Interline Resources Executes Management Services Agreement With NorthCut Refining LLC
ALPINE, Utah, Sept. 17 /PRNewswire-FirstCall/ — Interline Resources Corporation 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.
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.
Interline Resources Corporation
CONTACT: Michael R. Williams of Interline Resources Corporation,+1-801-756-3031, fax, +1-801-756-8843, mikew@Interlineresources.com
Web site: http://www.interlineresources.com/
