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

HOUSTON--(BUSINESS WIRE)--Echo Satellite Communications, Inc. (Other OTC:ECSC - News) announced today that it has entered into a letter of intent to acquire the assets of Houston, Texas-based Xeric Oil & Gas Corp. ("Xeric"). The transaction gives ECSC working interests in more than 200 productive oil, natural gas and water disposal well properties located in Montana, New Mexico and Wyoming. ECSC will continue to operate its satellite communications and remote video surveillance businesses

"We have been searching for an opportunity to join with an aggressive, forward-thinking public company," said Ron St. John, Xeric's President and Chief Executive Officer.

"We anticipate ECSC will provide us with resources and capabilities to enhance and optimize our present hydrocarbon production capability," he continued, "and the ECSC leadership team will play an instrumental role in the organization and growth of our oil and natural gas origination opportunities. We look forward to closing, combining our teams and delivering quality energy, communications, and surveillance solutions to our stakeholders."

Echo Satellite Communications
Known for its ability to design, implement and commercialize satellite communications technology solutions, ECSC has a full array of wireless, non-line-of-sight communications solutions to offer to military, governmental, first responder, and industrial users for whom communication is not optional, it is critical. For more information, please visit www.echosatcom.com; or view our information video at www.angelvisiontech.com/clients/echo_satellite.

Safe Harbor Statement
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Echo Satellite Communications, Inc., (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the Company, its directors, or its officers about the Company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.

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