Securities and Exchange Commission
WASHINGTON D.C 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
THE SECURITIES EXCHANGE ACT OF 1934
June 25, 2002
Date of Report
(Date of earliest event reported)
INTERLINE RESOURCES CORPORATION
(Exact name of Registrant as specified in its charter)
Utah 0-18995 87-0461653
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State of Incorporation Commission File No. IRS Employer Identification No.
160 West Canyon crest Rd.
Alpine, UT 84004
(Address of principal executive offices)
801.756.3031
(Registrant's telephone number)
Item 5. Other Events
On June 22, 2002, a major fire erupted at the Well Draw Gas Processing
Plant (the Plant), owned and operated by Interline Energy Services, Inc. (IES),
a wholly owned subsidiary of Interline Resources Corporation (the Company). The
fire occurred when natural gas liquids released from a truck preparing to unload
at the Plant were ignited by a truck idling nearby. The fire spread to the
product storage tanks and eventually to the processing area through a series of
explosions. The fire continued to burn in portions of the plant through June 24,
2002, when it was extinguished by company personnel working with the local fire
department and Wyoming State Fire Marshal's office. The Company resumed
operations on a severely limited scale on June 30, 2002.
No one was injured in the incident, however, serious property damage
resulted from the fire and associated explosions. Damage to the Company's
equipment included: complete destruction of the product storage facilities
(approximately 420,000 gallons), truck loading and unloading racks, two trucks
and two processing/fractionation towers; partial destruction of Plant process
piping, control systems, pumps and pipeline injection equipment; structural
damage to several Plant buildings; and other damage not yet identified.
Additionally, trucks and tractors belonging to 3 other companies were destroyed
in the fire and damage was done to a nearby shop and utility building belonging
to an outside party.
The company was temporarily without property insurance covering the Plant.
However, the Company believes it is not at fault for the fire or any of the
resulting damage and the Company will seek reimbursement from the party
responsible for the fire. The Company is unable to predict what affect the fire
will have on the Company's revenue from operations over the next three to four
quarters inasmuch as the greatest portion of the Company's revenues are
generated by the Plant and trucking operations which are closely aligned with
operation of the Plant. Furthermore, our ability to re-build the Plant is
contingent on our ability to recover the value of the damage property from the
party responsible for such damage. We are unable to predict if we will be able
to obtain such reimbursement of the time which will be required to obtain such
reimbursement.
SIGNATURE
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: July 5, 2002
INTERLINE RESOURCES CORPORATION
By: /s/Michael R. Williams
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Michael R. Williams
Chairman, Chief Executive Officer
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