February 18, 2005, London, England. Primeline Energy Holdings Inc. (TSX Venture: PEH) (“Primeline” or the “Company”) is pleased to announce that Primeline and China National Offshore Oil Corp. (“CNOOC”) have agreed in principle to sign a new petroleum contract covering the current retained area of Block 32/32 and the surrounding area, including the Lishui 36-1 gas discovery after the term of the current Petroleum Contract with CNOOC expires on February 28, 2005. Primeline expects to conclude the negotiation of the new contract, including defining the contract area and other contract terms, in the current quarter.
The Company’s shares are listed on the TSX Venture Exchange under the symbol ‘PEH’.
Primeline Energy Holdings Inc.
For More Information Please Contact:
Primeline Investor Relations
Tel. + 44 20 7501 0688
Fax. + 44 20 7501 0699
Toll Free: 1 877 818 0688
Web Site: www.primelineenergy.com
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