Additional - $8 million in
Annual Revenue
Management Agreement for Waste Water Company in
Southern California
CALGARY,
Feb. 12, 2013 /CNW/ - Ridgeline
Energy Services Inc. ("Ridgeline" or the "Company") (TSXV: RLE,
OTCQX: RGDEF, FSE: RL7) an energy services and water treatment
technology company, today announced a Management Agreement with
13TONS, LLC ("13TON").
Effective October 1,
2012, Ridgeline entered into a Management Contract for the
management of waste water collections in California. Ridgeline became responsible for
administration, management, sales, water treatment, and all other
functions of the business whose primary purpose is to collect waste
water for treatment, extraction of by-products and management of
beneficial feed stock. Ridgeline and 13TON are currently
negotiating an asset purchase which is expected to be completed and
in effect, by March 15, 2013, The
Management Agreement may be extended if necessary.
13TON specializes in the management and
collection of several different types of waste water including
interceptor, grease trap, food processing, and large footprint
waste water sites. The company primarily operates in California, Arizona and Nevada, but has brokerage operations
nationwide.
Annual revenues at 13TON are currently over
$8 million per year and are expected
to grow. The combination of; 13TON's collection network,
Ridgeline's water treatment technology and discharge permits
provide for a synergistic opportunity to grow revenues. Both
Santa Fe Springs and the recently
announced Consolidated Water Treatment of Missouri facility will be positively impacted
by additional water treatment revenues delivered by the 13TON's
collection network.
Ridgeline will also benefit greatly from the
management experience of Ben Maese
who has built 13TON over these many years. Ben is a certified
public accountant and is one of the most experienced professionals
in the waste water industry in California, Nevada, and Arizona.
"We are very pleased to watch our California
Division grow to nearly $20 million
dollars in annualized revenue, with this Management
Agreement. Having Ben Maese's
experience and strong counsel will allow Ridgeline to expand
operations into other properties, sooner than later", stated Dennis
M Danzik, Ridgeline's Director of Engineering and Operations.
Tony Ker,
Ridgeline CEO stated, "It is great to continue to watch our
Santa Fe Springs property grow
organically, but when we can absorb large blocks of business, like
13TON and concurrently add infrastructure for additional growth, we
will act swiftly".
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is an energy
services and water treatment technology company. The Company is
applying proprietary technology to treat water generated from
industrial and commercial waste water markets. These markets
include a wide variety of clients across a broad spectrum of
industries including oil and gas. Through its environmental
consulting and remediation divisions, Ridgeline Environment has
built a reputation as an established provider of environmental
services to the Western Canadian oil and gas industry. Ridgeline
GreenFill provides soil remediation and wet waste disposal services
to the oil and gas industry. The Company trades on the TSX
Venture Exchange under the symbol "RLE", the OTCQX as "RGDEF" and
the Frankfurt Stock Exchange as "RL7".
ON BEHALF OF THE BOARD OF DIRECTORS
"Tony Ker"
Tony Ker
CEO
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reliance on forward-looking information, as no assurances can be
given as to future results, levels of activity or
achievements."
SOURCE Ridgeline Energy Services Inc.