|Primeline Energy Holdings Inc. ("Primeline" or "the Company") is an independent oil and gas exploration and production company focusing exclusively on upstream opportunities in China, aiming to become a major supplier of gas and oil to the East China market. Primeline's shares are listed on the TSX Venture Exchange under the symbol "PEH".|
Primeline owns exploration and development rights in the East China Sea pursuant to two Petroleum Contracts, one in relation to Block 25/34 ("Petroleum Contract 25/34") and the other in relation to Block 33/07 ("Petroleum Contract 33/07"). The petroleum contacts were entered into between China National Offshore Oil Corporation ("CNOOC"), a Chinese State Oil Company, Primeline Energy China Ltd. ("PECL"), a wholly owned subsidiary of Primeline, and Primeline Petroleum Corporation ("PPC") an affiliated company wholly owned by Mr. Victor Hwang, chairman and majority shareholder of Primeline.
CNOOC, Primeline and PPC are developing the LS36-1 gas field under Petroleum Contract 25/34, which is expected to be on stream in Q3 2013 to supply gas to Zhejiang Province on the East China coast. In the meantime, Primeline is continuing with exploration under Petroleum Contract 33/07, aiming to expand the future production level, anchored on the LS36-1 gas field production facility.
May 03, 2013
Primeline Announces Appointment of Interim CFO ( more )Apr 16, 2013
Primeline Appoints Vincent Lien as Non-Executive Director ( more )Apr 05, 2013
Primeline Obtains Additional Working Capital Facility ( more )