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Interline Announces NorthCut Supply/Product Services Contract |
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Interline Announces NorthCut Supply/Product Services Contract
Wednesday January 7, 8:00 am ET ALPINE, Utah, Jan. 7 /PRNewswire-FirstCall/ -- Interline Resources Corporation (Pink Sheets: IRCE - News) announced today that it has teamed with Tauber Oil Company of Houston, Texas and executed a long-term contract for crude oil supply and marketing services. Mike Williams, President of Interline Resources Corporation stated, "We at Interline Resources are very pleased with this contract that allows our NorthCut Refinery to begin operations on a solid foundation with the assistance of a company having the strong reputation and resources that Tauber has. This agreement which has been in the planning and negotiation stages for two months is as important to NorthCut as the completion of the refinery itself. With the recent volatility of crude oil prices, finished product prices, and the uncertainty of the banking industry, it has been difficult for NorthCut as a startup to secure the necessary credit instruments to facilitate purchases of crude oil as feedstock for the refinery. This agreement assures NorthCut of a continuous supply of crude oil required to meet operational needs at various refinery capacities." At the same time, this agreement brings Tauber's experience and expertise in marketing of finished products into play. Tauber will purchase NorthCut's products for distribution into a much broader marketplace than NorthCut could access by itself. We feel strongly that this is a win-win situation for both companies by giving Tauber a presence in the Rocky Mountain Region and NorthCut access to broader, more lucrative markets. The construction of the NorthCut Refinery outside of Douglas, Wyoming was completed in the fall of 2008 and production testing was completed in December. All operating personnel are fully trained and the facility is ready to go into sustained production. Products meeting full specifications were produced during testing and have filled on-site finished product storage tanks at the facility and are ready for sale. Concurrent with this contract, Private Capital Group, the lender of construction and initial operating funds has issued an extension of the existing forbearance agreement from January 1, 2009 to March 31, 2009. This will allow NorthCut the opportunity to meet its debt servicing requirements from true operational profits. 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. www.interlineresources.com |
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NorthCut Refining Progress Blog Update 08-01-2008 |
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Our Construction Progress Blog has the latest posted pictures of the finished NorthCut Refinery. We have updated this blog from the beginning of May. You can Access this blog by clicking here. or by pasting the following address into your web browser http://northcutrefining.com |
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Last Updated on Friday, 01 August 2008 21:14 |
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Interline Announces Completion of NorthCut Refinery 07-28-08 |
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Click Here for full press release. Interline Announces Completion of NorthCut Refinery ALPINE, Utah – (PRNewswire-FirstCall) July 28, 2008 - Interline Resources Corporation (OTC:IRCE): today announced that it has completed construction of the NorthCut Refinery in Converse County, Wyoming. In making the announcement, Michael Williams, Interline Resources CEO stated “We are very pleased that the NorthCut Project is ready for full operation after one year of construction. The commitment and excellence of our team of employees and contractors in bringing this project to completion cannot be overstated. The facility has been undergoing full testing of all systems during the last month. And the only activities underway are paving of road and loading surfaces, as well as painting of storage tanks.” The refinery is a 5,000 bbl/day topping refinery which is intended to make full use of local crude supplies and produce off-road diesel and virgin gasoline (naphtha) for use in local markets. Williams stated that “We are in the process of purchasing approximately 50,000 bbl of crude on the spot market for August in order to begin limited production until all negotiations and contracts are completed for both crude supplies and buyers of our products.” 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. |
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Last Updated on Tuesday, 29 July 2008 13:53 |
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News Article on Interline Published 07-09-2008 |
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US Business Review has recently published an article on Interline Resources Corp. To read this article please click here or copy and paste the following link into your browsers address bar. http://www.usbusiness-review.com/content/view/949/ |
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Last Updated on Wednesday, 09 July 2008 18:47 |
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WallSt.net Announces Upcoming Interview with CEO of Interline Resources. Wednesday December 5, 9:30 am ET |
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NEW YORK, Dec. 5 /PRNewswire/ -- Michael Williams, Chief Executive Officer of Interline Resources Corporation (Pink Sheets: IRCE - News; http://www.interlineresources.com) will be featured in an exclusive interview with www.wallst.net scheduled for December 6 at 12 p.m. EST. The interview will be posted on http://www.wallst.net by 8 p.m. EST on December 6. The interview will cover topics including NorthCut Refining LLC, used oil refining, and corporate competitive edges. To hear the interview in it's entirety, click http://www.wallst.net/audio/audio.asp?ticker=IRCE&id=4239 About Interline Resources: Interline Resources Corporation participates in five areas of business: used oil re-refining, natural gas gathering, NGL fractionating, Crude Oil Refining, crude oil gathering, and exploration/production. Interline has commercialized a novel proprietary technology for refining used oil worldwide. For more information about Interline Resources Corporation, please visit http://www.interlineresources.com. About WallSt.net: www.wallst.net is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. The Website is a leading provider of timely business news, executive interviews, multimedia content, and research tools. Financial Media Group, Inc. also owns http://www.mywallst.net, a financial social network for investors, Financial Filings Corp., a provider of compliance solutions to publicly traded companies, and WallStRadio, a business and finance podcast Website. Financial Filings Corp. is expecting to receive two hundred eighty dollars from Interline Resources Corporation for the dissemination of this press release. For a complete list of our advertisers and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.asp. Contact: WallSt.net 800-4-WALL-ST
Source: Financial Filings Corp. |
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Last Updated on Thursday, 27 December 2007 20:21 |
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