|  | | |
| |   | |
| Company Profile
Summary in Chinese
Company History
Board of Directors
Management Team
Corporate Directory
Investor Relations | Primeline is an independent oil and gas exploration and production company focusing exclusively on upstream opportunities in China. Primeline's shares are listed on the TSX Venture Exchange under the symbol "PEH".
Primeline owns a 75% interest in Block 25/34, an area of 5,221 sq km in the East China Sea, which it holds under the Petroleum Contract entered into with CNOOC. (parent company of CNOOC Limited, www.cnoocltd.com). Primeline is also developing the Lishui 36-1gas field within the Block with CNOOC and Primeline Petroleum Corp. This gas field is the subject of an overall development program which has been finalised by Primeline and CNOOC. Under various development agreements which have been entered into, CNOOC has been appointed the Operator for the development and production operations relating to the Lishui 36-1 gas field only and Primeline is the Operator for all exploration operations. Primeline has identified several related prospects in the area surrounding the discovery which comprise the Lishui Gas Play and has started to explore those prospects. The Lishui Gas Play represents only 15% of the Block and hydrocarbon potential has also been identified in the remainder of the Block.
Primeline's gas field and nearby prospects are ideally located for development, being only 110 km from the coast of Zhejiang Province, part of the fast growing economy of East China. Wenzhou City, with 8 million people in its environs, is 140 km from the discovery and is one of the most dynamic cities in China. A provincial grid is currently being developed within Zhejiang Province, presenting an exciting opportunity to Primeline as it enables it to sell its gas into a rapidly expanding market.
|
|
