The wait for the 90-day period since Interline Resources Corp. (IRCE) agreed with an unnamed energy listing company sell its one asset, a 28 mile well draw gas plant field gathering pipeline system, is coming to its due date. Traders are already anticipating a huge spike in IRCE stock by jumping in on Friday. The much needed sale, if it should happen, will be huge for the company which had just $80 in the bank as of September 30, 2012.
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IRCE Stock Chart
Market Cap: 506.32K
Close: 0.002, up 0.0015 (300.00%)
Dollar Volume: $92,065
Average Trade Size: 382,635
Issued and Outstanding: 253,161,346
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The $80 in the bank, as per the most recent financial update from Interline Resources, is a huge improvement to the $0 they reported having as of March 31, 2012. The $80 is roughly enough for the press release of the sale of their $300,000 book value asset remaining since the Company took a $1.22 million impairment charge during 2012 for their other assets.
The unnamed energy listing company supposedly is already producing in the Converse County, Wyoming. If and when there is a successful sale of the pipeline, Interline Resources has no clear determination as to what will be done with any funds received, but has indicated their plans t possibly pursue reinvesting in shut-in oil wells, if feasible.
About IRCE Stock
Interline Resources Corp. is a natural gas and oil development company whose current assets include a 28 mile pipeline commonly known as the “well draw gas plant field gathering pipeline system,” which is located in Converse and Niobrara counties Wyoming.
Bottom Line: If you’re already in IRCE, buckle up cause this week is gonna be a wild ride for the penny stock. Traders eyeing IRCE stock should consider that it has a snowball’s chance in the deepest of gas lines to make it back to its 0.099 high from April. A penny would be huge if momentum and kool-aid can push this, but entry and exit points will be readily available for the coming weeks as the pitcher is just being stirred.
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