IRCE - Oil & Natural Gas stock.
Interline Announces Commissioning of NorthCut Refinery
ALPINE, Utah, Oct. 14 /PRNewswire-FirstCall/ -- Interline Resources Corporation (Pink Sheets: IRCE) today announced that NorthCut Refinery has begun operations.
A spokesman for Interline Resources stated, 'The first deliveries of crude oil to the refinery site began Saturday, October 11, 2008. This has been a long-awaited event for the NorthCut team. Difficulty in obtaining operating credit and delays in securing a gas line connection necessary for furnace operation put us behind schedule, but we are now postured to see production results.'
The refinery is located 20 miles north of Douglas, Wyoming in the energy rich Powder River Basin and has been designed to make use of 5,000 barrels per day of local crude oil supplies and to provide products needed in local markets.
Note: The statements released by Interline that are not purely historical are considered to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within Interline's control. These factors include, but are not limited to, economic conditions generally and in the markets in which Interline may participate, competition within Interline's markets and failure by Interline to successfully develop business relationships.
SOURCE Interline Resources Corporation
Source: PR Newswire (October 14, 2008 - 8:04 AM EDT)
Still a nice high risk to reward looking CHART.
JUNE 21st 2012 NEWS
Interline Resources Corporation Announces the Listing for Sale of Its 28 Natural Gas Pipeline
06/21/2012 @ 6:00AM
Interline Resources Corp (PL) (IRCE)
0.002 0.0009 (81.82%) @ 9:31AM
Interline Resources Corporation Announces the Listing for Sale of Its 28 Mile Natural Gas Pipeline
Interline Resources Corp (PL) (USOTC:IRCE)
Today : Thursday 21 June 2012
Since acquiring Interline Resources Corporation (PINKSHEETS: IRCE), new ownership and evaluated all of the Company's, including and specifically, the approximately 28 miles of the natural gas pipeline, compressor stations and real property associated with the pipeline. The evaluation was to determine how to maximize the value of the asset and its supporting components. After considering many factors, the Company decides to list for sale the approximately 28 miles of the 6 inch diameter natural gas pipeline, accompanying compressor stations and the supporting real property. The Company will target energy companies already producing in the Converse County, Wyoming region to determine their level of interest in acquiring the asset.
Upon a successful sale of the pipeline, the Company is considering a number of options with respect to the use of the sale proceeds. Those options include investing, acquiring or creating a joint venture in existing entities with a demonstrable revenue stream. While the Company will target energy companies in which to , acquire or joint venture with, the Company will consider using the sale proceeds for companies outside of the energy sector if the opportunity and prospects for a greater return warrants such investment. Additionally, the company will explore reinvesting in the shut-in oil wells, if feasible. There is no guarantee the revenue generated from the sale of the pipeline will support bringing the shut-in oil wells on line.
The Company continues to minimize overhead in order maximize the use of revenues upon receipt. The Company will provide timely updates on the listing for sale of the pipeline and any developing relationships with operable, productive entities, once and if they occur.
Please contact the Company with any questions, comments or interests in the above referenced matters:
IRCE ready to make another big move VERY SOON