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Interline Resources Executes Management Services Agreement With NorthCut Refining LLC September 17, 2007 |
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Monday September 17, 9:00 am ET ALPINE, Utah, Sept. 17 /PRNewswire-FirstCall/ -- Interline Resources Corporation (OTC: IRCE - News) has finalized its operating and services agreement with PCG Midstream LLC. Under the agreements NorthCut Refining LLC will be operated by personnel provided by Interline Resources but employed as NorthCut Refining employees. Interline Resources will provide pipeline support for the refinery and provide all accounting and operational considerations for NorthCut LLC. PCG Midstream LLC will earn a 25% interest in the refinery after payout. PCG Midstream LLC will not be compensated with any warrants or options of Interline Resources stock. The refinery is under intense site construction activity and is currently on schedule for a late 07 December startup.
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Last Updated ( Monday, 15 October 2007 10:03 )
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