News

Primeline Announces Grant of Stock Options

July 27th, 2011
View PDF

Primeline Energy Holdings Inc. (“Primeline” or the “Company”) (TSXV: PEH) today announced that the Board of Directors of the Company, based on the recommendations of the Compensation Committee, has today granted stock options to directors, officers, employees and consultants to purchase a total of 2,100,000 common shares at $0.32 per share exercisable until July 27, 2016 under its “rolling 10%” option plan. There were presently 9,404,124 shares reserved for issuance under the plan, and 5,929,124 now remain. The options vest as to one third immediately, one third on July 27, 2012, and one third on July 27, 2013. The granting of the stock options is subject to acceptance for filing by the TSX Venture Exchange.

About Primeline Energy Holdings Inc.

Primeline is an exploration and development company focusing exclusively on China resources to become a major supplier of gas and oil to the East China market. Primeline has a 75% Contractor’s interest and is the operator for exploration in the Petroleum Contract with CNOOC for Block 25/34, an offshore exploration area of 5,221 km2 in the East China Sea. Primeline also has a 36.75% interest in the LS36-1 gas field in Block 25/34 which is being developed by Primeline together with CNOOC (acting as Operator for the development) and Primeline Petroleum Corporation. CNOOC is proceeding with the preparation of the development and Primeline is leading the exploration effort currently focused on the prospects in the 3D seismic data area where a number of high potential prospects near the LS36-1 development have been mapped and where the LS35-3-1 discovery (drilled in 2010) is located. The new LS35-3-1 discovery and previously drilled wells in and around Block 25/34 encountered oil and gas shows and flows indicating that there is significant hydrocarbon potential in the remainder of the Block. Shares of the Company are listed for trading on the TSX Venture Exchange under the symbol PEH.

ON BEHALF OF PRIMELINE ENERGY HOLDINGS INC.

Ming Wang
Chief Executive Officer

CONTACT:
PRIMELINE ENERGY HOLDINGS INC.

Dr. Ming Wang
CEO
Phone: +44 207.499.8888
Fax: +44 207.499.2288
Toll Free: 1.877.818.0688
Email: IR@pehi.com

CHF INVESTOR RELATIONS
Robin Cook
Senior Account Manager
Phone: +1 416.868.1079 ext. 228
Fax: +1 416.868.6198
Email: robin@chfir.com

Please visit the Company’s website at www.pehi.com. Should you wish to receive Company news via email, please email lauren@chfir.com and specify “Primeline Energy” in the subject line.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.