HOUSTON, TX — (Marketwire) — 06/21/12 — Since acquiring Interline Resources Corporation (PINKSHEETS: IRCE), new ownership and management evaluated all of the Company–s assets, 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 invest, 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:
interlineresourcescorp.com