Kerr Energy Contracts Will Be Direct With Ridgeline
Ridgeline to Add $ 4.5 Million
in Annual Revenue
CALGARY AND
SCOTTSDALE, AZ, April 25, 2013 /CNW/ - Ridgeline Energy Services
Inc. ("Ridgeline" or the "Company") (TSXV: RLE, OTCQX: RGDEF,
FSE: RL7) a technology driven company operating in the waste
water industry, today announces a Management Agreement with Kerr
Energy ("Kerr") of Midland, Texas.
Ridgeline will provide contracting services for the collection,
treatment and disposal of oil and gas flowback and produced waste
water in the Midland Texas
area. Ridgeline projects growth due to the Agreement of about
$ 4.5 Million annually.
The purpose of The Management Agreement is to
allow RLE to manage KERR while a regulatory and due diligence audit
is completed, and a definitive agreement to purchase all of the
outstanding interest of KERR by RLE is drafted. The Agreement took
effect on April 22nd.
KERR holds interests in certain contracts for
the treatment and post processing sale of waste water in several
key locations in the Midland
market. RLE has been under contract and working with KERR on a
subcontract basis. RLE will now assume all current business of KERR
and sign contracts directly with the oil and gas producers.
In addition, Ian
Kerr will join Ridgeline as General Manager of our Midland
Operations which includes eastern New
Mexico.
Dennis M. Danzik,
Ridgeline CEO, stated. "It has been a great experience working with
Ian Kerr on our ever expanding
opportunities in western Texas
and eastern New Mexico. Ian
brings decades of experience and I am confident that he will build
out our Midland Operations with great care, and will continue to
build profitability. Having Ian on board fulltime as management in
a rapidly growing market, is a real confidence builder. Ridgeline
also benefits by now getting the direct contracting rights with
some substantial new customers."
Mr. Kerr, will be establishing fulltime offices
for Ridgeline in Midland in June.
The office in Midland will manage
water treatment based services and Ridgeline Facility management as
well as expanded sales and operations staff.
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is a technology
driven company operating in the waste water industry. 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
"Dennis Danzik"
Dennis Danzik
CEO
"Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. This news release
may contain forward-looking statements. Forward-looking statements
address future events and conditions and therefore, involve
inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.
Such information is subject to known and unknown risks,
uncertainties and other factors that could influence actual results
or events and cause actual results or events to differ materially
from those stated, anticipated or implied in the forward-looking
information. Readers are cautioned not to place undue
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.