from Firecreek after twenty years of developing the company, especially since it is finally in a position for substantial growth and profits. I see great things in EGPI-Firecreek's future and it is unfortunate that I will not be able to be an active part of that growth. Best of luck with the Ten Mile Draw project, it's a winner!
Yours very truly,
/s/ John R. Taylor
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John R. Taylor
President and Chief Executive Officer
Member of the Board of Directors |
