Interline Resources (IRCE) is a twenty year old midstream, natural gas and oil development company. Interline's current assets include a twenty eight (28) mile pipeline commonly known as the "well draw gas plant field gathering pipeline system."
The pipeline is located in Converse and Niobrara counties Wyoming. Interline also owns four shut in oil and gas wells in the region. The region also includes significant shale exploration. Interline will investigate the viability of the pipeline to service the shale exploration in the region.
In November 2010, the Company's, the sole remaining board member and only executive and employee, Mr. Mike Williams, appointed a new three member board of directors to take control of the company. Thereafter, Mr. Williams resigned from the board of directors and as the only executive of the Company. Additionally, Mr. Williams sold his shares as the largest percentage shareholder.
The new board consists of an experienced oil and gas engineer, an MBA, CPA and a business attorney. A new president and treasurer now serve the company. The new management compiled information on the existing assets and liabilities and immediately paid the most pressing liabilities.
The company's immediate plans include retaining a qualified firm to inspect the pipeline to determine its viability for repair to transport natural gas. The company expects the pipeline to be pressure tested and a report issued to guide the company on how best to use the asset.
Additionally, the company expects to retain qualified personnel to examine the oil and gas wells to determine their capacity to be reworked and the costs associated with bringing the wells on line and up to production.
The Company looks forward to learning more about its assets and their viability. The new management plans to exhaust all liabilities, minimize overhead and maximize the existing assets.
Mr. McZeal is the CEO of Interline Resources Corporation and a 16 year commercial litigator. From 2000 - 2010 Managing partner in the law firm of Grealish & McZeal LLP in Houston, Texas. Mr. McZeal attended Southwestern University, Georgetown, Texas where in May 1991 he earned his B.A. Degree in Finance and Business. He then set his sights on the South Texas College of Law, Houston, Texas where he excelled and earned his Doctor of Jurisprudence Degree by May 1995 he was admitted to Texas Bar; U.S. Court of Appeals for the Fifth Circuit, U.S. District Court for the Western Districts of Texas and Southern District of Texas.
Roger A. T Smith
With over 30 years deep water drilling, completion, work over and production experience with a B.A. in Mechanical Engineering. Mr. Smith is the CEO of The Sanday Corporation and is an advisor to Schlumberger, Petrohawk and K&M Technology Group. He has provided consulting review for the acquisition targets of PGI Energy, and is an invaluable resource to the board.
George Ian Smith
Mr. Smith is a CPA with over 10 years experience in auditing and accounting. Mr. Smith worked for companies such as Ernst and Young, BP, and Waste Management. His expertise is in financial reporting and accounting. He received his MBA in 2001 and currently lives in the Houston with his wife and children.
IRCE Daily Chart
IRCE Weekly Chart
IRCE Point and Figure
IRCE Security Details
|Market Value1 ||$506,323 ||a/o Nov 09, 2012 |
|Shares Outstanding ||253,161,346 ||a/o Oct 03, 2012 |
|Float ||133,161,346 ||a/o Oct 03, 2012 |
|Authorized Shares ||2,000,000,000 ||a/o Dec 28, 2011 |
|Par Value ||0.005 |
|Shareholders of Record ||246 ||a/o Oct 03, 2012 |
| ||Ex. Date ||Record Date ||Pay Date |
- New Issue=11-88 9,000,000 shs in units (1 sh Com, 1 Class A Warr 6-24-90 & 1 Class B Warr 6-24-91) at 1 cent per unit (best efforts-4,500,000 min.) by the company
- Capital Change=10-24-90 shs decreased by 1 for 10 reverse split
August 3, 2012
Interline Resources Corporation Announces a 90 Day Exclusive Listing Agreement for the Sale of Its 28 Mile Natural Gas Pipeline HOUSTON, TX, Aug 03, 2012 (MARKETWIRE via COMTEX) -- Interline Resources Corporation (PINKSHEETS: IRCE) executed a 90 day exclusive agreement with an energy listing company to facilitate the sale of the approximately 28 mile well draw gas plant field gathering pipeline system. The listing company will assist the Company in identifying prospective purchasers and in analyzing, structuring, negotiating and effecting proposed transactions for the sale of the pipeline.
Please contact the Company with any questions, comments or interests in the above referenced matters. www.interlineresourcescorp.com & firstname.lastname@example.org SOURCE: Interline Resources Corporation
Interline Resources Corporation email@example.com
JUNE 21st 2012
Interline Resources Corp. Announces the Listing For Sale its 28 Mile Natural Gas Pipeline
Jun 21, 2012 OTC Disclosure & News Service
Houston, TX -
Since acquiring Interline Resources Corporation, new ownership and management evaluated all of the Companies' 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 re investing 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& firstname.lastname@example.org
Interline Resources Corp. Announces New Board and Management Team
Jan 29, 2012
OTC Disclosure & News Service Houston, TX - INTERLINE RESOURCES CORPORATION ANNOUNCES COMPLETELY NEW BOARD OF DIRECTORS, MANAGEMENT TEAM AND
$5 MILLION CAPITAL RAISE
Interline Resources, a twenty year old midstream, natural gas and oil development company, announces a completely new board of directors, new management team and plans for its pipeline and oil well assets.
The company's former board of directors and officers resigned and a new board of directors and was appointed.Thereafter, new officers were hired. New company management addressed immediate outstanding liabilities and compiled the company's assets for evaluation.
Those assets include a 28 mile natural gas pipeline and several oil and gas wells. The company plans to retain qualified experts to prepare an assessment of the pipeline and oil wells to determine the feasibility to put these assets back into production. The assessment includes, but is not limited to, an evaluation and inspection of the assets to determine cost for repair, testing and re-working. Additionally, Interline will investigate the viability of the pipeline to service the shale exploration in the region.
The company, also, secured a $5Mil. equity line agreement with AGS Capital Group, Inc. which may be utilized, if and after, successful filing of a Regulation A offering or S-1 registration statement.
Visit us at: http://interlineresourcescorp.com/index.html
Media & Investor Relations:
Interline Resources Corporation
2100 W. Loop South, Ste. 900
Houston, Texas 77027
NATURAL GAS HAS BOTTOMED !!! Look at daily chart above! LOOK AT LONG TERM MONTHLY CHART OF NATURAL GAS!!! IT HAS BOTTOMED.!! WILL ALLOW IRCE TO RESUME A NEW BULL MARKET AS WELL! THE LONG TERM CHART OF IRCE ABOVE LOOKS VERY BULLISH. THE QUARTERLY IS SETTING UP FOR A HUGE NEW BULL MARKET BUY SIGNAL ON THE TRANSFER IN TIME FROM JUNE TO JULY ! .
IRCE has previously spiked to an intraday high of $2.85 which took about 1 to 2 years depending on when initial position was started.
What A Chart >> http://stockcharts.com/h-sc/ui?s=IRCE&p=D&b=5&g=2&id=p27580768730 A BRIEF REVIEW ABOUT IRCE
PIPELINE AREA http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83463484
IRCE DD Yields Book Value .0063, $5M L.O.C.
1) 238M O/S, 118M Float As of September 05, 2012
2) $1.5M in assets, $0 in debt, yields book value of .0063
3) Main asset is 28 mile 6" steel pipeline.
4) New management as of January 2012, has decided to sell the pipeline to use the proceeds for brand new business here.
REASONS TO LIKE IRCE: NO DEBT (VERY UNCOMMON IN PINKYLAND), LOW FLOAT, GOOD ASSETS, R/M OR J/V AS A BUSINESS PLAN, SOLID ASSETS FOR SALE, SOLID BACKING TO THE TUNE OF $5M. SPECULATIVELY PPS .02 IS NEAR $5M MARKET CAP, SERIOUS LOOKING MANAGEMENT TAKEOVER
AAAtrades;charting scenario pps runs.
2006 .006 to $0.45 / 2007 0.06 to $3.00 / 2012 .003 to $0.10