SeptemberFinancial_Report-1.xls


Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2011	Nov. 04, 2011
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	30-Sep-11
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q3
Trading Symbol	EFIR
Entity Registrant Name	EGPI FIRECREEK, INC.
Entity Central Index Key	1106848
Current Fiscal Year End Date
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		51,733,196


Document_and_Entity_Informatio > CONSOLIDATED_BALANCE_SHEETS > ...


CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2011	Dec. 31, 2010
Current assets:
Cash	$ 63,496	$ 9,272
Accounts receivable	46,588	14,835
Inventory	19,534
Prepaid expenses	5,500	5,900
Notes receivables	100,000
Current assets related to discontinued operations
Cash		658
Accounts receivable		111,568
Prepaid expenses		3,165
Total current assets related to discontinued operations		115,391
Total current assets	235,118	145,398
Other assets:
Investment in Terra Telecom, Inc.		18,000
Goodwill	22,119
Intangible assets - net	330,936
Fixed assets - net	611,850	568,560
Oil and natural gas properties - proved reserves - net	3,832,336	163,500
Other assets related to discontinued operations
Intangible assets - net		743,420
Goodwill		2,001,840
Fixed assets - net		21,469
Total other assets related to discontinued operations		2,766,729
Total other assets	4,797,241	3,516,789
Total assets	5,032,359	3,662,187
Current liabilities:
Accounts payable & accrued expenses	842,109	558,489
Notes payable	2,883,930	3,307,224
Convertible notes, net of discount	328,828	44,490
Capital lease obligation	56,872	56,872
Advances & notes payable - related parties	502,561	188,718
Derivative liabilities	671,824	823,846
Asset retirement obligation	15,392	5,368
Current liabilities related to discontinued operations Accounts payable & accrued expenses		2,209,128
Total current liabilities	5,301,516	7,194,135
Commitments and contingencies:
Series D preferred stock, 2.5 million authorized, par value $0.001, convertible into common shares. 2,500 and 0 shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively	3,736,387
Shareholders' deficit:
Common stock- $0.001 par value, authorized 5,000,000,000 shares, issued and outstanding 23,646,473 at September 30, 2011 and 103,831 at December 31, 2010.	23,646	104
Additional paid in capital	28,918,095	25,951,275
Other comprehensive income	189,614	219,209
Common stock subscribed	1,535,029	1,448,250
Contingent holdback	2,000	2,000
Accumulated deficit	-34,674,015	-31,152,800
Total shareholders' deficit	-4,005,544	-3,531,948
Total liabilities & shareholders' deficit	5,032,359	3,662,187
Series C preferred stock
Shareholders' deficit:
Preferred stock	$ 87	$ 14


... < CONSOLIDATED_BALANCE_SHEETS > CONSOLIDATED_BALANCE_SHEETS_Pa > ...


CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2011	Dec. 31, 2010
Series D preferred stock, authorized	2,500,000	2,500,000
Series D preferred stock, par value	$ 0.001	$ 0.001
Series D preferred stock, shares issued	2,500	0
Series D preferred stock, shares outstanding	2,500	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	5,000,000,000	5,000,000,000
Common stock, issued	23,646,473	103,831
Common stock, outstanding	23,646,473	103,831
Series A preferred stock
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, convertible common share	$ 1	$ 1
Preferred stock, outstanding	0	0
Series B preferred stock
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, convertible common share	$ 1	$ 1
Preferred stock, outstanding	0	0
Series C preferred stock
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, votes per share, are not convertible	21,200	21,200
Preferred stock, outstanding	87,142	14,286


... < CONSOLIDATED_BALANCE_SHEETS_Pa > CONSOLIDATED_STATEMENTS_OF_OPE > ...


CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues
Cost of sales	$ (695)	$ (38,835)	$ (81,656)	$ (38,835)
Well operation costs	-69,366		-156,337
Gross margin	8,017	3,713	-4,904	3,713
General administration
Total general & administrative expenses	-428,654	-74,125	-1,211,412	-1,552,102
Net loss from operations	-420,637	-70,412	-1,216,316	-1,548,389
Other revenues and expenses:
Interest expense	-314,454	-44,095	-611,906	-242,312
Gain (loss) on settlement or conversion of debt	-224,497	162,506	-1,235,706	-448,295
Gain (loss) on asset disposal		-1,673	31,970
Gain (loss) on derivatives	208,031	-875,476	113,628	-847,391
Net loss before provision for income taxes	-751,557	-829,150	-2,918,330	-3,086,387
Provision for income taxes
Loss from continuing operations	-751,557	-829,150	-2,918,330	-3,086,387
Loss from discontinued operations net of tax		-211,928	-602,885	-986,139
Net loss	-751,557	-1,041,078	-3,521,215	-4,072,526
Foreign currency translation	66,577	-230,513	184,186	190,963
Net comprehensive loss	-684,980	-1,271,591	-3,337,029	-3,881,563
Basic and diluted net loss per common share:
Basic and diluted loss per common share from continuing operations	$ (0.08)	$ (0.37)	$ (0.67)	$ (2.86)
Basic and diluted loss per common share from discontinued operations		$ (0.09)	$ (0.14)	$ (0.92)
Basic and diluted net loss per common share	$ (0.08)	$ (0.46)	$ (0.81)	$ (3.78)
Weighted average of common shares outstanding:
Basic and fully diluted	9,799,085	2,251,215	4,333,778	1,077,852
Sales
Revenues
Revenues		42,548	47,362	42,548
Oil and Gas Sales
Revenues
Revenues	$ 78,078		$ 185,727


... < CONSOLIDATED_STATEMENTS_OF_OPE > CONSOLIDATED_STATEMENTS_OF_CAS > ...


CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Sep. 30, 2011	Sep. 30, 2010
Operating Activities:
Net income (loss)	$ (3,521,215)	$ (4,072,531)
Adjustments to reconcile net loss items not requiring the use of cash:
Gain on disposal of fixed assets		-2,927
Accretion of asset retirement obligation	1,973
Promissory notes issued for services	240,000
Loss on disposition of SATCO	586,924
Gain on issuance of common shares to shareholders of Terra Telecom, Inc.	-31,970
Bad debt expense	100,000
(Gain) loss on change in derivative	-113,628	847,391
Loss on settlement of debt	1,110,134	696,694
Loss on conversion of debt	125,145
Depletion	132,807
Depreciation	64,984	22,019
Amortization of intangibles	67,449	52,155
Amortization of debt discount	582,645	-250,000
Changes in other operating assets and liabilities:
Accounts receivable	111,133	369,788
Inventory	11,093	62,441
Accounts payable and accrued expenses	-95,569	429,235
Accounts payable and accrued expenses - related party	155,182
Prepaid expenses	336	-3,775
Net cash used by operations	-366,770	-1,122,776
Investing Activities:
Acquisition of fixed assets		-50,000
Cash paid for development costs of oil and gas properties	-165,162
Cash acquired in purchase of Arctic Solar Engineering	538
Net cash used by investing activities	-164,624	-50,000
Financing Activities:
Proceeds from the sale of stock		61,004
Principal payments on debt - related parties	-13,669
Principal payments on debt	-31,500	-311,295
Borrowings on debt - related parties	210,000	1,251,056
Borrowings on debt	450,382
Net cash provided by financing activities	615,213	1,000,766
Foreign currency translation	-29,595	190,963
Net increase (decrease) in cash during the period	54,224	18,952
Cash balance at beginning of period	9,272	17,625
Cash balance at end of period	63,496	36,577
Supplemental disclosures of cash flow information:
Interest paid during the year	33,308
Income taxes paid during the year
Common stock issued for:
Assets acquired in capital lease		56,872
Preferred shares subscribed to acquire oil and gas lease	3,736,387
Accounts payable converted to promissory notes	385,581
Adjustment to asset retirement obligation	8,051
Adjustment due to derivative liability	537,489
Discount on notes payable	597,364
Preferred Stock
Changes in other operating assets and liabilities:
Shares issued for services	75,000
Common Stock
Changes in other operating assets and liabilities:
Shares issued for services	30,807	726,734
Debt conversion
Common stock issued for:
Common stock issued	314,843	2,884,900
Redquartz acquisition
Common stock issued for:
Common stock issued		4,464,400
Chanwest acquisition
Common stock issued for:
Common stock issued		268,276
Debt settlement
Common stock issued for:
Common stock issued	1,199,878	200,000
Shareholder of Terra
Common stock issued for:
Common stock issued	$ 18,000


... < CONSOLIDATED_STATEMENTS_OF_CAS > ...


CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT (USD $)	Total	Preferred Value	Common Value	Paid in Capital	Accumulated Deficit	Other Comprehensive Loss	Common Stock Subscribed	Other	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Common Value	Preferred Value	Preferred Value	Preferred Value
									Services	Services	Services	Services	Debt settlement	Debt settlement	Debt settlement	Debt settlement	Debt conversion	Debt conversion	Debt conversion	Debt conversion	Shareholder of Terra	Shareholder of Terra	Shareholder of Terra	Shareholder of Terra	Services	Services	Services
											Paid in Capital	Common Stock Subscribed			Paid in Capital	Common Stock Subscribed			Paid in Capital	Common Stock Subscribed			Paid in Capital	Common Stock Subscribed			Paid in Capital
Beginning Balance at Dec. 31, 2010	$ (3,531,948)	$ 14	$ 104	$ 25,951,275	$ (31,152,800)	$ 219,209	$ 1,448,250	$ 2,000
Beginning Balance (in shares) at Dec. 31, 2010		14,286	103,831
Acquisition of Arctic Solar Engineering, Inc. (in shares)			12,000
Acquisition of Arctic Solar Engineering, Inc.	49,800		12	49,788
Other comprehensive loss	-29,595					-29,595
Net loss for the nine months ended	-3,521,215				-3,521,215
Issued shares (in shares)										5,857				12,200,131				11,322,211				2,443				72,856
Issued shares									25,755	6	25,716	33	2,481,619	12,200	2,356,997	112,422	439,988	11,322	436,342	-7,676	5,052	2	23,050	-18,000	75,000	73	74,927
Ending Balance at Sep. 30, 2011	$ (4,005,544)	$ 87	$ 23,646	$ 28,918,095	$ (34,674,015)	$ 189,614	$ 1,535,029	$ 2,000
Ending Balance (in shares) at Sep. 30, 2011		87,142	23,646,473


... < CONSOLIDATED_STATEMENT_OF_CHAN > Organization_of_the_Company_an > Going_Concern > Common_and_Preferred_Stock_Tra > Preferred_Stock_Series > Fixed_Assets_and_Oil_and_Gas_P > Options_Warrants_Outstanding > Arctic_Solar_Engineering_LLC_A > Acquisition_of_interest_in_oil > Note_Receivable > Income_Tax_Provision > Related_Party_Transactions > Notes_Payable > Capital_Lease_Obligation > Derivative_Liability > Intangible_Assets > Asset_Retirement_Obligation_AR > Discontinued_Operations > Professional_Service_Agreement > Concentrations_and_Risk > Contingencies > Subsequent_Events > ...

Organization of the Company and Significant Accounting Principles

9 Months Ended

Sep. 30, 2011

Organization of the Company and Significant Accounting Principles

1. Organization of the Company and Significant Accounting Principles

The Company was incorporated in the State of Nevada October 1995. Effective October 13, 2004 the Company, previously known as Energy Producers Inc., changed its name to EGPI Firecreek, Inc.

Prior to December 2008, the Company held interests in various gas & oil wells located in the Wyoming and Texas area. In December 2008, the Company’s major creditor, Dutchess Private Equities Ltd. (Dutchess), foreclosed on the assets of the Company. As a result, all of the Company’s oil and gas properties were transferred to Dutchess in satisfaction of debt owed.

In October 2008, the Company effected a 1 share for 200 shares reverse split of its common stock and all amounts have been retroactively adjusted.

In May 2009 the Company acquired M3 Lighting, Inc. (“M3”) as a wholly owned subsidiary via reverse triangular merger. The Company was determined to be the acquirer in the transaction for accounting purposes. M3 is a distributor of commercial and decorative lighting to the trade and direct to retailers. As part of the Merger the Company effected a name change for its wholly owned subsidiary Malibu Holding, Inc. to Energy Producers, Inc. (“EPI”) as a conduit for its oil and gas activities.

In November 2009 the Company acquired all of the issued and outstanding capital stock of South Atlantic Traffic Corporation, a Florida corporation (“SATCO”). SATCO has been in business since 2001 and has several offices throughout the Southeast United States. SATCO carries a variety of products and inventory geared primarily towards the transportation industry. SATCO offers transportation products ranging from loop sealant, traffic signal equipment, traffic and light poles, data/video systems and Intelligent Traffic Systems (ITS) surveillance systems. SATCO works closely with Department of Transportation (DOT) agencies, local traffic engineers, contractors, and consultants to customize high quality traffic control systems.

In December 2009, the Company’s wholly owned subsidiary Energy Producers, Inc. acquired 50% working interests and corresponding 32% net revenue interests in oil and gas leases, reserves, and equipment located in West Central Texas. The Company entered into a turnkey work program included for three wells located on the leases.

On March 3, 2010, the Company executed a Stock Purchase Agreement with the stockholders of Redquartz LTD (“Sellers” or “RQTZ”), a company formed and existing under the laws of the country of Ireland, whereas the Company agreed to issue 100,000 shares of its restricted common stock valued at USD $2,500 in exchange for 100% of the issued and outstanding shares of common stock, par value $0.01 per share, of RQTZ. All assets and liabilities, other than the Shareholder Notes Payable, of the RQTZ were transferred to the prior owners of Redquartz. The Notes Payable represent a debt burden to RQTZ of USD $4,464,262. This obligation is based in Euros and converted to our functional currency the dollar. Redquartz LTD was inactive in the first and second quarter of 2010 and had no income and expense that would affect the financial statements of the Company and therefore no pro-forma is necessary.

On June 11, 2010, the Company acquired all of the issued and outstanding stock of Chanwest Resources, Inc., (“Chanwest or CWR”) a Texas corporation. In the course of this acquisition, Chanwest stockholders exchanged all outstanding common shares for the Company’s common shares and other provisions. Chanwest Resources, Inc. was formed in 2009 and has been engaged in ramping up operations including acquiring assets related to the servicing and construction, and activities related to the acquisition, production and development for oil and gas. Chanwest has formed strategic alliances and brought key management with over 40 years experience in all facets of the oil and gas industry, to be implemented on day one of our acquisition thereof. Chanwests’ first phase of operations include Construction and Trucking, services for drill site preparation to clear and lay pipeline (gathering systems) for operators. Chanwest operations can provide for services to maintain lease roads, set power poles and clean up oilfield spills. Chanwest works with operators or lease owners by purchase order or contract with major oil fields.

On October 1, 2010 EGPI Firecreek, Inc. the Company entered into a Definitive Securities Purchase/Exchange Agreement with Terra Telecom, LLC. (“Terra"). Terra is considered recognized as a leading provider of state-of-the-art communication technologies and a premier Alcatel-Lucent partner. They currently serve various sized companies and organizations that use and deploy communications systems, sales, service, and training while consolidating and optimizing the end user experience. Its goal is to provide customers value and integrity in each of these opportunities. Since 1980, Terra has focused on delivering enterprise solutions while leading with voice services and offering full turn-key solutions that consist of voice, data, video and associated applications. As of December 31, 2010, the Company has not assumed control of this acquisition. As a result, this company is not consolidated in the financial statements as of December 31, 2010. On March 14, 2011, the Company sold its interest in Terra to Distressed Asset Acquisitions, Inc.

On October 18, 2010, the Company filed a Certificate of Amendment to its Articles of Incorporation, increasing its authorized common stock, par value $0.001 per share, to 3,000,000,000 from 1,300,000,000 and is authorized to issue 60,000,000 shares of preferred stock that has a par value of $0.001 per share.

On November 9, 2010, the Company affected a 1 share for 50 shares reverse split of its common stock and all amounts have been retroactively adjusted for all periods presented.

On February 4, 2011, the Company entered into an Agreement to acquire all 100% of Arctic Solar Engineering LLC, a Missouri limited liability company located at PO Box 4391, Chesterfield, MO 63006 and the owners of Membership Interests of the Arctic Solar Engineering LLC; The FATM Partnership, a Missouri Partnership, The Frederic Sussman Living Trust. Arctic Solar Engineering, LLC, is an integrator of Solar Thermal Energy technology. For further information please see our Current Report on Form 8-K filed on February 10, 2011, and in the section on “The Business”, and “Overview” to the Management Discussion and Analysis sections, and elsewhere listed in this document.

On March 2, 2011 the Company obtained a consent from the majority shareholders of the Company to amend the Articles of Incorporation to i) authorize the issuance of 2,500 shares of a new D Series Preferred Stock, and ii) for the Board of Directors to be able to authorize any and all capitalization of the Company going forward without the need for shareholder approval, and further authorized for the Board of Directors to set all rights, preferences, and designations, for and in behalf of any class of the Company’s common of preferred stock, and as may be required or as necessary in the best interest of the Company.

On March 14, 2011, the Company entered into and completed the closing of a Stock Purchase Agreement involving the sale of South Atlantic Traffic Corporation to Distressed Asset Acquisitions, Inc. For further information please see our Current Report on Form 8-K filed on March 18, 2011 and in the section on “The Business”, and “Overview” to the Management Discussion and Analysis sections, and elsewhere listed in this document.

On March 14, 2011, the Company entered into and completed the closing of a Stock Purchase Agreement involving the sale of Oklahoma Telecom Holdings, Inc. an Oklahoma corporation, formerly known as Terra Telecom, LLC., an Oklahoma limited liability company, to Distressed Asset Acquisitions, Inc. For further information please see our Current Report on Form 8-K filed on March 18, 2011 and in the section on “The Business”, and “Overview” to the Management Discussion and Analysis sections, and elsewhere listed in this document.

On March 14, 2011, the Company entered into and completed the closing of a Stock Purchase Agreement involving the sale of Terra Telecom, Inc. (“TTI”), to Distressed Asset Acquisitions, Inc. For further information please see our Current Report on Form 8-K filed on March 18, 2011 and in the section on “The Business”, and “Overview” to the Management Discussion and Analysis sections, and elsewhere listed in this document.

On July 7, 2011, the Company affected a 1 share for 500 shares reverse split of its common stock and all amounts have been retroactively adjusted for all periods presented.

Consolidation - the accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company balances have been eliminated.

The financial information included in this quarterly report should be read in conjunction with the consolidated financial statements and related notes thereto in our Form 10-K for the year ended December 31, 2010.

Use of Estimates - The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make reasonable estimates and assumptions that affect the reported amounts of the assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses at the date of the consolidated financial statements and for the period they include. Actual results may differ from these estimates.

Revenue and Cost Recognition-

-

Oil and gas: Revenue is recognized from oil and gas sales in the period of delivery. Settlement on sales occurs anywhere from two weeks to two months after the delivery date. The Company recognizes revenue when an arrangement exists, the product has been delivered, the sales price is fixed or determinable, and collectability is reasonably assured.

-

Oilfield services: Revenue from services is recognized when an arrangement exists, the services are rendered, the sales price is fixed or determinable, and collectability is reasonably assured.

The Company records commission revenue, usually 3% of the amount invoiced, based on contracts with suppliers, once the purchase order is placed with the supplier and the customer is invoiced. The Company, in turn, sends an invoice to the supplier for 3% of the total order amount. Commission sales are specialty orders drop-shipped from the manufacturer. Accordingly, all sales are final upon delivery to the customer under the terms of the sales order.

Cash Equivalents -The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. There were no cash equivalents as of September 30, 2011 or December 31, 2010.

Accounts Receivable - The Company extends credit to its customers in the normal course of business and performs ongoing credit evaluations of its customers, maintaining allowances for potential credit losses which, when realized, have been within management's expectations. The allowance method is used to account for uncollectible amounts. The evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. Allowance for doubtful accounts was $0 at September 30, 2011 and $207,983 at December 31, 2010.

Inventory - Inventories consist of merchandise purchased for resale and are stated at the lower of cost or market using the first-in, first-out (FIFO) method.

Prepaid Expenses - Prepaid expenses are recorded at cost for payments for goods and services purchased during an accounting period but not used or consumed during that accounting period. The costs are amortized over time as the benefit is received onto the income statement.

Oil and Gas Activities - The Company uses the successful efforts method of accounting for oil and gas producing activities. Under this method, acquisition costs for proved and unproved properties are capitalized when incurred. Exploration costs, including geological and geophysical costs, the costs of carrying and retaining unproved properties and exploratory dry hole drilling costs, are expensed. Development costs, including the costs to drill and equip development wells, and successful exploratory drilling costs to locate proved reserves are capitalized.

Exploratory drilling costs are capitalized when incurred pending the determination of whether a well has found proved reserves. A determination of whether a well has found proved reserves is made shortly after drilling is completed. The determination is based on a process which relies on interpretations of available geologic, geophysic, and engineering data. If a well is determined to be successful, the capitalized drilling costs will be reclassified as part of the cost of the well. If a well is determined to be unsuccessful, the capitalized drilling costs will be charged to expense in the period the determination is made. If an exploratory well requires a major capital expenditure before production can begin, the cost of drilling the exploratory well will continue to be carried as an asset pending determination of whether proved reserves have been found only as long as: i) the well has found a sufficient quantity of reserves to justify its completion as a producing well if the required capital expenditure is made and ii) drilling of the additional exploratory wells is under way or firmly planned for the near future. If drilling in the area is not under way or firmly planned, or if the well has not found a commercially producible quantity of reserves, the exploratory well is assumed to be impaired, and its costs are charged to expense.

In the absence of a determination as to whether the reserves that have been found can be classified as proved, the costs of drilling such an exploratory well is not carried as an asset for more than one year following completion of drilling. If, after that year has passed, a determination that proved reserves exist cannot be made, the well is assumed to be impaired, and its costs are charged to expense. Its costs can, however, continue to be capitalized if a sufficient quantity of reserves is discovered in the well to justify its completion as a producing well and sufficient progress is made in assessing the reserves and the well’s economic and operating feasibility.

The impairment of unamortized capital costs is measured at a lease level and is reduced to fair value if it is determined that the sum of expected future net cash flows is less than the net book value. The Company determines if impairment has occurred through either adverse changes or as a result of the annual review of all fields. During 2010 after conducting an impairment analysis, the Company did not record impairment as the fair value of our reserves exceeded our net book value.

Asset Retirement Obligations (“ARO”). The estimated costs of restoration and removal of facilities are accrued. The fair value of a liability for an asset's retirement obligation is recorded in the period in which it is incurred and the corresponding cost capitalized by increasing the carrying amount of the related long-lived asset. The liability is accreted to its then present value each period, and the capitalized cost is depreciated with the related long-lived asset. If the liability is settled for an amount other than the recorded amount, a gain or loss is recognized. For all periods presented, estimated future costs of abandonment and dismantlement are included in the full cost amortization base and are amortized as a component of depletion expense. At September 30, 2011 and December 31, 2010, the ARO of $ 15,392 and $5,368 is included in liabilities and fixed assets.

Development costs of proved oil and gas properties, including estimated dismantlement, restoration and abandonment costs and acquisition costs, are depreciated and depleted on a field basis by the units-of-production method using proved developed and proved reserves, respectively. The costs of unproved oil and gas properties are generally combined and impaired over a period that is based on the average holding period for such properties and the Company's experience of successful drilling.

Costs of retired, sold or abandoned properties that make up a part of an amortization base (partial field) are charged to accumulated depreciation, depletion and amortization if the units-of-production rate is not significantly affected. Accordingly, a gain or loss, if any, is recognized only when a group of proved properties (entire field) that make up the amortization base has been retired, abandoned or sold.

Stock-Based Compensation - The Company estimates the fair value of share-based payment awards made to employees and directors, including stock options, restricted stock and employee stock purchases related to employee stock purchase plans, on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense ratably over the requisite service periods. We estimate the fair value of each share-based award using the Black-Scholes option pricing model. The Black-Scholes model is highly complex and dependent on key estimates by management. The estimates with the greatest degree of subjective judgment are the estimated lives of the stock-based awards and the estimated volatility of our stock price. The Black-Scholes model is also used for our valuation of warrants.

Earnings Per Common Share - Basic earnings per common share is calculated based upon the weighted average number of common shares outstanding for the period. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents (convertible notes and interest on the notes, stock awards and stock options) outstanding during the period. Dilutive earnings per common share reflects the potential dilution that could occur if options to purchase common stock were exercised for shares of common stock. Basic and diluted EPS are the same as the effect of our potential common stock equivalents would be anti-dilutive.

Fair Value Measurements - On January 1, 2008, the Company adopted guidance which defines fair value, establishes a framework for using fair value to measure financial assets and liabilities on a recurring basis, and expands disclosures about fair value measurements. Beginning on January 1, 2009, the Company also applied the guidance to non-financial assets and liabilities measured at fair value on a non-recurring basis, which includes goodwill and intangible assets. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of the inputs as follows:

Level 1 - Valuation is based upon unadjusted quoted market prices for identical assets or liabilities in active markets that the Company has the ability to access.

Level 2 - Valuation is based upon quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable in the market.

Level 3 - Valuation is based on models where significant inputs are not observable. The unobservable inputs reflect the Company's own assumptions about the inputs that market participants would use.

The following table presents assets and liabilities that are measured and recognized at fair value as of September 30, 2011 on a recurring and non-recurring basis:

Gains

Description

Level 1

Level 2

Level 3

(Losses)

Intangibles (non-recurring)

$

-

$

-

$

381,000

$

-

Goodwill (non-recurring)

$

-

$

-

$

22,119

$

-

Derivatives (recurring)

$

-

$

-

$

671,824

$

-

The Company has goodwill and intangible assets as a result of the 2011 business combinations discussed throughout this form 10-Q. These assets were valued with the assistance of a valuation consultant and consisted of level 3 valuation techniques.

The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2010 on a recurring and non-recurring basis:

Gains

Description

Level 1

Level 2

Level 3

(Losses)

Intangibles (non-recurring)

$

-

$

-

$

824,000

$

-

Goodwill (non-recurring)

$

-

$

-

$

2,001,840

$

-

Derivatives (recurring)

$

-

$

-

$

823,846

$

-

The Company has derivative liabilities as a result of 2010 convertible promissory notes that include embedded derivatives. These liabilities were valued with the assistance of a valuation consultant and consisted of level 3 valuation techniques.

The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and long-term debt. The estimated fair value of cash, accounts receivable, accounts payable and accrued liabilities approximate their carrying amounts due to the short-term nature of these instruments. The carrying value of long-term debt also approximates fair value since their terms are similar to those in the lending market for comparable loans with comparable risks. None of these instruments are held for trading purposes.

Fixed Assets- Fixed assets are stated at cost. Depreciation expense is computed using the straight-line method over the estimated useful life of the asset. The following is a summary of the estimated useful lives used in computing depreciation expense:

Office equipment

3 years

Computer hardware & software

3 years

Improvements & furniture

5 years

Well equipment

7 years

Expenditures for major repairs and renewals that extend the useful life of the asset are capitalized. Minor repair expenditures are charged to expense as incurred.

Impairment of Long-Lived Assets - The Company has adopted Accounting Standards Codification subtopic 360-10, Property, Plant and Equipment ("ASC 360-10"). ASC 360-10 requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates its long-lived assets for impairment annually or more often if events and circumstances warrant. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of intangible assets will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset. ASC 360-10 also requires assets to be disposed of be reported at the lower of the carrying amount or the fair value less costs to sell.

Goodwill and Other Intangible Assets- The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit.

As of September 30, 2011 and December 31, 2010, amortizable intangible assets consist of trade names, customer contracts, patents and Non-compete clause. These intangibles are being amortized on a straight-line basis over their estimated useful lives of 3-5 years. For the nine months ending September 30, 2011 the Company recorded amortization of our intangibles of $67,449 and amortization of $ 52,155 for the nine months ending September 30, 2010. For the three months ending September 30, 2011 the Company recorded amortization of our intangibles of $ 19,100, and amortization of $ 17,385 for the three months ending September 30, 2010. Note 15 includes the balances of all intangibles as of September 30, 2011 and December 31, 2010. The useful lives pertaining to the intangible assets amortized are as follows:

Intangibles acquired in acquisition of Arctic Solar Engineering, Inc.

Useful life

Patents

5

Customer Base

5

Trademarks

5

Non-Compete

3

Intangibles disposed of pertaining to SATCO

Useful life

Tradename

12

Customer Relationships

10

Foreign Currency Translation and Transaction and translation - The financial position at present for the Company’s foreign subsidiary Redquartz, LLC, established under the laws of the Country of Ireland are determined using (U.S. dollars) reporting currency as the functional currency. All exchange gains and losses from remeasurement of monetary assets and liabilities that are not denominated in U.S. dollars are recognized currently in other comprehensive income. All transactional gains and losses are part of income or loss from operations (if and when incurred) will be pursuant to current accounting literature. The Company’s functional currency is the U.S dollar. We have an obligation related to our acquisition of Redquartz as discussed in Note 7 which is denominated in Euro’s. The change in currency valuation from our reporting this obligation in U.S dollars is reported as a component of other comprehensive income consistent with the relevant accounting literature.

Income taxes - The Company accounts for income taxes using the asset and liability method, which requires the establishment of deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided to the extent deferred tax assets may not be recoverable after consideration of the future reversal of deferred tax liabilities, tax planning strategies, and projected future taxable income.

The Company uses a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance requires the Company to recognize tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax benefits” is recorded for any tax benefits claimed in our tax returns that do not meet these recognition and measurement standards.

Derivative Financial Instruments -The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. Derivative financial instruments are initially measured at their fair value. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re−valued at each reporting date, with changes in the fair value reported as charges or credits to income. For option−based derivative financial instruments, the Company uses the Black−Scholes model to value the derivative instruments. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non−current based on whether or not net−cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

Recently Adopted and Recently Enacted Accounting Pronouncements

In January 2010, the FASB issued FASB ASU No. 2010-06, “Improving Disclosures about Fair Value Measurements,” which is now codified under FASB ASC Topic 820, “Fair Value Measurements and Disclosures.” This ASU will require additional disclosures regarding transfers in and out of Levels 1 and 2 of the fair value hierarchy, as well as a reconciliation of activity in Level 3 on a gross basis (rather than as one net number). The ASU also provides clarification on disclosures about the level of disaggregation for each class of assets and liabilities and on disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. FASB ASU No. 2010-06 is effective for interim and annual periods beginning after December 15, 2009, except for the disclosures requiring a reconciliation of activity in Level 3. Those disclosures will be effective for interim and annual periods beginning after December 15, 2010. The adoption of the portion of this ASU effective after December 15, 2009, as well as the portion of the ASU effective after December 15, 2010, did not have an impact on our consolidated financial position, results of operations or cash flows.

In April 2010, the FASB issued FASB ASU No. 2010-17, “Milestone Method of Revenue Recognition,” which is now codified under FASB ASC Topic 605, “Revenue Recognition.” This ASU provides guidance on defining a milestone and determining when it may be appropriate to apply the milestone method of revenue recognition for research and development transactions. Consideration which is contingent upon achievement of a milestone in its entirety can be recognized as revenue in the period in which the milestone is achieved only if the milestone meets all criteria to be considered substantive. A milestone should be considered substantive in its entirety, and an individual milestone may not be bifurcated. An arrangement may include more than one milestone, and each milestone should be evaluated individually to determine if it is substantive. FASB ASU No. 2010-17 was effective on a prospective basis for milestones achieved in fiscal years (and interim periods within those years) beginning on or after June 15, 2010, with early adoption permitted.

If an entity elects early adoption, and the period of adoption is not the beginning of its fiscal year, the entity should apply this ASU retrospectively from the beginning of the year of adoption. This ASU did not have any effect on the timing of revenue recognition and our consolidated results of operations or cash flows.

In December 2010, the FASB issued FASB ASU No. 2010-28, “When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero or Negative Carrying Amounts,” which is now codified under FASB ASC Topic 350, “Intangibles — Goodwill and Other.” This ASU provides amendments to Step 1 of the goodwill impairment test for reporting units with zero or negative carrying amounts. For those reporting units, an entity is required to perform Step 2 of the goodwill impairment test if it is more likely than not a goodwill impairment exists. When determining whether it is more likely than not an impairment exists, an entity should consider whether there are any adverse qualitative factors, such as a significant deterioration in market conditions, indicating an impairment may exist. FASB ASU No. 2010-28 is effective for fiscal years (and interim periods within those years) beginning after December 15, 2010. Early adoption is not permitted. Upon adoption of the amendments, an entity with reporting units having carrying amounts which are zero or negative is required to assess whether is it more likely than not the reporting units’ goodwill is impaired. If the entity determines impairment exists, the entity must perform Step 2 of the goodwill impairment test for that reporting unit or units. Step 2 involves allocating the fair value of the reporting unit to each asset and liability, with the excess being implied goodwill. An impairment loss results if the amount of recorded goodwill exceeds the implied goodwill. Any resulting goodwill impairment should be recorded as a cumulative-effect adjustment to beginning retained earnings in the period of adoption. This ASU is did not have an impact on our consolidated financial position, results of operations or cash flows.


... < Organization_of_the_Company_an > Going_Concern > Common_and_Preferred_Stock_Tra > Preferred_Stock_Series > Fixed_Assets_and_Oil_and_Gas_P > Options_Warrants_Outstanding > Arctic_Solar_Engineering_LLC_A > Acquisition_of_interest_in_oil > Note_Receivable > Income_Tax_Provision > Related_Party_Transactions > Notes_Payable > Capital_Lease_Obligation > Derivative_Liability > Intangible_Assets > ...


Going Concern	9 Months Ended
Going Concern	Sep. 30, 2011
Going Concern	2. Going Concern

	The accompanying consolidated financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying consolidated financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. The Company has experienced substantial losses, maintains a negative working capital and capital deficits, which raise substantial doubt about the Company's ability to continue as a going concern.

	The Company is working to manage its current liabilities while it continues to make changes in operations to improve its cash flow and liquidity position. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon the Company’s ability to generate revenue from the sale of its services and the cooperation of the Company’s note holders to assist with obtaining working capital to meet operating costs in addition to our ability to raise funds.


... < Going_Concern > ...


Common and Preferred Stock Transactions	9 Months Ended
Common and Preferred Stock Transactions	Sep. 30, 2011
Common and Preferred Stock Transactions	3. Common and Preferred Stock Transactions

	During the nine months ended September 30, 2011, the Company issued 5,857 shares of common stock for services that were expensed in the current year in the amount of $20,148. The value of the shares expensed in the prior year reduced the amount of common stock subscribed by $10,626 in the current period. There was an additional subscription that increased common stock subscribed during the period by $10,689. All shares issued were valued based upon the closing price of the Company’s common stock at the date of grant.

	During the nine months ended September 30, 2011, the Company issued 12,200,131 shares of common stock valued at $2,369,198 and recorded a common stock subscription in the amount of $112,422 to extinguish debt of $1,194,878 resulting in a loss on extinguishment of debt of $1,110,134 based upon the closing price of the Company’s common stock at the grant date less the carrying value of the debt that was exchanged.

	During the nine months ended September 30, 2011, the Company issued 11,322,211 shares of common stock valued at $447,664 and recorded a reduction to common stock subscribed in the amount of $7,676 to convert debt of $314,843 resulting in a loss on conversion of $125,145. The stock was valued based upon the conversion terms in the convertible promissory notes.

	During the nine months ended September 30, 2011, the Company granted 12,000 shares of common stock as payment to acquire Arctic Solar Engineering, LLC. The fair value of these shares was recorded based on the closing price of the Company’s common stock on the date of closing, resulting in a value of $49,800 and included in common stock subscribed as of March 31, 2011. During the nine months ended September 30, 2011, these shares were issued.

	During the nine months ended September 30, 2011, the Company issued 2,443 shares of common stock valued at $23,052. A portion of these shares, 6,000,000, was granted in the prior period and recorded in common stock subscribed in the amount of $18,000. The remaining portion was granted in the nine months ended September 30, 2011. The stock was valued based upon the closing price of the Company’s common stock at the grant date.


... < Common_and_Preferred_Stock_Tra > Preferred_Stock_Series > ...


Preferred Stock Series	9 Months Ended
Preferred Stock Series	Sep. 30, 2011
Preferred Stock Series	4. Preferred Stock Series

	Series A preferred stock: Series A preferred stock has a par value of $0.001 per share and no stated dividend preference. The Series A is convertible into common stock at a conversion ratio of one preferred share for one common share. Preferred A has liquidation preference over Preferred B stock and common stock.

	Series B preferred stock: Series B preferred stock has a par value of $0.001 per share and no stated dividend preference. The Series B is convertible into common stock at a conversion ratio of one preferred share for one common share. The Series B has liquidation preference over Preferred C stock and common stock.

	Series C preferred stock: The Preferred C stock has a stated value of $.001 and no stated dividend rate and is non-participatory. The Series C has liquidation preference over common stock. Effective May 20, 2009 i) Voting Rights for each share of Series C Preferred Stock shall have 21,200 votes on the election of directors of the Company and for all other purposes, and, ii) regarding Conversion to Common Shares, Series C have no right to convert to common or any other series of authorized shares of the Company.

	During the nine months ended September 30, 2011, 72,856 shares of Series C preferred stock were issued for services rendered. The preferred stock was valued at $75,000 based on an estimate of fair market value on the date of grant. The holders of Series C preferred stock represent a controlling voting interest in the Company. As a result, a determination of the control premium was determined to estimate the value of the shares. The control premium is based on publicly traded companies or comparable entities which have been recently acquired in arm’s length transactions. The Company performed the valuation with the assistance of a valuations expert.

	Series D preferred stock: Effective March 2, 2011 EGPI Firecreek, Inc. (the “Company”) obtained consent from the majority shareholders of the Company to amend the Articles of Incorporation to i) authorize the issuance of 2,500 shares of a new D Series Preferred Stock. The are 2.5 million Series D preferred stock authorized for issuance, par value $.001, and each share of Series D Preferred Stock is convertible into common shares, where such number of shares shall be equal to the greater of the number calculated by dividing the Purchase Commitment per share ( $1,000) by 1) $0.003 per share, or 2) one hundred and ten percent (110%) of the lowest VWAP for the three (3) days immediately preceding a Conversion Date. The 2,500 shares authorized have been issued to purchase an interest in a producing oil and gas property. The preferred stock was valued at fair value based on the use of a multinomial lattice model with computed the following assumptions: annual volatility at 238%, 20% of default at maturity, and the holder would convert at 1.5 times the conversion price decreasing as it approaches maturity. The total fair value of these preferred shares was computed to be $3,736,387. The shares were issued in the 2nd quarter of 2011.


... < Preferred_Stock_Series > ...


Fixed Assets and Oil and Gas Properties	9 Months Ended
Fixed Assets and Oil and Gas Properties	Sep. 30, 2011
Fixed Assets and Oil and Gas Properties	5. Fixed Assets and Oil and Gas Properties

	The following is a detailed list of fixed assets:

		September 30, 2011			December 31, 2010
	Property and Equipment	$	715,133		$	606,838
	Accumulated depreciation		(103,283	)		(38,278	)

	Fixed assets- net	$	611,850		$	568,560


... < Fixed_Assets_and_Oil_and_Gas_P > Options_Warrants_Outstanding > Arctic_Solar_Engineering_LLC_A > ...

Options & Warrants Outstanding

9 Months Ended

Sep. 30, 2011

Options & Warrants Outstanding

6. Options & Warrants Outstanding

All options and warrants granted are recorded at fair value using a Black-Scholes model at the date of the grant. There is no formal stock option plan for employees.

A listing of options and warrants outstanding at September 30, 2010 is as follows. Option and warrants outstanding and their attendant exercise prices have been adjusted for the 1 for 50 reverse split and the 1 for 500 reverse split of the common stock discussed in Note 1.

Amount

Weighted Average Exercise Price

Weighted Average Years to Maturity

Outstanding at December 31, 2010

649,262

$

11.197329

1.87

Issued

4,308,856

Exercised

Expired or cancelled

(4,957,858

)

Outstanding at September 30, 2011

260

$

27,884.62

1.162

The changes in the number of warrants issued above is due to two identical consulting contracts. Each agreement allows the Holder of the warrant to be able to purchase .5% of the Company’s common stock. The number of warrants to be issued under this agreement is increased each period and included in the derivative liability due to the fact that the derivative is caused by an indeterminate number of shares issuable upon conversion of certain convertible promissory notes. There was an increase of 4,308,856 in shares to be issued under this warrant during the nine months ended September 30, 2011. As of December 31, 2010, 649,262 shares were issuable under these warrant contracts. The warrants expire two and one half (2.5) years from the date of vesting. The agreements also cap the total of the fair market value of the shares to be given at $150,000 per consulting firm, for a total cap of $300,000. The value of these warrants are included in the derivative liability at December 31, 2010. These warrants were cancelled by the warrant holders during the nine months ended September 30, 2011.


... < Options_Warrants_Outstanding > Arctic_Solar_Engineering_LLC_A > Acquisition_of_interest_in_oil > Note_Receivable > Income_Tax_Provision > Related_Party_Transactions > Notes_Payable > Capital_Lease_Obligation > Derivative_Liability > Intangible_Assets > Asset_Retirement_Obligation_AR > Discontinued_Operations > ...


Arctic Solar Engineering LLC (ASE)	9 Months Ended
Arctic Solar Engineering LLC (ASE)	Sep. 30, 2011
Arctic Solar Engineering LLC (ASE)	7. Arctic Solar Engineering LLC (ASE)

	2011
		i)	On February 4, 2011, the Company entered into a stock exchange and purchase agreement between Arctic Solar Engineering, LLC, FATM Partnership, and Fredrick Sussman Living Trust, (the “Sellers”) and EGPI Firecreek, Inc. (the “Purchaser”). The Sellers exchanged 100 % of their ownership interests in the three (3) selling entities for 12,000 shares of our restricted common stock. In addition, the Purchase Agreement contains an “Earn-out Provision “ which requires cash and/or stock payments based on financial performance over a period of 36 months. In each twelve (12) month period, the Sellers are entitled to 50% of the Company’s audited net income after taxes; payable in 50% cash and 50% restricted common stock, ten (10) days after the filing of the annual audited report. This stock Earn-out consideration will be valued at 90 % of the last trade price on the filing date for the calendar year of operations.

	The Agreement calls for the following material terms:

	In addition to the Purchase Price, the Sellers shall, for a period of thirty-six (36) months following the Closing Date (the "EARN-OUT TERM"), be entitled to receive payment in the form of cash and additional shares of Restricted Common Stock (the “Earn-out Provision” or “Earn-out”) based upon the financial performance of the Company set forth below:

		(a)	The Earn-out Provision will be based on the audited Net Income After Tax of the Company.

		(b)	For each twelve month period during the Earn-out Term, the Sellers will be entitled to Fifty Percent (“50%”) of the Company’s Net Income After Tax payable half in Cash (the “Cash Earn-out Consideration”) and half in Restricted Common Stock of the Purchaser (the “Stock Earn-out Consideration”) Ten (“10”) Days after the filing date of the Purchaser’s audited annual report.

	A breakdown of the purchase price for Arctic Solar Engineering, Inc. is as follows:

	Common stock subscribed		$	49,800

	Final Purchase Price Allocation:

	Cash		$	538
	Accounts receivable			131,660
	Inventory			30,627
	Fixed assets - net			337
	Other assets			3
	Patents/IP/Technology			135,000
	Customer base			76,000
	Trade-name/Marks			151,000
	Non-compete			19,000
	Goodwill			22,119
	Liabilities assumed			(516,484	)
			$	49,800

	The following pro-forma assumes the acquisition of Arctic Solar Engineering, Inc. occurred as of the beginning of the period presented as if it would have been reported for the period below.

			Historic								Pro Forma
			EGPI Firecreek,				Arctic Solar				Adjustments				Combined
			Inc.				Engineering
			Twelve Months				Twelve Months
			Ending				Ending
			December 31, 2010				December 31,
							2010
	Revenues
	Gross revenues from sales/services		$	15,705			$	549,811			$	-			$	565,516
	Costs of goods sold			-				534,572				-				534,572
	Total revenue from services rendered			15,705				15,239				-				30,944

	General and administrative expenses:
	General administration			2,146,189				291,316				2,490	A			2,439,995
	Total general & administrative expenses			2,146,189				291,316				2,490				2,439,995

	Net loss from operations			(2,130,484	)			(276,077	)			(2,490	)			(2,409,051	)

	Other revenues and expenses:
	Gain (loss) on asset disposal			-				-								-
	Interest expense			(236,992	)			(1,889	)							(238,881	)
	Impairment of assets			(30,904	)			-								(30,904	)
	Gain (loss) on settlement of debt			(656,192	)			-								(656,192	)
	Gain (loss) on derivatives			(533,846	)			-								(533,846	)

	Net income (loss) before provision for income taxes			(3,588,418	)			(277,966	)			(2,490	)			(3,868,874	)

	Provision for income taxes			-				-				-				-

	Loss from continuing operations			(3,588,418	)			(277,966	)			(2,490	)			(3,868,874	)

Loss from discontinued operations net of tax			(899,036	)			-								(899,036	)

Net Loss		$	(4,487,454	)		$	(277,966	)		$	(2,490	)		$	(4,767,910	)

Other comprehensive income (loss)
Foreign currency translation			219,209				-								219,209
Total comprehensive income (loss)			(4,268,245	)			(277,966	)			(2,490	)			(4,548,701	)

Basic & fully diluted net income (loss) per common share:
Basic income (loss) per share- continuing operations		$	(0.30	)										$	(0.32	)
Basic income (loss) per share- discontinued operations		$	(0.08	)										$	(0.08	)
Basic income (loss) per share		$	(0.38	)										$	(0.40	)

Weighted average of common shares outstanding:
Basic and diluted			11,788,781												11,788,781

Pro Forma Adjustments:

A: Represents 5% fee of the 6,000,000 shares of restricted common stock issued pursuant to security exchange and purchase agreement owed to Source Capital Group, Inc. (300,000 shares with par value of $0.001 and market value at acquisition date of $0.0083)

Per Share Information:
Basic and diluted net loss per share for the twelve months ended December 31, 2010 were computed using the historic weighted average shares of the Company's outstanding common stock, in addition to 6,000,000 shares issued for the former ASE owners as the result of the security exchange and purchase agreement between the Company and ASE.

The following pro-forma assumes the acquisition of Arctic Solar Engineering, Inc. occurred as of the end of the period presented as if it would have been reported for the period below.

		Historic								Pro Forma
		EGPI Firecreek, Inc.				Arctic Solar				Adjustments				Combined
		December 31, 2010				Engineering
						December 31, 2010
ASSETS
Current assets
Cash and cash equivalents		$	9,272			$	988							$	10,260
Accounts receivable, net			14,835				131,660								146,495
Prepaid expenses			5,900				-								5,900
Other receivables			-				-								-
Inventory							30,627								30,627
Current assets held for sale
Cash			658				-								658
Accounts receivable			111,568				-								111,568
Inventory			-				-								-
Prepaid expenses			3,165				-								3,165
Total current assets held for sale			115,391				-				-				115,391
Total current assets			145,398				163,275				-				252,868

Other assets:
Investment in Terra Telecom, Inc.			18,000				-								18,000
Fixed assets – net			568,560				337								568,897
Oil and natural gas properties – proved reserves			163,500				-								163,500

Other assets held for sale
Intangible Assets – net of amortization			743,420				-								743,420
Goodwill			2,001,840				-				380,221	A			2,382,061
Fixed assets - net			21,469				-								21,469
Total other assets			3,516,789				337				380,221				3,897,347
TOTAL ASSETS		$	3,662,187			$	163,612			$	380,221			$	4,206,020

LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities:
Accounts payable & accrued expenses		$	558,489			$	269,033							$	827,522
Notes payable			3,307,224				-								3,307,224
Line of credit			-				36,000								36,000
Convertible notes, net of discount			44,490				-								44,490
Capital lease obligation			56,872				-								56,872
Advances & notes payable - related parties			188,718				-								188,718
Derivative Liabilities			823,846				-								823,846
Asset retirement obligation			5,368				-								5,368
Current liabilities associated with assets held for sale															-
Accounts payable & accrued expenses			2,209,128				-								2,209,128
Advances & notes payable - related parties			-				-								-
Total current liabilities			7,194,135				305,033				-				7,499,168

Long-term liabilities:
Notes payable			-				189,000								189,000
Total long-term liabilities			-				189,000				-				189,000

Shareholders equity
Series A preferred stock, 20 million authorized, par value $0.001,one share convertible to one common share, no stated dividend, none outstanding			-												-
Series B preferred stock, 20 million authorized, par value $0.001,one share convertible to one common share, no stated dividend, none outstanding			-												-
Series C preferred stock, 20 million authorized, par value $.001, each share has 21, 200 votes per share, are not convertible, have no stated dividend; 14,286 shares outstanding at December 31, 2010			14												14
Common stock - $0.001 par value, authorized 3,000,000,000 shares, issued and outstanding, 51,915,345 at December 31, 2010			51,915				1,000				5,300	A,B,C			58,215
Additional paid in capital			25,899,464				105,003				(59,013	)A,B,C			25,945,454
Other comprehensive income			219,209												219,209
Common stock subscribed			1,448,250												1,448,250
Contingent holdback			2,000												2,000
Accumulated deficit			(31,152,800	)			(436,424	)			433,934	B,C			(31,155,290	)
Total shareholders' deficit			(3,531,948	)			(330,421	)			380,221				(3,482,148	)

Total Liabilities & Shareholders' Deficit		$	3,662,187			$	163,612			$	380,221			$	4,206,020

Pro Forma Adjustments:

A: Represents the 12,000 shares of restricted common stock (par value $0.001; market value at acquisition date of $0.0083) issued for the acquisition of Arctic Solar Engineering, LLC pursuant to security exchange and purchase agreement.

B: Represents elimination entry of acquired subsidiary's equity accounts during consolidation

C: Represents 5% fee of the 12,000 shares of restricted common stock issued pursuant to security exchange and purchase agreement owed to Source Capital Group, Inc. (600 shares with par value of $0.001 and market value at acquisition date of $0.0083)

The following pro-forma assumes the acquisition of Arctic Solar Engineering, Inc. occurred as of the beginning of the period presented as if it would have been reported for the period below.

		Historic								Pro Forma
		EGPI Firecreek,				Arctic Solar				Adjustments				Combined
		Inc.				Engineering
		Nine Months				Nine Months
		Ending				Ending
		September 30,				September 30,
		2011				2011
Revenues
Gross revenues from sales		$	185,727			$	47,362							$	233,089
Costs of goods sold			156,337				93,915								250,252
Total revenue from services rendered			29,390				(46,553	)							(17,163	)

General and administrative expenses:
General administration			(1,092,593	)			(129,033	)							(1,221,626	)
Total general & administrative expenses			(1,092,593	)			(129,033	)							(1,221,626	)

Net loss from operations			(1,121,983	)			(175,586	)							(1,297,569	)

Other revenues and expenses:
Gain (loss) on asset disposal			31,970				-								31,970
Interest expense			(607,342	)			(4,990	)							(612,332	)
Gain (Loss) on settlement of debt			(1,235,706	)			-								(1,235,706	)
Gain (loss) on derivatives			113,628				-								113,628

Net income (loss) before provision for income taxes			(2,760,653	)			(180,576	)							(2,941,229	)

Provision for income taxes			-				-

Loss from continuing operations			(2,760,653	)			(180,576	)							(2,941,229	)

Loss from discontinued operations net of tax			(602,885	)

Net Loss		$	(3,063,538	)		$	(180,576	)							(3,244,114	)

Other comprehensive income (loss)
Gain (loss) from Foreign exchange translation			189,613				-								189,613
Total comprehensive income (loss)		$	(2,873,925	)		$	(180,576	)							(3,054,501	)

Basic income (loss) per share- continuing operations		$	(0.67	)										$	(0.025	)
Basic income (loss) per share- discontinued operations			(0.14	)											(0.05	)
Basic income (loss) per share		$	(0.81	)										$	(0.030	)

Weighted average of common shares outstanding:
Basic and diluted			4,333,778												11,521,791

Per Share Information:
Basic and diluted net loss per share for the nine months ended September 30, 2011 were computed using the historic weighted average shares of the Company's outstanding common stock, in addition to 12,000 shares issued for the former ASE owners as the result of the security exchange and purchase agreement between the Company and ASE.


... < Arctic_Solar_Engineering_LLC_A > Acquisition_of_interest_in_oil > Note_Receivable > Income_Tax_Provision > Related_Party_Transactions > Notes_Payable > Capital_Lease_Obligation > Derivative_Liability > Intangible_Assets > Asset_Retirement_Obligation_AR > Discontinued_Operations > Professional_Service_Agreement > ...


Acquisition of interest in oil and gas property	9 Months Ended
	Sep. 30, 2011
Acquisition of interest in oil and gas property	8. Acquisition of interest in oil and gas property

	I. Acquisition of 75% Oil and Gas Working Interests in the J.B. Tubb Leasehold Estate/Amoco Crawar Field, Ward County, Texas

	On March 1, 2011 the Company’s through its wholly owned subsidiary Energy Producers, Inc. (“EPI”) acquired all assets of Ginzoil Inc., (“GZI”) a wholly owned subsidiary of Dutchess Private Equities Fund, Ltd., (Investors”) as described in the preliminary Assignment and Bill of Sale and summarily as follows: Under the terms of the agreement, which shall be effective March 1, 2011, EPI acquired a majority 75% Working Interest and 56.25% corresponding Net Revenue Interest in the North 40 acres of the J.B. Tubb Leasehold Estate/Amoco Crawar field and oil and gas interests, including all related assets, fixtures, equipment, three well heads, three well bores, and pro rata oil & gas revenue and reserves for all depths below the surface to 8500 ft. The field is located in the Permian Basin and the Crawar Field in Ward County, Texas (12 miles west of Monahans & 30 miles west of Odessa in West Texas). Included in the transaction, EPI will also acquire 75% Working Interest and 56.25% corresponding Net Revenue Interest in the Highland Production Company No. 2 well-bore located in the South 40 acres of the J.B. Tubb Leasehold Estate/Amoco Crawar field, oil and gas interests, pro rata oil & gas revenues and reserves with depth of ownership 4700 ft. to 4900 ft. As consideration for the transaction the Company agreed to authorize and issue and sell to Investors 2,500 shares of a new, to be authorized, Series D preferred stock to Investors for one thousand dollars ( $1,000) per share, or a total in the aggregate stated value of two million five hundred thousand ( $2,500,000) dollars. The acquired leases and the property to which they relate are identified below:

	North 40 acres: J.B. TUBB “18-1”, being the W1/2 of the NW1/4 of Section 18, Block B-20, Public School Lands, Ward County, Texas, containing Forty (North 40) acres only (also listed as Exhibit “A” to Exhibit 10.1 in our Current Report on Form 8-K filed on March 7, 2011, incorporated herein by reference.

	Well-bore loated on South 40 acres: The Highland Production Company (Crawar) #2 well-bore, API No. 42-475-33611, located on the J.B. Tubb Lease in W ½ of the NW ¼ of Sec. 18, Block B-20, Public School Lands, Ward County, Texas at 1787 FNL and 853 FWL being on the South Forty (40) acres of the J. B. Tubb Lease, Ward County, Texas.

	The following wells are located on the leases identified, above:

		1	Crawar #1
		2	Tubb #18-1
		3	Highland Production Company(Crawar) #2 well-bore only, with depth of ownership 4700’ to 4900’ft. in well bore, described as: The Highland Production Company (Crawar) #2 well-bore, API No. 42-475-33611, located on the J.B. Tubb Lease in W ½ of the NW ¼ of Sec. 18, Block B-20, Public School Lands, Ward County, Texas at 1787 FNL and 853 FWL being on the South Forty (40) acres of the J. B. Tubb Lease, Ward County, Texas.

	Pursuant to the SPA each share of Series D Preferred Stock shall be convertible, at the sole option of the Investor or holder thereof, into share(s) of the Corporation’s Common Stock (“Conversion Shares”). The Conversion Formula at the time of any noticed and converted shall mean that the number of Conversion Shares (common stock) to be received by the holder of Series D Preferred Stock in exchange for each share of Series D Preferred Stock that such holder intends to convert pursuant to this provision, where such number of Conversion Shares shall be equal to the greater of the number calculated by dividing the Purchase Commitment per share ( $1000) by i) .003 per share, ii) one hundred and ten percent (110%) of the lowest VWAP for the three (3) days immediately preceding a Conversion Date. The Company has agreed to keep a sufficient number of its common shares on hand for future conversions as listed in Section 1 of the SPA. The preferred stock was valued at fair value based on the use of a multinomial lattice model with computed the following assumptions: annual volatility at 238%, 20% of default at maturity, and the holder would convert at 1.5 times the conversion price decreasing as it approaches maturity. The total fair value of these preferred shares was computed to be $3,736,377.

	Listing for the Equipment items related to the wells on the leases on the J.B. Tubb Leasehold Estate (RRC #33611) Amoco/ Crawar field are as follows:

	The following is the current & present equipment list that Energy Producers Inc. will acquire 75% ownership rights, on the J.B. Tubb property: 2 (Two) 500 barrels metal tanks, 1(One) 500 barrel cement salt water tank- (open top), 1 (One) heater treater/oil & gas separator, all flow lines, on the north forty acres, well-heads, 2 (two) Christmas tree valve systems on well-heads, 3 (Three) well heads, three wells (well-bores). Model 320D Pumpjack Serial No. E98371M/456604, One (1) Fiberglass lined heater-treater, One (1) Test pot, Tubing string Rods and down hole pump.

	*Success Oil Co., Inc. of California, and Texas Operator, visually inspected the equipment on the J.B. Tubb property RRC #33611 for the 75% Working Interests held by Energy Producers, Inc., wholly owned subsidiary of EGPI Firecreek, Inc. Based on Success Oil Co.s determination of market value we determined the following allocations of the $2,500,000 purchase price paid based on our corresponding 75% working interests held by Energy Producers, Inc.,

	Allocation of Purchase Price for J.B. Tubb Leasehold Estate Working and Corresponding Net Revenue Interests, Amoco/Crawar Field, Ward County, Texas.

			September 30, 2011
	Well leases		$	3,623,062
	Well property and equipment			113,325
			$	3,736,387

	Oil and Gas Properties:		September 30, 2011			December 31, 2010
	Oil and gas properties – proved reserves		$	3,964,283		$	-
	Accumulated depletion			(131,991	)		-

	Oil and gas properties - net		$	3,832,292		$	-


... < Acquisition_of_interest_in_oil > Note_Receivable > Income_Tax_Provision > Related_Party_Transactions > Notes_Payable > Capital_Lease_Obligation > Derivative_Liability > Intangible_Assets > Asset_Retirement_Obligation_AR > ...


Note Receivable	9 Months Ended
Note Receivable	Sep. 30, 2011
Note Receivable	9. Note Receivable

	On March 14, 2011, the company received a promissory note from the sale of its interest in Terra to a third party. The value of this promissory note is $50,000 and is due 1 year from the date of issuance, along with accrued interest at the rate of 9%. The note includes an optional provision to extend for one additional twelve month period.

	On March 14, 2011, the company received a promissory note from the sale of a subsidiary, SATCO, to a third party. The value of this promissory note is $50,000 and is due 1 year from the date of issuance, along with accrued interest at the rate of 9%. The note includes an optional provision to extend for one additional twelve month period.


... < Note_Receivable > Income_Tax_Provision > ...


Income Tax Provision	9 Months Ended
	Sep. 30, 2011
Income Tax Provision	10. Income Tax Provision

	Deferred income tax assets and liabilities consist of the following at September 30, 2011:

		September 30, 2011
	Deferred Tax asset	$	417,720
	Valuation allowance		(417,720	)
	Net deferred tax assets	$	0

	The Company estimates that it has an NOL carryfoward of approximately $8,587,063 that begins to expire in 2027.

	After evaluating any potential tax consequence from our former subsidiary and our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited. The Company believes that it is current with all payroll and other statutory taxes. Our tax return for the years ended December 31, 2003 to December 31, 2010 may be subject to IRS audit


... < Income_Tax_Provision > Related_Party_Transactions > Notes_Payable > Capital_Lease_Obligation > Derivative_Liability > ...


Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2011
Related Party Transactions	11. Related Party Transactions

	Through May 31, 2009 the Secretary of EGPI Firecreek, Inc provided office space for the Company’s Scottsdale office free of charge. June 1, 2009 Energy Producers, Inc, a 100% owned subsidiary of the Company entered into a month to month lease for the same office space at a rate of $1,400 per month. There remains an unpaid balance of $7,000 at September 30, 2011.

	In addition Energy Producers Inc. also has an Administrative Service Agreement with Melvena Alexander, CPA , which is 100% owned by Melvena Alexander, officer and shareholder of the Company, to provide services to the Company. The agreement is an open-ended, annually renewable contract for payments of $4,600 per month. The contract is currently in force with a balance due of $38,270 at September 30, 2011.

	The Company had a Service Agreement with Global Media Network USA, Inc. a company 100% owned by Dennis Alexander, to provide the services of Dennis Alexander to the Company. The contract terminated May 31, 2009 and there is an outstanding balance of $0 at September 30, 2011.

	The above referenced contract was superseded by a month-to-month contract between Energy Producers, Inc., a 100% owned subsidiary of the Company, and Dennis Alexander, an officer and director of the Company, at a monthly payment of $15,000. There was a balance due on this contract of $252,950 at September 30, 2011.

	The Company had a Service Agreement with Tirion Group, Inc., which was owned by Rupert C. Johnson, a former director of the Company. The contract was terminated in 2007 and Mr. Johnson severed his connection to the Company in 2008. However, there is unpaid balance of $43,000 remaining at September 30, 2011.

	During 2010, Robert Miller, a former director of the Company, made unsecured, non-interest bearing advances to M3 Lighting, Inc. a 100% owned subsidiary of the Company, for working capital of $1,500 which remains unpaid at September 30, 2011.

	During 2010, unsecured, non-interest bearing advances for working capital were made to South Atlantic Traffic Corporation, a 100% owned subsidiary of the Company, by some of its former officers and directors. These advances have not yet been repaid and at September 30, 2011 the following were owed: Michael Kocan - $150,685; Robert Miller - $10,000.

	Chanwest Resourses, Inc, a 100% owned subsidiary of the Company billed Petrolind Drilling, Inc a company in which David Taylor, a director and share holder of the Company, has a substantial interest. The invoice of $9,635 was outstanding at September 30, 2011. Willoil Consulting, LLC also gave unsecured non-interest bearing advances to Chanwest Resourses, Inc. of $15,092. Willoil Consulting, LLC is a company in which David Taylor is a managing member with 80% control. The funds have not been repaid as of September 30, 2011. The Company has accrued $24,892 due to Willoil Consulting, LLC as of September 30, 2011.

	Relative to the May 21, 2009 acquisition of M3 Lighting, Inc. the Company approved an Administrative Services Agreement (ASA), and amended terms thereof, with Strategic Partners Consulting, LLC (SPC).Two of the Company’s officers, directors and shareholders, David H. Ray, Director and Executive Vice President and Treasurer of the Company since May 21, 2009 and Brandon D. Ray Director and Executive Vice President of Finance of the Company, are also owners and managers of SPC. Information is listed in Exhibit 10.1 to a Current Report on form 8-K, Amendment No. 1, filed on June 23, 3009. The ASA initiated on November 4, 2009, in accordance with its terms thereof, and was billed at the rate of $20,833.33 per month. The ASA contract was canceled June 8, 2010. During the three months ending September 30, 2011, no payments were made to SPC, with a balance payable due in the amount of approximately $73,458.

	During the three months ended March 31, 2011, the Company acquired Arctic Solar Engineering, Inc. and a $5,000 promissory note due to Fred Sussman, who remains an officer of Arctic Solar Engineering, Inc. after the acquisition. The balance owing remains $5,000 at September 30, 2011.

	During the three months ended March 31, 2011, the Company acquired Arctic Solar Engineering, Inc. and a $22,409 accounts payable due to Makaritos that is still outstanding at September 30, 2011.

	During the three months ended June 30, 2011, the Company entered into a Promissory Note in the amount of $210,000 with TWL Investments, a LLC (“TWL”) of which Larry W. Trapp, a director of the Company, is a principal owner of TWL. The terms of the note are for 14% interest, with principal and interest all due on or before May 9, 2013. During the 3rd quarter of 2011, principal payments of $ 12,221 were made, leaving a balance of $ 197,779.


... < Related_Party_Transactions > Notes_Payable > ...


Notes Payable	9 Months Ended
Notes Payable	Sep. 30, 2011
Notes Payable	12. Notes Payable

	At September 30, 2011, the Company was liable on the following Promissory notes:

	(see notes to the accompanying table)

	Date of			Date Obligation	Interest			Balance Due
	Obligation	Notes		Matures	Rate (%)			9/30/11 ( $)
	9/17/2009		4	9/17/2010		12			11,350
	5/29/2009		4	9/17/2010		12	*		29,324
	9/17/2009		4	9/17/2010		18	*		3,505
	11/4/2009		11	11/4/2012		9			98,391
	11/4/2009		11	11/4/2012		9			98,391
	11/4/2009		11	11/4/2012		9			98,391
	5/30/2010		2	12/31/2011		8			489,195
	3/1/2010		9	See footnote 10		0			307,333
	4/1/2010		3	6/30/2011		9			21,700
	7/26/2010		5	7/26/2012		10			118,974
	8/10/2010		6	8/10/2012		10			31,750
	8/8/2011		7	5/10/2012		8			15,000
	8/31/2011		8	5/31/2012		8			25,000
	7/1/2011		1	71/2013		18			189,000
	2/18/2010		3	12/1/2010		4			132,228
	2/15/2010		3	2/15/2010		8			201,500
	3/3/2010		10	3/31/2012		10			879,786
	3/4/2011		12	9/8/2011		14			141,581
	3/4/2011		12	9/22/2011		14			100,000
	8/1/2010		13	12/3/2020		2			137,000
	3/24/2010		13	12/31/2020		2			42,000
	8/1/2010		13	12/31/2020		2			5,000
	8/1/2010		13	12/31/2020		2			5,000
	5/31/2011		14	5/31/2013		8			118,090
	6/9/2011		15	5/9/2011		14			197,779
	6/1/2011		16	12/1/2011		8			67,500
	8/11/2011		17	4/11/2012		12			10,000
	8/11/2011		18	4/11/2012		12			6,000
	8/12/2011		19	2/12/2012		10			50,000
	9/12/2011		20	3/12/2012		8			25,000
	9/3/2011		21	3/3/2012		8			20,000
	Unamortized Discount								(260,229	)
	Total								3,415,539



	* Compounded

	Notes:

	Other than as described at Notes 1, 2, 6, 7 and 8 none of the other notes had conversion options.

	Note 1: On January 15, 2010, the Company issued an $86,000 Convertible Promissory Note (“Convertible Note”) and a registration rights agreement (“RRA”) to an investor for making a $1,000,000 cash loan. The Convertible Note has no specified interest rate and was scheduled to mature six months from the closing date. At the investor’s option, the outstanding principal amount, including all accrued and unpaid interest and fees, may be converted into shares of common stock at the conversion price, which is 75% of the lower of (a) $0.08 per share; or (b) the lowest three-day common stock volume weighted average price during the prior twenty business days. In addition, if the Company sells common shares or securities convertible into common shares, the Conversion Price shall become the lower of: (a) the conversion price in effect immediately prior to the sale of securities; or (b) the conversion price of the securities sold.

	The RRA provides both mandatory and piggyback registration rights. The Company was obligated to (a) file a registration statement for 40,000 common shares (subject to adjustment) no later than 14 days after the closing date, and (b) have it declared effective no later than the earlier of (i) five days after the SEC notifies the Company that it may be declared effective or (ii) 90 days from the closing date. The Company was obligated to pay the investor a penalty of $100 for each day that it is late in meeting these obligations. The Company’s registration statement was filed late and on March 18, 2010 it was withdrawn.

	Upon occurrence of an Event of Default (various specified events), the Lender may (a) declare the unpaid principal balance and all accrued and unpaid interest thereon immediately due and payable; (b) at anytime after January 31, 2010, immediately draw on the LOC to satisfy EGPI’s obligations; and (c) interest will accrue at the rate of 18%.

	Upon occurrence of a Trigger event: (a) the outstanding principal amount will increase by 25%; and (b) interest will accrue at the rate of 18%. The Trigger Event effects shall not be applied more than two times. There are various Trigger Events, including (a) the five-day common stock VWAP declines below $0.04; (b) the ten-day average daily trading volume declines below $5,000; (c) a judgment against EGPI in excess of $100,000; (d) failure to file a registration statement on time; (e) failure to cause a registration statement to become effective on time; (f) events of default; and (g) insufficient authorized common shares.

	During the first quarter of 2010, the Company tripped two trigger events and incurred resulting penalties and incremental debt obligation. These events increased the outstanding principal amount of the Convertible Note by approximately $22,000 and $27,000 of trigger penalties.

	It was determined that the Convertible Note’s conversion option, plus other existing equity instruments (warrants outstanding; see Notes 2 and 7 below) of the Company, were required to be (re)classified as derivative liabilities as of January 15, 2010, because (a) the Convertible Note provides conversion price protection; and (b) the quantity of shares issuable pursuant to the conversion option is indeterminate. The conversion option and the related instruments were initially valued at $63,080 (expected term of 0.5 years; risk-free rate of 0.15%; and volatility of 95%) and this amount was recorded as a note discount and derivative liability. The derivative liabilities were then marked to the market to an aggregate value of $16,158 (expected term of 0.3 years; risk-free rate of 0.16%; and volatility of 95%) at December 31, 2010.

	On May 12, 2010, the parties to the Convertible Note executed a Waiver of Trigger Event, which stipulated: (1) the principal outstanding on the Convertible Note was fixed at $147,500 as of May 12, 2010; (2) the remaining impact of the trigger events and failure to register the shares was waived; (3) the interest rate was reset at 9%; (4) the number of shares issuable under the conversion option was capped at 150 million shares; (5) the repricing provision of the conversion option was eliminated; and (6) the maturity date of the note was revised to August 15, 2010. In addition, if the market price of the Company’s common stock declines such that the conversion option would be capped at the agreed 150 million shares, the repayment date is accelerated and the outstanding balance on the note is immediately due and payable. As a result of the above, the conversion option and related instruments were revalued as of May 12, 2010 and were reclassified to paid-in-capital (equity) in the amount of $50,303 (expected term of 0.3 years; risk-free rate of 0.16%; and volatility of 95%).

Effective August 3, 2010 the Company entered into a Promissory Note in the amount of $153,046 with an entity that had acquired and then exchanged the Debt described above. The terms of the Promissory Note are for 8% interest, with principal and interest all due on or before August 3, 2012. In July 2011 a judgment was issued for $202,000 to be paid over two years with no interest, except if there is a default, then interest of 18% will accrue.

Note 2: For the nine months ended September 30, 2011, we have received cash proceeds of $75,792 for these debt obligations, settled $369,895 in debt for common stock, and repaid $31,500, yielding a balance of $489,195 at the period end.

Note 3: For the nine months ended September 30, 2011 the Company has an additional debt obligation of $21,700 for which no payments were made during the period. The company also had a promissory note of $201,500 for which no payments were made during the period. The company also had a promissory note of $131,256 for which no payments were made during the period and included $2,928 in accrued interest added to the principal value of the note.

Note 4: During 2009 we received cash proceeds for the aggregate amount of $44,179, which is payable in principal and interest with rates ranging from 12-18%.

Note 5: On July 26, 2010, we issued a $165,000 secured convertible promissory note that is convertible at the election of the holder any time after issuance, or upon an Event of Default, or when due in 24 months on July 26, 2012. While the notes have not yet become due or repaid in full, there was no Event of Default as of September 30, 2011, or thereafter. The Company evaluated the note and determined that the shares issuable pursuant to the conversion option were indeterminate and therefore this conversion option and all other dilutive securities would be classified as a derivative liability as of July 26, 2010. This note also contains conversion price reset provisions which also factor into the derivative value. The July 26, 2010 value of the conversion option (expected term of 2.0 years; risk-free rate of 0.62%; and volatility of 95%) of $165,000 was recorded as a note discount, to be amortized over the life of the note, and derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $35,651. The discount is amortized using the effective interest method. During the 3rd quarter, the Company made no payments on the principal.

Note 6: On August 10, 2010, we issued a $35,000 convertible promissory note that is convertible at the election of the holder any time after issuance, or upon an Event of Default, or when due in 24 months on August 10, 2012. While the notes have not yet become due or repaid, there was no Event of Default as of March 31, 2011, or thereafter. The Company evaluated the note and determined that, because the shares issuable pursuant to the July 26, 2010 convertible note are indeterminate, the conversion option associated with this note is deemed to be a derivative liability. This note also contains conversion price reset provisions which also factor into the derivative value. The August 10, 2010 value of the note of $35,000 (expected term of 2.0 years; risk-free rate of 0.52%; and volatility of 95%) was recorded as a note discount, to be amortized over the life of the note, and derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $4,730. A portion of the note, $3,250, was converted during the period into shares of common stock of the Company. The discount is amortized using the effective interest method.

Note 7: On August 8, 2011, we issued a $15,000 convertible promissory note that is convertible at the election of the holder any time after issuance, or upon an Event of Default, or when due in 9 months on May 8, 2012. While the notes have not yet become due or repaid, there was no Event of Default as of September 30, 2011, or thereafter. The Company evaluated the note and determined that, because the shares issuable pursuant to the July 26, 2010 convertible note are indeterminate, the conversion option associated with this note is deemed to be a derivative liability. This note also contains conversion price reset provisions which also factor into the derivative value. The August 8, 2011 value of the note of $15,000 was recorded as a note discount, to be amortized over the life of the note, and derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $3,333. The discount is amortized using the effective interest method.

Note 8: On August 31, 2011, we issued a $25,000 convertible promissory note that is convertible at the election of the holder any time after issuance, or upon an Event of Default, or when due in 9 months on May 31, 2012. While the notes have not yet become due or repaid, there was no Event of Default as of September 30, 2011, or thereafter. The Company evaluated the note and determined that, because the shares issuable pursuant to the July 26, 2010 convertible note are indeterminate, the conversion option associated with this note is deemed to be a derivative liability. This note also contains conversion price reset provisions which also factor into the derivative value. The September 31, 2011 value of the note of $25,000 was recorded as a note discount, to be amortized over the life of the note, and derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $5,556. The discount is amortized using the effective interest method. .

Note 9: On March 1, 2010, we issued non-interest bearing, convertible notes for services, renewable annually until paid through conversions. The total debt owing under these agreements is $180,000, which is composed of two $90,000 debts owed to two professional service firms. During the nine months ended September 30, 2011, an additional $240,000 in promissory notes were issued to these firms for services provided. These notes can be converted at 50% of the closing price of the stock on the day preceding the conversion date. The Company evaluated the note and determined that, because the shares issuable pursuant to the July 26, 2010 convertible note are indeterminate, the conversion option associated with this note is deemed to be a derivative liability. During the nine months ended September 30, 2011, $112,667 of these notes were settled by the issuance of common stock.

Note 10: For the period ended September 30, 2011 we have additional balance on debt obligations owed totaling $879,786, related to the acquisition of a subsidiary in March 2010. A total of $782,083 of this debt was settled by the issuance of stock during the nine months ended September 30, 2011.

Note 11: Promissory notes totaling $295,173, which were issued in conjunction with the acquisition of SATCO.

Note 12: Accounts Payable of $141,581 due to Contegra Construction by Energy Ventures One, Inc, a Company subsidiary was converted to a Note Payable in March 2011. Energy Ventures One also has a Line of Credit with Masters Equipment, Inc. with a balance due of $100,000 at September 30, 2011.

Note 13: The Company’s subsidiary Arctic Solar Engineers issued promissory notes to various individuals for working capital, all maturing in 2020 at an interest rate of 2%. Additional interest expense was not imputed on these balances due to materiality.
Note 14: For the nine months ended September 30, 2011, we have received cash proceeds for these debt obligations of $118,090 and that is the balance owing at September 30, 2011.

Note 15: Effective May 9, 2011 the Company entered into a Promissory Note in the amount of $210,000. The terms of the note are for 14% interest, with principal and interest all due on or before May 9, 2013. During the nine months ended September 30, 2011, principal payments of $12,221 were made, leaving a balance of $197,779.

Note 16: Effective June 1, 2011 the Company entered into a Promissory Note in the amount of $39,000. The terms of the note are for 8% interest only, with principal and interest all due on or before December 1, 2011. Effective September 2, 2011, the Company entered into an additional Promissory Note in the amount $20,500 with same terms due on or before March 2 2012. Also on September 28, 2011, the Company entered into an additional Promissory Note in the amount of $8,000, same terms, due on or before March 28, 2012 bringing the total owed to $67,500 at September 30,2011.

Note 17: Effective August 11, 2011, the Company entered into a Convertible Promissory Note in the amount of $10,000. The terms of the note are 12% interest, with principal and interest all due on or before April 11, 2012. On or after the maturity date, the note may be converted based on the outstanding and unpaid principal and interest amount into fully paid and non-assessable shares of common stock at a 50% discount to the fair market value of the stock price at the time of conversion. The Company evaluated the note and determined that because the shares issuable pursuant to the August 11, 2011 convertible note are indeterminate, the conversion option associated with this note is deemed a derivative liability. This note also contains conversion price reset provisions which factor into the derivative value. The August 11, 2011 value of the note of $10,000 was recorded as a note discount, to be amortized over the life of the note, and derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $1,667. The discount is amortized using the effective interest method.

Note 18: Effective August 11, 2011, the Company entered into a Convertible Promissory Note in the amount of $31,500. The terms of the note are 12% interest, with principal and interest all due on or before April 11, 2012. On or after the maturity date, the note may be converted based on the outstanding and unpaid principal and interest amount into fully paid and non-assessable shares of common stock at a 50% discount to the fair market value of the stock price at the time of conversion. The Company evaluated the note, and determined that because the shares issuable are indeterminate, the conversion option associated with this note is deemed a derivative liability. The August 11, 2011 value of the note of $31,500 was recorded as a note discount to be amortized over the life of the note and derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $5,250. The discount is amortized using the effective interest method.

Note 19: Effective August 12, 2011 the Company entered into a Convertible Promissory Note in the amount of $50,000. The terms of the note are for 10% interest, with principal and interest all due on or before February 12, 2012. On, or after, the maturity date, the note may be converted based on the outstanding and unpaid principal and interest amount into fully paid and non- assessable shares of common stock at a 50% discount to the fair market value of the stock price at the time of conversion. The Company evaluated the note, and determined that because the shares issuable are indeterminate, the conversion option associated with this note is deemed a derivative liability. The August 12, 2011 value of the note of $50,000 was recorded as a note discount to be amortized over the life of the note, and derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $16,667. The discount is amortized using the effective interest method.

Note 20: Effective September 12, 2011 the Company entered into a Convertible Promissory Note in the amount of $25,000. The terms of the note are for 8% interest, with principal and interest all due on or before March 12, 2012. On or after the maturity date, the note may be converted based on the outstanding and unpaid principal and interest amount into fully paid and non-assessable shares of common stock at a 50% discount to the fair market value of the stock price at the time of conversion. The Company evaluated the note and determined that because issuable shares are indeterminate, the conversion option associated with this note is deemed a derivative liability. For the nine months ended September 30, 2011, the Company recognized note discount amortization of $4,167. The discount is amortized using the effective interest method.

Note 21: Effective September 3, 2011 the Company entered into an Unsecured Promissory Note in the amount of $20,000. The terms of the note are for 8% per annum interest, with principal and interest all due on or before March 3, 2012.

Although a portion of our debt is not due within 12 months, given our working capital deficit and cash positions and our ability to service the debt on a long term basis is questionable, the notes are all effectively in default and treated as current liabilities.


... < Common_and_Preferred_Stock_Tra < Preferred_Stock_Series < Fixed_Assets_and_Oil_and_Gas_P < Options_Warrants_Outstanding < Arctic_Solar_Engineering_LLC_A < Acquisition_of_interest_in_oil < Note_Receivable < Income_Tax_Provision < Related_Party_Transactions < Notes_Payable > Capital_Lease_Obligation > Derivative_Liability > Intangible_Assets > Asset_Retirement_Obligation_AR > Discontinued_Operations > Professional_Service_Agreement > Concentrations_and_Risk > Contingencies > Subsequent_Events > Segment_Reporting > Sheet1


Capital Lease Obligation	9 Months Ended
Capital Lease Obligation	Sep. 30, 2011
Capital Lease Obligation	13. Capital Lease Obligation

	During the year ended December 31, 2010, the Company entered into a lease for equipment which included the promise to make monthly payments of $5,000 for 12 months with a bargain purchase option at the end of the lease. This lease is accounted for as a capital lease in which the present value of the future payments is recorded as a liability of $56,872. The discount rate is 10%. As of September 30, 2011, there were no payments made on this lease and the entire balance is classified as a current liability.


... < Capital_Lease_Obligation > Derivative_Liability > ...


Derivative Liability	9 Months Ended
	Sep. 30, 2011
Derivative Liability	14. Derivative Liability

	The Company evaluated the conversion feature embedded in the convertible notes to determine if such conversion feature should be bifurcated from its host instrument and accounted for as a freestanding derivative. Due to the note not meeting the definition of a conventional debt instrument because it contained a diluted issuance provision, the convertible notes were accounted for in accordance with ASC 815. According to ASC 815, the derivatives associated with the convertible notes were recognized as a discount to the debt instrument, and the discount is being amortized over the life of the note and any excess of the derivative value over the note payable value is recognized as additional interest expense at issuance date.

	Further, and in accordance with ASC 815, the embedded derivatives are revalued at each balance sheet date and marked to fair value with the corresponding adjustment as a “gain or loss on change in fair value of derivatives” in the consolidated statement of operations. As of September 30, 2011, the fair value of the embedded derivatives included on the accompanying consolidated balance sheet was $671,824. During the three and nine months ended September 30, 2011, the Company recognized a gain on change in fair value of derivative liability totaling $208,031 and $113,628, respectively. Key assumptions used in the valuation of derivative liabilities associated with the convertible notes at September 30, 2011 were as follows:

	·	The stock price would fluctuate with an annual volatility ranging from 122% to 452% based on the historical volatility for the company.
	·	An event of default would occur 5% of the time, increasing 0.10% per month.
	·	Alternative financing for the convertible notes would be initially available to redeem the note 0% of the time and increase quarterly by 1% to a maximum of 20%.
	·	The trading volume would average $658,217 and would increase at 1% per month.
	·	The holder would automatically convert the notes at a stock price of the greater of the initial exercise price multiplied by two and the market price for the convertible notes if the registration was effective and the company was not in default.


	The Company classifies the fair value of these securities under level three of the fair value hierarchy of financial instruments. The fair value of the derivative liability was calculated using a lattice model that values the compound embedded derivatives based on a probability weighted discounted cash flow model. This model is based on future projections of the various potential outcomes. The embedded derivatives that were analyzed and incorporated into the model included the conversion feature with the full ratchet reset, and the redemption options.

	The components of the derivative liability on the Company’s balance sheet at September 30, 2011 and December 31, 2010 are as follows:

			September 30, 2011		December 31, 2010
	Embedded conversion features - convertible promissory notes		$	671,824	$	820,400
	Common stock warrants			0		3,426
			$	671,824	$	823,846


... < Derivative_Liability > Intangible_Assets > Asset_Retirement_Obligation_AR > Discontinued_Operations > Professional_Service_Agreement > Concentrations_and_Risk > Contingencies > Subsequent_Events > ...


Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2011
Intangible Assets	15. Intangible Assets

	The company had the following intangible assets recorded as of September 30, 2011 and December 31, 2010. The useful lives for these assets are contained within the accounting policies in Note 1.

													Balance
		Balance			Additions			Deletions			Impairment		September 30,
		December 31, 2010			Additions			Deletions			Impairment		2011
	SATCO
	Trade name	$	661,000		$	-		$	(661,000	)	$	-	$	-
	Customer Relationships		163,000						(163,000	)				-
	Accum. Amort. - Intangibles		(80,580	)					80,580					-
	Arctic Solar Engineering
	Patents					135,000								135,000
	Customer Base					76,000								76,000
	Trademark					151,000								151,000
	Non-Compete					19,000								19,000
	Accum. Amort. – Intangibles					(50,064	)							(50,064	)
		$	743,420		$	330,936		$	(743,420	)	$	-	$	330,936


... < Intangible_Assets > Asset_Retirement_Obligation_AR > Discontinued_Operations > Professional_Service_Agreement > Concentrations_and_Risk > Contingencies > Subsequent_Events > Segment_Reporting > ...


Asset Retirement Obligation (ARO)	9 Months Ended
Asset Retirement Obligation (ARO)	Sep. 30, 2011
Asset Retirement Obligation (ARO)	16. Asset Retirement Obligation (ARO)

	The ARO is recorded at fair value and accretion expense is recognized as the discounted liability is accreted to its expected settlement value. The fair value of the ARO liability is measured by using expected future cash outflows discounted at the Company’s credit adjusted risk free interest rate.

	Amounts incurred to settle plugging and abandonment obligations that are either less than or greater than amounts accrued are recorded as a gain or loss in current operations. Revisions to previous estimates, such as the estimated cost to plug a well or the estimated future economic life of a well, may require adjustments to the ARO and are capitalized as part of the costs of proved oil and natural gas property.

	The following table is a reconciliation of the ARO liability for continuing operations at September 30, 2011 and December 31, 2010:

		September 30, 2011		December 31, 2010
	Asset retirement obligation at the beginning of period	$	5,368	$	4,337
	Liabilities incurred
	Revisions to previous estimates		10,024		1,031
	Dispositions
	Accretion expense

	Asset retirement obligation at the end of period	$	15,392	$	5,368


... < Derivative_Liability < Intangible_Assets < Asset_Retirement_Obligation_AR > Discontinued_Operations > Professional_Service_Agreement > Concentrations_and_Risk > Contingencies > Subsequent_Events > Segment_Reporting > Sheet1


Discontinued Operations	9 Months Ended
Discontinued Operations	Sep. 30, 2011
Discontinued Operations	17. Discontinued Operations

	On March 14, 2011, the Company entered into and completed a definitive Stock Purchase Agreement whereby EGPI Firecreek, Inc. would sell 100% of the common shares of SATCO to Distressed Asset Acquisitions, Inc.

	The consideration being paid by Distressed Asset Acquisitions, Inc. consists of a $50,000 in the form of a promissory note (the “Purchase Price”). The promissory note is to be paid to the Company on or before March 14, 2012 in lawful money of the United States of America and in immediately available funds the principal sum of $50,000, together with interest on the unpaid principal of this Note from the date hereof at the interest rate of Nine Percent (9%). The Note can be extended for one additional twelve month period. The loss on disposal is $586,924 and is recognized in the financial statements on the disposal date.

	Please refer to the Form 8-K filed with the SEC on March 18, 2011.

	The results of discontinued operations is a net loss of $602,885 for the nine months ended September 30, 2011 and $500,507 for 2010.

	All assets and liabilities of SATCO are segregated in the balance sheet and appropriately labeled as held for sale in 2010.


... < Discontinued_Operations > Professional_Service_Agreement > ...


Professional Service Agreements	9 Months Ended
Professional Service Agreements	Sep. 30, 2011
Professional Service Agreements	18. Professional Service Agreements

	On March 1, 2010, the Company entered into two professional service agreements (the “Agreements”) which are intended to be automatically renewable annually. Aggregate fees pursuant to the Agreements are comprised of (a) $20,000 in cash per month which has been accrued through the period ended March 31, 2011; (b) a one-time issuance of 120,000 shares of restricted common stock; and (c) three-year warrants, which vest six months from the grant date, to purchase for $20,000 the lower of (i) shares of common stock representing 1% of the Company’s outstanding common stock; or (ii) shares of common stock representing a fair market value of $150,000. In addition, the vendors are entitled to convert any unpaid cash fees into common stock at a 50% discount to the fair market value of the stock on the date of conversion. On April 1, 2011 the contracts were renewed with aggregate fees of $30,000 per month which have been accrued through the period ended September 30, 2011. In this renewal, the conversion provision was eliminated and the amounts owed are no longer convertible.


... < Professional_Service_Agreement > Concentrations_and_Risk > ...


Concentrations and Risk	9 Months Ended
Concentrations and Risk	Sep. 30, 2011
Concentrations and Risk	19. Concentrations and Risk

	Customers

	During the three and nine months ended September 30, 2011, revenue generated under the top five customers accounted for 85% and 95%, respectively, of the Company’s total revenue. Regarding oil and gas sales at this time, there is only one field supplying revenues. Concentration with a single or a few customers may expose the Company to the risk of substantial losses if a single dominant customer stops conducting business with the Company. Moreover, the Company may be subject to the risks faced by these major customers to the extent that such risks impede such customers’ ability to stay in business and make timely payments.


... < Concentrations_and_Risk > Contingencies > ...


Contingencies	9 Months Ended
Contingencies	Sep. 30, 2011
Contingencies	20. Contingencies

	The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of its business activities. Management believes that any liability that may ultimately result from the resolution of these matters will not have a material adverse effect on the financial condition or results of operations of the Company.

	In October 2010 we received notice of a lawsuit filed against the Company by St. George Investments LLC relating to certain Agreements entered on January 15th, 2010 by EGPI Firecreek Inc. and St. George Investments LLC which include: i) Note Purchase Agreement, ii) Convertible Promissory Note, iii) Judgment by Confession and iv) Registration Rights Agreement. St. George Investments LLC believes that EGPI Firecreek is in breach of terms agreed upon pursuant to the aforementioned agreements and sought damages totaling $262,585 (includes principal, interest and all penalties/fees pursuant to plaintiff's initial disclosures dated 3/28/11). In July 2011, the Company and St. George Investments LLC entered into a settlement agreement where the Company agreed to pay $202,000 on various payment terms beginning with $10,000 on signing of agreement, followed by five payments beginning August through December 2011, and thereafter payments for 18 months in the amount of $6,158. St. George now claims EGPI defaulted on the payment schedule and entered a Confession of Judgment. On September 23, 2011, EGPI Firecreek, Inc. received notice that St. George Investments LLC had filed a second lawsuit arising out of the same claims. The Company is moving to set aside the Confession of Judgment on this basis and is answering and vigorously defending the second lawsuit.

	As noted in our business combination footnote our SATCO acquisition contained certain make whole provisions that may impact us in the future. In accordance with the make whole provision of the acquisition agreement pertaining to SATCO, $988,720 has been recorded in common stock subscribed for additional contingent consideration that is owed as of December 31, 2009. The make whole provision provided that the owners of SATCO would be protected from decreases in the stock price of the Company for 1 year subsequent to the acquisition date. The one year anniversary of the acquisition is November 4, 2010. As of this date, the total fair value of the contingent consideration owed in common shares is $1,119,580. In accordance with ASC 805-30-35 pertaining to subsequent measurement of contingent consideration pursuant to a business combination, the additional $130,860 is not recorded due to the fact that this consideration is recorded in equity. This amount will be recognized upon issuance of the shares in settlement of the amount owed.

	In May 2011 the Company received a lawsuit by Edelweiss Enterprises Inc. dba The Small Business Money Store (“SMBS”) seeking a judgment to collect amounts allegedly owed it relating to an account receivable factoring agreement, to the former subsidiary SATCO, in the total aggregate amount of $48,032. The Company believes that it is not liable, and will vigorously defend its position.

	In August 2011, the Company received a lawsuit notice on behalf of our wholly owned subsidiary Energy Ventures One Inc whereas Contegra Construction Company LLC (“CCC”) is seeking a judgment to collect amounts owed it relating to a promissory note in the amount of $157,767, which includes interest and late fees. The Company is not named in the legal proceeding.

	In August 2011, the Company received a lawsuit notice on behalf of itself and our wholly owned subsidiary Energy Ventures One Inc. and Arctic Solar, LLC by Masters Equipment Services, Inc. (“Masters”) seeking a judgment to collect amounts allegedly owed it relating to a promissory note in the amount of $110,153, including interest and late fees. The Company is one of several parties named in the proceeding and is prepared to vigorously defend its position.

	As noted in our debt footnote above, we have certain notes that may become convertible in the future and potential result in further dilution to our common shareholders.

	In July 2010 our Chanwest Resources, Inc. subsidiary operation (“CWR”) entered into a purchase lease agreement with Circle D Trucking of Texas which includes a right to purchase the leased equipment valued at $164,500.


... < Contingencies > Subsequent_Events > ...


Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2011
Subsequent Events	21. Subsequent Events


	In October 2011, the Company issued 12,383,960 shares of common stock to reduce debt owed to a debt holder.

	In October 2011, the Company issued 2,957,149 shares to reduce debt on convertible promissory notes.

	In October 2011, the Company issued 2,000,000 shares to various consultants for services rendered.

	In November 2011, the Company issued 17,723,292 shares of common stock to reduce debt owed to a debt holder.

	In November 2011, the Company issued 2,178,649 shares to reduce debt on convertible promissory notes.

	In October 13, 2011 the Company and its wholly owned subsidiary Energy Producers, Inc. (EPI) modified the terms of its existing May 9, 2011 promissory note Agreement issued to TWL Investments a LLC, an Arizona limited liability company (TWL). Both the Agreement and Promissory Note is listed on Exhibit 10.1 to our Current Report on Form 8-K filed on May 13, 2011. The material terms for the modification include: TWL will i) allow EGPI to defer the regular monthly payments and other amounts due under the Promissory Note through the payment due January 9, 2012, ii) not initiate any default notice or foreclosure action for non payment provided that the Company remains in compliance with the terms and conditions stated therein, iii) amortize a new Face Amount over a new 24 month period commencing on January 9, 2012 thereby extending the term of the Promissory Note by approximately 7 months upon amendment of the Face Amount of the Promissory Note to reflect the amounts due plus all then amounts applicable and accumulated during the deferred period. EGPI and EPI as part of the modified terms have agreed to i) diligently seek to secure funding for the planned “Fracking” of wells on the Tubbs oil lease, ii) agree that in consideration of TWL’s forbearance accommodations, that all interest, late fees, costs and charges applicable under the Promissory Note and Security Agreement be added to the Face Amount of the Promissory Note (unless adjusted by any payments received) and thereon amended to read $315,625.51 as of December 9, 2011 with the first payment now being due on January 9, 2012.

	In October 2011, the Company issued convertible promissory notes to certain institutional or accredited investors in the amount of $17,000 all due seven and one half (7.5) months from the date of issuance, respectively, unless otherwise mutually agreed for extension. The proceeds are to be used for general working capital in the normal course of business.


... < Subsequent_Events > Segment_Reporting > Sheet1


Segment Reporting	9 Months Ended
Segment Reporting	Sep. 30, 2011
Segment Reporting	22. Segment Reporting

	We classify our operations into two main business lines: (1) Solar Thermal Energy, and (2) Oil and Gas. This segmentation best describes our business activities and how we assess our performance. Information about the nature of these segment services, geographic operating areas and customers is described in the Company’s 2010 Annual Report. Summarized financial information by business segment for the three and nine months ending September 30, 2011 is presented below. All segment revenues were derived from external customers. As more fully disclosed in the Company’s fiscal year 2010 Annual Report, we had no operations in these business segments until our acquisitions of Arctic Solar Engineering, LLC on February 4, 2011 (Solar Thermal Energy), and the beginning operations of Energy Producers, Inc. (Oil and Gas).

	For the three months ending September 30, 2011,

		Solar			Oil & Gas			All Other (a)			Totals
		Thermal
		Energy

	Net revenues		-			8,712			(695	)		8,017
	Depreciation & amortization		-			101,481			-			101,481
	Income (loss) from operations		(14,890	)		(63,415	)		(673,252	)		(751,557	)
	Interest expense		893			-			313,561			314,454
	Segment assets		214,273			3,999,983			818,096			5,032,352

	For the nine months ending September 30, 2011,

		Solar			Oil &			All Other (a)			Totals
		Thermal			Gas
		Energy

	Net revenues		(34,294	)		29,390			-			(4,904	)
	Depreciation & amortization		-			132,433			-			132,433
	Income (loss) from operations		(157,677	)		(224,132	)		(2,536,521	)		(2,918,330	)
	Interest expense		4,564			-			607,342			611,906
	Segment assets		214,273			3,999,983			818,096			5,032,352

	The following are reconciliations of reportable segment revenues, results of operations, assets and other significant items to the Company’s consolidated totals (amounts stated in thousands):

		Three Months Ended			Nine Months Ended
		September 30, 2011			September 30, 2011
	Net revenues:
	Total for reportable segments		8,712			(4,904	)
	Corporate		(695	)		-
			8,017			(4,904	)
	Depreciation and amortization:
	Total for reportable segments		101,481			132,433
	Corporate		-			-
			101,481			132,433
	Income (loss) from operations:
	Total for reportable segments		(78,305	)		(381,809	)
	Corporate		(673,252	)		(2,536,521	)
			(751,557	)		(2,918,330	)
	Interest expense:
	Total for reportable segments		893			4,564
	Corporate		313,561			607,342
			314,454			611,906
	Segment assets:
	Total for reportable segments		4,214,256			4,214,256
	Corporate		818,096			818,096
			5,032,352			5,032,352


... < Preferred_Stock_Series < Fixed_Assets_and_Oil_and_Gas_P < Options_Warrants_Outstanding < Arctic_Solar_Engineering_LLC_A < Acquisition_of_interest_in_oil < Note_Receivable < Income_Tax_Provision < Related_Party_Transactions < Notes_Payable < Capital_Lease_Obligation < Derivative_Liability < Intangible_Assets < Asset_Retirement_Obligation_AR < Discontinued_Operations < Professional_Service_Agreement < Concentrations_and_Risk < Contingencies < Subsequent_Events < Segment_Reporting > Sheet1


... < Segment_Reporting < Sheet1

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