for line in intersect:
        cmd=""" grep "CHECKOUT_REVISION" |cut -d'"' -f2"""%fst_directory
        cmd_test=os.system(cmd)

this is a test


another line

CHECKOUT_REVISION this must be stored

some other things
CHECKOUT_REVISION another line to store

#!/usr/bin/env python

# path to the file to read from
my_file = "/home/eday/test.txt"
# what to look in each line
look_for = "CHECKOUT_REVISION"
# variable to store lines containing CHECKOUT_REVISION
temp = []

with open(my_file, "r") as file_to_read:
    for line in file_to_read:
        if look_for in line:
            temp.append(line)

# print the contents of temp variable
print (temp)

$ ['CHECKOUT_REVISION this must be stored', 'CHECKOUT_REVISION another line to store']

result = []
for line in open('filename'):
    if 'CHECKOUT_REVISION' in line:
        result.append(line.split(''"'')[1])

some lines
CHECKOUT_REVISION="revision one"
some other lines
CHECKOUT_REVISION="revision two"
other lines

revision one
revision two

#!/usr/bin/env python

import sys

pattern = sys.argv[1]
fileName = sys.argv[2]

# variable to store lines containing CHECKOUT_REVISION
count=0
temp = []

with open(fileName, "r") as file_to_read:
    for line in file_to_read:
        if pattern in line:
           #IN case you want to have number of hits
           count=count+1
           temp.append(line)

# print the contents of temp variable

for i in range(count):
    print (temp[i].rstrip())

python "pattern" thisScript.py