|Primeline Energy Holdings Inc. ("Primeline") is an independent oil and gas exploration and production company focusing exclusively on upstream opportunities in China with shares listed on the TSX Venture Exchange under the symbol "PEH".|
Primeline owns exploration and development rights in the East China Sea via two Petroleum Contracts - 25/34 and 33/07 - with China National Offshore Oil Corporation ("CNOOC"), a Chinese State Oil Company. Our aim is to become a major supplier of gas and oil to the East China market.
Under Petroleum Contract 25/34, CNOOC and Primeline have developed the LS36-1 gas field on stream since July 2014 to supply gas to Zhejiang Province. Production has averaged 23.3mmcfpd since early September. It is estimated that the project finance loan will be drawn down and CNOOC repaid by the end of November 2014 and Primeline and PPC expect to receive a significant amount of income for their shares of the sales revenue at that point.
In addition, Primeline is continuing exploration activity under Petroleum Contract 33/07, aiming to expand the reserves with any consequent production utilising the LS36-1 gas field infrastructure.
Primeline Corporate Video CN
Nov 18, 2014
Primeline Signs Project Finance Contract ( more )Nov 06, 2014
Primeline Confirms Project Finance ( more )Oct 16, 2014
Notice of Meeting with Information Circular 2014 ( more )Jul 30, 2014
Primeline Files Annual Accounts And Updates Reserve Report ( more )Jul 21, 2014
Trial Production Of LS36-1 Gas Field Commenced ( more )