UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                   FORM 10-QSB

              [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE
                      SECURITIES AND EXCHANGE ACT OF 1934.

                  For the quarterly period ended March 31, 2006
                                                 --------------

                         Commission File Number: 0-32507


                              EGPI FIRECREEK, INC.
                     (Exact name of registrant as specified
                                in its charter.)


            NEVADA                                        8-0345961
            ------                                        ---------
(STATE OR OTHER JURISDICTION OF             (I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION OR ORGANIZATION)


                              6564 Smoke Tree Lane
                            Scottsdale, Arizona 85253
                            -------------------------
                    (Address of principal executive offices)

                                 (480) 948-6581
                            -------------------------
                           (Issuer's telephone number)

                             Energy Producers, Inc.
                             ----------------------
         (Former name, former address, and former fiscal year if changed
                               since last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                 YES [X] NO [_]

State the number of shares outstanding of each of the issuer's classes of common
stock as of the latest practicable date:

As of March 31st, 2006, the issuer had 258,173,350 shares of its $0.001 par
value common stock issued and outstanding. There are -0- shares of Series A, B,
or C Preferred Stock at $.001 par value for each of the Series of Preferred, and
no shares of non-voting common stock outstanding.


                                       1
<PAGE>


                               EGPI FIRECREEK, INC
                          F/K/A ENERGY PRODUCERS, INC.

                                     10-QSB
                                 March 31, 2006

                                Table of Contents
                                -----------------

PART 1: FINANCIAL INFORMATION

Item 1. Financial Statements - Unaudited

Consolidated Balance Sheets .......................................    3

Consolidated Statement of Operations ..............................    4

Consolidated Statement of Cash Flows ..............................    5

Consolidated Statement of Changes in Shareholders' Equity .........    6

Notes to the Unaudited Consolidated Financial Statements ..........    7

Item 2. Management's Discussion and Analysis
        or Plan of Operation ......................................   13

Item 3. Controls and Procedures ...................................   16

PART II: OTHER INFORMATION

Item 1 - Legal Proceedings ........................................   16

Item 2 - Unregisterd Sales of Equity Securities and Use of Proceeds   17

Item 3 - Defaults upon Senior Securities ..........................   17

Item 4 - Submission of Matters to a Vote of Security Holders ......   17

Item 5 - Other Information ........................................   17

Item 6 - Exhibits .................................................   18

         Certifications

Signature .........................................................   19



                                       2
<PAGE>



                              EGPI FIRECREEK, INC.
                        (FORMERLY ENERGY PRODUCERS, INC.)
                           CONSOLIDATED BALANCE SHEETS
                   AS OF MARCH 31, 2006 AND DECEMBER 31, 2005
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                                      UNAUDITED
<S>                                                                                                <C>                 <C>
ASSETS                                                                                               31-MAR-2006         31-DEC-05

Current assets:
   Cash                                                                                                  $1,541            $149,962
   Accounts receivable                                                                                    2,653                   0
                                                                                                   ------------        ------------
        Total current assets                                                                             $4,194            $149,962

Other assets:
   Fixed assets- net                                                                                    688,923             697,859
   Other receivables                                                                                      3,364               2,759
                                                                                                   ------------        ------------


        Total assets                                                                                   $696,481            $850,580
                                                                                                   ============        ============


LIABILITIES AND SHAREHOLDERS' DEFICIT

Current liabilities:
   Accounts payable & accrued expenses                                                                 $514,845            $303,436
   Notes payable                                                                                      3,060,100           3,204,427
                                                                                                   ------------        ------------
        Total current liabilities                                                                     3,574,945           3,507,863

   Advances payable to shareholders                                                                    $149,557            $147,780
   Convertible debentures payable-net                                                                   118,530              26,195
                                                                                                   ------------        ------------
        Total liabilities                                                                             3,843,032           3,681,838

   Net liabilities of discontinued operations                                                            78,352              78,352

Shareholders' deficit:
   Series A preferred stock, 20 million authorized, par value $0.001,one share
        convertible to one common share, no stated dividend, none outstanding                                $0                  $0
   Series B preferred stock, 20 million authorized, par value $0.001,one share
        convertible to one common share, no stated dividend, none outstanding                                 0                   0
   Series C preferred stock, 20 million authorized, stated value $.001,one share
        convertible to ten common shares, no stated dividend                                                  0           1,539,000
   Common stock- $.001 par value, authorized 900,000,000 shares,
        issued and outstanding, 258,173,350 at March 31, 2006 and
        220,913,500 shares at December 31, 2005                                                         258,172             220,913
   Additional paid in capital                                                                        17,833,295          15,878,127
   Accumulated deficit                                                                              (21,316,370)        (20,547,650)
                                                                                                   ------------        ------------
        Total shareholders' deficit                                                                  (3,224,903)         (4,448,610)
                                                                                                   ------------        ------------

        Total Liabilities & Shareholders' Deficit                                                      $696,481            $850,580
                                                                                                   ============        ============
</TABLE>

SEE THE NOTES TO THE FINANCIAL STATEMENTS.


                                       3
<PAGE>



                              EGPI FIRECREEK, INC.
                        (FORMERLY ENERGY PRODUCERS, INC.)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
            FOR THE QUARTERS ENDED MARCH 31, 2006 AND MARCH 31, 2005
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                             UNAUDITED                UNAUDITED
                                                                                             31-MAR-06                31-MAR-05

<S>                                                                                             <C>                        <C>
Gross Revenues from sales                                                                         $7,980                         $0
Cost of sales                                                                                     (6,647)                         0
                                                                                           -------------              -------------
        Net Revenues from sales                                                                   $1,333                         $0

General and administrative expenses:
        General administration                                                                  $466,683                   $339,907
                                                                                           -------------              -------------
         Total general & administrative expenses                                                 466,683                    339,907
                                                                                           -------------              -------------

Net loss from operations                                                                       ($465,350)                 ($339,907)

Other revenues and expenses:
        Interest expense                                                                        (303,370)                   (17,161)
                                                                                           -------------              -------------

Net loss before provision for income taxes                                                     ($768,720)                 ($357,068)

Provision for income taxes                                                                             0                          0
                                                                                           -------------              -------------

Net loss                                                                                       ($768,720)                 ($357,068)
                                                                                           =============              =============

Basic & fully diluted net loss per common share:
                                                                                           -------------              -------------
 Loss per share                                                                                   ($0.00)                    ($0.00)
                                                                                           =============              =============

Weighted average of common shares outstanding:
 Basic & fully diluted                                                                       246,915,462                 86,857,114
</TABLE>



SEE THE NOTES TO THE FINANCIAL STATEMENTS.



                                       4
<PAGE>



                              EGPI FIRECREEK, INC.
                        (FORMERLY ENERGY PRODUCERS, INC.)
                 UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
            FOR THE QUARTERS ENDED MARCH 31, 2006 AND MARCH 31, 2005
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                  UNAUDITED             UNAUDITED
                                                                                                  31-MAR-06             31-MAR-05
<S>                                                                                             <C>                        <C>
Operating Activities:
 Net loss                                                                                         ($768,720)              ($357,068)
      Adjustments to reconcile net loss items
       not requiring the use of cash:
         Depreciation expense                                                                         8,935                       0
         Amortization of beneficial conversion feature                                               92,335                       0
         Consulting expense                                                                           5,407                 161,280
         Interest expense                                                                           211,035                       0
Changes in other operating assets and liabilities :
         Accounts receivable                                                                         (2,653)                      0
         Other receivable                                                                              (614)                      0
         Accounts payable and accrued expenses                                                      211,409                 198,167
                                                                                                  ---------               ---------
Net cash used by operations                                                                       ($242,866)                 $2,379

Investing activities:
        Purchase of equipment                                                                            $0                       0
                                                                                                  ---------               ---------
Net cash used by investing activities                                                                     0                       0

Financing Activities:
        Payment of capital lease                                                                          0                  (1,110)
        Issuance of common stock                                                                    100,000                       0
        Shareholder advances                                                                         (5,555)                      0
                                                                                                  ---------               ---------
Net cash provided by financing activities                                                            94,445                  (1,110)
                                                                                                  ---------               ---------

Net increase (decrease) in cash during the period                                                  (148,421)                  1,269

Cash balance at January 1st                                                                         149,962                   5,538
                                                                                                  ---------               ---------

Cash balance at March 31st                                                                           $1,541                  $6,807
                                                                                                  =========               =========

Supplemental disclosures of cash flow information:
     Interest paid during the period                                                               $303,370                  $1,574
     Income taxes paid during the period                                                                 $0                      $0

</TABLE>

SEE THE NOTES TO THE FINANCIAL STATEMENTS.



                                       5
<PAGE>



                              EGPI FIRECREEK, INC.
                        (FORMERLY ENERGY PRODUCERS, INC.)
       UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
             FOR THE PERIODS ENDED MARCH 31, 2006 AND MARCH 31, 2005
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                    COMMON              PAR            PAID IN         ACCUMULATED
                                                    SHARES             VALUE           CAPITAL           DEFICIT           TOTAL
<S>                                              <C>                  <C>            <C>             <C>                <C>

Balance at January 1, 2005                       220,913,500          $220,913       $15,878,127     ($20,547,650)      ($4,448,610)

Issuance of warrants                                                                       5,407                              5,407

Issuance of common stock                           4,000,000             4,000            96,000                            100,000

Conversion of preferred stock                     20,250,000            20,250         1,518,750                          1,539,000

Issued shares to pay equit line                   13,009,850            13,009           335,011                            348,020

Net loss for the period                                                                                  (768,720)         (768,720)
                                                ------------      ------------      ------------     ------------      ------------


Balance at March 31, 2006                        258,173,350          $258,172       $17,833,295     ($21,316,370)      ($3,224,903)
                                                ============      ============      ============     ============      ============



                                                     COMMON             COMMON          PAID IN        ACCUMULATED
                                                     SHARES           PAR VALUE         CAPITAL          DEFICIT            TOTAL

Balance at January 1, 2004                        75,247,968           $75,248        $6,388,767      ($8,726,593)      ($2,262,578)

Issued shares for services                         6,300,000             6,300           154,980                            161,280

Conversion of preferred stock                     16,898,300            16,898           150,112                            167,010

Net loss for the period                                                                                  (357,068)         (357,068)
                                                 -----------       -----------       -----------      -----------       -----------

Balance at March 31, 2005                         98,446,268           $98,446        $6,693,859      ($9,083,661)      ($2,291,356)
                                                 ===========       ===========       ===========      ===========       ===========
</TABLE>




SEE THE NOTES TO THE FINANCIAL STATEMENTS.


                                       6
<PAGE>



                              EGPI FIRECREEK, INC.
                        (FORMERLY ENERGY PRODUCERS, INC.)
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
            FOR THE QUARTERS ENDED MARCH 31, 2006 AND MARCH 31, 2005
                                   (UNAUDITED)

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..

In July 2004, the Company acquired all of the issued and outstanding shares of
Firecreek Petroleum Inc., a Delaware State corporation, for 20 million shares of
common stock, 2,566,831 shares of preferred A stock, and 9,500,000 shares of
preferred B stock.

In April 27, 2005, the Company increased its authorized common stock to
980,000,000 shares with par value of $.001. Twenty million of these shares are
non-voting.

In November 2005, the Company purchased a 50% working interest in The Ten Mile
Draw Field, a natural gas field located in Sweetwater County, Wyoming for
$1,089,130 for development of the reserves.

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

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 RECOGNITION- For its natural gas producing activities, the Company uses
successful efforts costing. Under successful efforts costing, certain
identifiable costs associated with the acquisition of properties and extraction
are capitalized and depreciated over the lesser of the depletion of the
productive assets or its useful life.

CASH- For the purpose of calculating changes in cash flows, cash includes all
cash balances and highly liquid short-term investments with original maturity
dates of three months or less.

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 lease & 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.


                                       7
<PAGE>



LONG LIVED ASSETS- The Company reviews for the impairment of long-lived assets
whenever events or changes in circumstances indicate that the carrying amount of
an asset may not be recoverable. An impairment loss would be recognized when
estimated future cash flows expected to result from the use of the asset and its
eventual disposition is less than its carrying amount.

DEBENTURES PAYABLE- The Company applies Emerging Issues Task Force (EITF) No.
98-5, ACCOUNTING FOR CONVERTIBLE DEBT ISSUED WITH BENEFICIAL CONVERSION
FEATURES. EITF No.98-5 requires that a beneficial conversion feature be
recognized upon the issuance of convertible securities with a favorable
conversion feature, and the resultant beneficial conversion feature be amortized
to interest expense during the period from the date of issuance to the date the
securities become convertible.

DISCONTINUED OPERATIONS- The discontinued business operations of IYSG are
summarized in the balance sheet as net liability from discontinued operations
and in the statement of operations as loss from discontinued operations.

INCOME TAXES- The Company accounts for income taxes in accordance with the
Statement of Accounting Standards No. 109 (SFAS No. 109), "ACCOUNTING FOR INCOME
TAXES". SFAS No. 109 requires an asset and liability approach to financial
accounting and reporting for income taxes. Deferred income tax assets and
liabilities are computed annually for differences between financial statement
and income tax bases of assets and liabilities that will result in taxable
income or deductible expenses in the future based on enacted tax laws and rates
applicable to the periods in which the differences are expected to affect
taxable income. Valuation allowances are established when necessary to reduce
deferred tax assets and liabilities to the amount expected to be realized.
Income tax expense is the tax payable or refundable for the period adjusted for
the change during the period in deferred tax assets and liabilities.

2.   NET LOSS PER SHARE

The Company applies SFAS No. 128, EARNINGS PER SHARE to compute net loss per
share. In accordance with SFAS No. 128, basic net loss per share has been
computed based on the weighted average of common shares outstanding during the
years. Diluted net loss per share gives the effect of outstanding common stock
equivalents in the form of warrants, convertible preferred stock, and
convertible debentures.

The effects on net loss per share of the common stock equivalents, however, are
not included in the calculation of net loss per share since their inclusion
would be anti-dilutive.

Net loss per common share has been computed as follows:

                                                31-MAR-06        31-MAR-05

           Net loss                              ($768,720)       ($357,068)
                                              ==============    =============


           Total shares outstanding             258,173,350       98,248,968
                                              ==============    =============

           Weighted average                     246,915,462       86,857,114
                                              ==============    =============

                                       8
<PAGE>

3.   COMMON AND PREFERRED STOCK TRANSACTIONS

During the quarter ended March 31, 2006, the Company issued 4,000,000 shares to
an investor and received proceeds of $100,000.

During the quarter ended March 31, 2006, the Preferred C shareholders converted
their shares to 20,250,000 shares of common stock. There is no more preferred
shares outstanding as of March 31, 2006.

During the quarter ended March 31, 2006, the Company issued 13,009,850 shares of
common stock to pay down the equity line of credit received in the last quarter
of fiscal 2005.

During the quarter ended March 31, 2005, the Company issued 6,300,000 shares of
common stock to pay $161,280 in fees for services rendered.

During the quarter ended March 31, 2005, debenture holders converted $167,010 of
debt to 16,898,300 shares of common stock.

4.   FIXED ASSETS- NET

The following is a detailed list of fixed assets:


                                                  31-MAR-06         31-DEC-05

           Well lease & equipment                   $601,000          $601,000
           Computer equipment & software              63,676            63,676
           Office equipment                           19,056            19,056
           Improvements & furniture                   30,166            30,166
           Accumulated depreciation                 (24,975)          (16,039)
                                                 ------------     -------------

           Net property & equipment                 $688,923          $697,859
                                                 ============     =============

5.   ISSUANCE OF WARRANTS

During the quarter ended March 31, 2006, the Company issued 5,500,000 warrants
to purchase common stock to consultants and recorded an expense of $5,407.

A list of warrants outstanding is as follows:
<TABLE>
<CAPTION>
                                                                       Wgtd Avg            Wgtd Years
                                                     Amount          Exercise Price        to Maturity

<S>                                                 <C>                  <C>                  <C>
Outstanding at January 1, 2005                      4,200,000            $0.96                2.64

Issued                                             36,575,000
Exercised                                           (313,000)
Expired                                             (400,000)
                                                --------------

Outstanding at December 31, 2005                   40,062,000            $0.37                3.24

Issued                                              5,500,000
Exercised                                                   0
Expired                                                     0
                                                --------------

Outstanding at March 31, 2006                      45,562,000            $0.37                3.24
                                                ==============
</TABLE>

                                       9
<PAGE>

6. INCOME TAX PROVISION

<TABLE>
<CAPTION>
       Provision for income taxes is comprised of the following:                             31-MAR-06       31-MAR-05
<S>                                                                                          <C>               <C>

          Net loss before provision for income taxes                                         ($768,720)        ($357,068)
                                                                                           ===========       ===========

          Current tax expense:
            Federal                                                                                 $0                $0
            State                                                                                    0                 0
                                                                                           -----------       -----------
            Total                                                                                   $0                $0

          Less deferred tax benefit:
            Timing differences                                                              (5,247,973)       (3,398,413)
            Allowance for recoverability                                                     5,247,973         3,398,413
                                                                                           -----------       -----------
            Provision for income taxes                                                              $0                $0
                                                                                           ===========       ===========

          A reconciliation of provision for income taxes at the statutory rate to
          provision for income taxes at the Company's effective tax rate is as
          follows:

          Statutory U.S. federal rate                                                               34%               34%
          Statutory state and local income tax                                                      10%               10%
          Less allowance for tax recoverability                                                    -44%              -44%
                                                                                           -----------       -----------
          Effective rate                                                                             0%                0%
                                                                                           ===========       ===========

          Deferred income taxes are comprised of the following:

          Timing differences                                                                $5,247,973        $3,398,413
          Allowance for recoverability                                                      (5,247,973)       (3,398,413)
                                                                                           -----------       -----------
          Deferred tax benefit                                                                      $0                $0
                                                                                           ===========       ===========
</TABLE>

          Note: The deferred tax benefits arising from the timing differences
          begin to expire in fiscal year 2010 and may not be recoverable upon
          the purchase of the Company under current IRS statutes.



                                       10
<PAGE>



ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

OVERVIEW

You should read the following discussion and analysis in conjunction with the
Consolidated Financial Statements in Form 10-KSB, Form 10-QSB and Notes thereto,
and the other financial data appearing elsewhere in this Form 10QSB Report.

The information set forth in Management's Discussion and Analysis of Financial
Condition and Results of Operations ("MD&A") contains certain "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the
Private Securities Litigation Reform Act of 1995, including, among others (i)
expected changes in the Company's revenues and profitability, (ii) prospective
business opportunities and (iii) the Company's strategy for financing its
business. Forward-looking statements are statements other than historical
information or statements of current condition. Some forward-looking statements
may be identified by use of terms such as "believes", "anticipates", "intends"
or "expects". These forward-looking statements relate to the plans, objectives
and expectations of the Company for future operations. Although the Company
believes that its expectations with respect to the forward-looking statements
are based upon reasonable assumptions within the bounds of its knowledge of its
business and operations, in light of the risks and uncertainties inherent in all
future projections, the inclusion of forward-looking statements in this report
should not be regarded as a representation by the Company or any other person
that the objectives or plans of the Company will be achieved.

In light of these risks and uncertainties, there can be no assurance that actual
results, performance or achievements of the Company will not differ materially
from any future results, performance or achievements expressed or implied by
such forward-looking statements. The foregoing review of important factors
should not be construed as exhaustive. The Company undertakes no obligation to
release publicly the results of any future revisions it may make to
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

The Company is currently focused on oil and gas activities in the following
areas: i) Development of our domestic interests acquired initially in Wyoming
for production of oil and primarily natural gas, and ii) pursuit of and
potential completion of projects overseas in Central Asian and European
countries; and further, the Company has been making presentations to asset-based
lenders and other financial institutions for the purpose of expanding and
supporting our growth potential by development of our oil and gas operations in
2006 with a goal to increase sales output of our Firecreek unit.

One of our ways our plans for growth could be altered if current opportunities
now available become unavailable:

The Company would need to identify, locate, or address replacing current
potential acquisition or strategic alliances with new prospects or initiate
other existing available projects that may have been planned for later stages of
growth and the Company may therefore not be ready to activate. This process can
place a strain on the Company. New acquisitions, business opportunities, and
alliances, take time for review, analysis, inspections and negotiations. The
time taken in the review activities, is an unknown factor, including the
business structuring of the project and related specific due diligence factors.

GENERAL

The Company historically derived its revenues primarily from retail sales of oil
and gas field inventory equipment, service, and supply items primarily in the
southern Arkansas area, from acquired interests owned in revenue producing oil
wells, leases, and equipment located in Olney, Young County, Texas, and in
December 2003, from our acquisition of commercial and private leisure marine
vessel sales brokerage and charter business,


                                       11
<PAGE>

International Yacht Sales Group, Ltd. Of Great Britain. The Company disposed of
the first two segments of operations in 2003 and disposed of the third segment
in 2005. We accounted for the segments as discontinued operations in the
consolidated statements of operations for the related fiscal year.

Effective July 1, 2004 we acquired Firecreek Petroleum, Inc., and its subsidiary
Firecreek Romania, SRL. Firecreek is an international oil exploration and
development company specializing in the niche market of rehabilitation and
enhancement of existing oilfields through modern management and state of the art
technological applications. Management individually has many years of experience
and has one or more collectively been involved in oil and gas operations
worldwide. Throughout 204 and 2005, through the Firecreek Petroleum unit, we
have i) developed relationships and prepared for potential acquisitions in
Romania and Libya, and ii) through our alliance with Sahara, we have developed
additional potential projects for acquisition that are located in Russia,
Romania, Kazakhstan, Ukraine, and Turkey (see additional information in section
on "The Business" in Form 10-KSB for the fiscal year ended 2005 filed on April
14, 2006, and incorporated herein by reference).

Effective November 15, 2005, Firecreek Petroleum purchased a 50% undivided
interest in leases, wells, equipment, gas and to a lesser extent oil reserves,
and other rights, located in Sweetwater County, Wyoming. The project is listed
under the prospect name "Ten Mile Draw" ("TMD"). We have commenced with gas
production and are contemplating additional drilling and workover programs. For
further information see the section on "The Business" in Form 10-KSB for the
fiscal year ended 2005 filed on April 14, 2006, and incorporated herein by
reference.

The Company expects to incur an increase in operating expenses during the next
year from commencing the described activities related to its plans for Firecreek
Petroleum oil and gas operations. The amount of net losses and the time required
for the Company to reach and maintain profitability are uncertain at this time.
There is a likelihood that the Company will encounter difficulties and delays
encountered with business subsidiary operations, including, but not limited to
uncertainty as to development and the time and timing required for the Company's
plans to be fully implemented, governmental regulatory responses to the
Company's plans, fluctuating markets and corresponding spikes, or dips in our
products' demand, currency exchange rates between countries, acquisition and
development pricing, related costs, expenses, offsets, increases and
adjustments. There can be no assurance that the Company will ever generate
significant revenues or achieve profitability at all or on any substantial
basis.

On December 31, 2003 through our exchange merger acquisition with International
Group Holdings, Ltd., as amended, a commercial and private leisure marine vessel
sales brokerage and charter business, International Yacht Sales Group, Ltd. of
Great Britain ("IYSG") and all of its divisions, as a wholly owned subsidiary of
the Company. Divisions of IYSG include but are not limited to International
Yacht Sales Brokerage and Charter ("IYSBC"), Emedia8 ("E8"), International
Marine Services ("IMS"), International World Realty ("IWR"), International Boat
Sales ("IBS"), and International Commercial Shipping ("ICS").

At December 1, 2004, management elected to impair the book value of its
long-lived assets since estimates of future cash flows attributable to these
assets could not be assured. Consequently, management recognized $1,344,617
impairment expense in the consolidated statement of operations.

On December 31, 2005 the majority of the Board of Directors of the Company
elected to dispose of its wholly owned subsidiary, International Yacht Sales
Group, Ltd. (IYSG) of United Kingdom. The results of operations for these
segments are included in "loss from discontinued operations" in the consolidated
statements of operations for fiscal 2005.

General Statement:  Factors that may affect future results:

                                       12
<PAGE>

With the exception of historical information, the matters discussed in
Management's Discussion and Analysis of Financial Condition and Results of
Operations contain forward looking statements under the 1995 Private Securities
Litigation Reform Act that involve various risks and uncertainties. Typically,
these statements are indicated by words such as "anticipates", "expects",
"believes", "plans", "could", and similar words and phrases. Factors that could
cause the company's actual results to differ materially from management's
projections, forecasts, estimates and expectations include but are not limited
to the following:

~    Inability of the company to secure additional financing.

~    Unexpected economic changes in the United States.

~    The imposition of new restrictions or regulations by government agencies
     that affect the Company's business activities.

To the extent possible, the following discussion will highlight the Company's
business activities for the quarters ended March 31, 2006 and March 31, 2005.

I. RESULTS OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2006 VS. THREE MONTHS ENDED MARCH 31, 2005.

There was $7,980 in revenues generated from the Company's gas lease production
activities ramping up in the last two weeks in March 2006 for Q1 2006 compared
to no revenues in Q1 2005. Revenues commenced mid March 2006 from the first of
two workover wells completed and on production in the Ten Mile Draw project in
southern Wyoming. Operating costs of $ 6,647 produced a net profit of $1,333. Of
the operating costs, $4,849.95 thereof is a non recurring expense.

General and administrative expense for Q1 2006 increased to $466,683 compared to
$339,907 in Q1 2005, an increase of 27%. Most of the increase was due to travel
and research into possible new business ventures.


DETAIL OF GENERAL & ADMINISTRATIVE EXPENSES:


                                            31-MAR-06         31-MAR-05

Advertising & promotion                          $1,038          $15,644
Administration                                   14,882           22,445
Consulting                                       62,625           30,968
Depreciation                                      8,935                0
Professional fees                               100,910           60,454
Rent & storage                                   25,010           56,716
Relocation                                       14,800                0
Research                                         83,686           77,662
Salaries & benefits                             100,192           17,099
Taxes                                             8,110            1,904
Telephone                                        15,200           17,927
Travel costs                                     31,295           39,088

                                         ---------------    -------------
Total                                          $466,683         $339,907
                                         ===============    =============


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<PAGE>



Consulting fees of $62,625 were incurred during investigations into acquiring
profitable business enterprises.

Professional fees of $100,910 were incurred in regards to legal costs,
accounting, securing financing, and the acquisition of leads and contacts with
regard to possible new business ventures.

Payroll and taxes of $108,302 was used for Firecreek Petroleum operations.

Rent and Utilities of $25,010 was used for office lease expenses in Fort Worth,
Texas for the Firecreek Petroleum operations.

Travel costs of $31,295 were in connection with signing of agreements,
negotiating contracts and arranging potential financing for potential projects
in Wyoming, other areas domestically, and in Ukraine, and other overseas
countries.

After deducting general and administrative costs, the Company experienced a loss
from operations of $465,350 for the three months ended March 31, 2006 compared
to an operating loss of $339,907 for the same period last year.

Interest expense increased in the three months ended March 31, 2006 to $303,370
compared to $17,161 for the same period last year. Most of the increases in
interest is due to the increased borrowing in the last quarter of 2005.

Consulting and professional fees increased approximately $75,186 in Q1 2006
compared to Q1 2005.

Net loss for Q1 2006 was $768,720, or $0.04 per share compared to a loss of
$357,068, or $0.00 per share for Q1 2005.

DISCUSSION OF FINANCIAL CONDITION:  LIQUIDITY AND CAPITAL RESOURCES

At March 31, 2006 cash on hand was $1,541 as compared with $149,962 at December
31, 2005. During the period the Company paid $5,555 to shareholders.

At March 31, 2006, the Company had working capital deficit of $3,570,751
compared to a working capital deficit of $3,357,901 at December 31, 2005.
Working capital decreased mainly as a result of operating losses.

Total assets at March 31, 2006 were $696,481 as compared to $850,580 at December
31, 2005.

The Company's total stockholders' deficit decreased $1,223,707 from December 31,
2005 to $3,224,903 at March 31, 2006. Stockholders' equity decreased by $768,720
from operating losses in Q1 2006. In addition, the Company issued 13,009,850
shares of common stock valued at $348,020 as payment against a line of credit
and preferred C stock was converted to 20,250,000 shares of common stock.

ITEM 3.  CONTROLS AND PROCEDURES

Our Chief Executive Officer and Chief Financial Officer have evaluated as of the
last day of the period covered by this report, the effectiveness of the design
and operation of our disclosure controls and procedures (as defined in Rule
15d-15 under the Securities Exchange Act of 1934). This evaluation was carried
out under the supervision and with the participation of our management,
including our principal executive officer and principal financial officer. Based
on this evaluation, these officers have concluded that the design and operation
of our disclosure controls and procedures are effective.

There were no changes in the Company's internal control over financial reporting
(as defined in Rule f13a-15 under the Securities Act of 1934) during the quarter
ended March 31, 2006 that has materially affected, or is reasonably likely to
materially affect, the Company's internal control over financial reporting.

                                       14
<PAGE>


                           PART II. OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

None

ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Required information has been furnished in Form 8-K filings and other reports,
as amended, during the period covered by this Report and additionally as listed
and following.

On January 30, 2006, EGPI Firecreek, Inc. approved the extension and
modification of an advisory agreement with Mr. Steven Antebi. As a part of the
consideration for extending the agreement the Company granted Mr. Antebi a
warrant to purchase 4,000,000 shares of the Company's common restricted stock
underlying the warrant. Terms for the warrant include a three year term and a
strike price of $.05 per share. The warrants were issued pursuant to an
exemption from registration as provided in Section 4(2) of the Securities Act of
1933. For further information and terms related to the warrant please see
Exhibit 10.1 attached to a Current Report on Form 8-K filed on February 3, 2006
and incorporated herein by reference.

On March 1, 2006, the Company entered into an Advisory Service Agreement with
consultant Joseph M. Vasquez and agreed to issue three year warrants for Mr.
Vasquez to purchase an aggregate of 1,500,000 shares of common stock including
terms as follows: (a) warrants to purchase 500,000 shares at $.022 per share;
(b) warrants to purchase 500,000 shares at $.06 per share; and (c) warrants to
purchase 500,000 shares at $.12 per share. All shares underlying the warrants
shall be restricted shares. The warrants were issued pursuant to an exemption
from registration as provided in Section 4(2) of the Securities Act of 1933. For
further information and terms related to the warrant please see the Advisory
Services Agreement and the warrant exhibits thereto attached on Exhibit 10.1 to
our Current Report on Form 8-K/A filed on March 17, 2006 and incorporated herein
by reference.

On April 21, 2006, the Company issued a convertible debenture with a face value
of $171,875 to pay an incentive fee to the holder of the equity credit line
Dutchess Private Equities Fund, L.P. The debenture became convertible at the
date of the issuance and matures in April 21, 2011. The debenture was issued
pursuant to an exemption from registration as provided in Section 4(2) of the
Securities Act of 1933. For terms of the debentures please see information
furnished in Exhibit "A" to Exhibit 99.1 furnished in our Current Report on Form
8-K filed on April 27, 2006, and incorporated herein by reference.

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None

ITEM 5 - OTHER INFORMATION

The Company and its Firecreek unit are presently in different stages of review
and discussion, gathering data and information, and any available reports on
other potential acquisitions in Texas, and other productive regions and areas in
the U.S. as well as overseas.

                                       15
<PAGE>


The Registrant is working towards securing financing to drill five new gas wells
and the workover of an existing gas well on its Ten Mile Draw field. The first
workover well was on production on March 14, 2006 and the second workover well
is expected on full production in early May 2006.

Financing for proposed deployment of planned oil and gas operations in several
overseas locations is proceeding slowly as international negotiations are
extremely time consuming.

In the Company's Form 10-KSB for the fiscal year ended December 31, 2005 we
reported via our operator that well workover development overrun charges for
wells 16-1 and 7-16 for the Ten Mile Draw project were estimated at $250,000,
related to harsh winter environment causing schedule changes, equipment
failures, and other associated area delays and conditions. As of May 2, 2006 the
Company has fully paid its share of the overage charges in the amount of
$263,000.

From time to time Management will examine oil and gas operations in other
geographical areas for potential acquisition and joint venture development.

ITEM 6 - EXHIBITS

EXHIBIT NO.                DESCRIPTION

31.1      Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of
          2002 (3)

32.1      Certification Pursuant to 18 U.S.C. SECTION 1350 (3)


                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                          EGPI FIRECREEK, INC.

                          /s/ Dennis Alexander
                          ---------------------
                          By: Dennis Alexander
                          Title:  Chairman, Principal Executive Officer and CFO


Date:  May 15, 2006




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