Primeline Energy Holdings Inc.: Term Sheet for Settlement of Debt Becomes Binding

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Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSX VENTURE:PEH)
today announced that the term sheet under which Primeline has agreed to issue
US$6.7 million of unsecured Convertible Bonds to its Chairman and President, Mr
Victor Hwang in settlement of the existing interest free working capital loan
previously made available by Mr Hwang to the Company, announced on June 10,
2013, has now become binding. The term sheet was previously made subject to
independent shareholder approval but there is an exemption from such requirement
under TSX Venture Exchange Rules so the terms have been amended to delete such
requirement. The issuance of the Bonds to Mr Hwang will nevertheless remain
conditional on receipt of all necessary regulatory approvals. 


Primeline also announced the resignation of Brian Chan as its corporate
secretary. Mr. Chan will remain as a member of the Company's board of directors.
Mr. Andrew Biggs, the Company's Senior Vice President and General Counsel, will
replace Mr. Chan as secretary.


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 in and is the operator of the
petroleum contract with CNOOC for Block 33/07 (5,877 sq km) in the East China
Sea and a 36.75% interest in the LS36-1 gas field in Block 25/34 which is being
developed by CNOOC Limited (acting as Operator for the development) together
with Primeline and Primeline Petroleum Corp. ("PPC"). 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

Please visit the Company's website at www.pehi.com. Should you wish to receive
Company news via email, please email [e-mail] and specify "Primeline
Energy" in the subject line.


Forward-Looking Statements

Some of the statements in this news release contain forward-looking information,
which involves inherent risk and uncertainty affecting the business of
Primeline. These statements relate to Primeline's expectation that it will
obtain required regulatory approvals for the settlement of debt with Mr. Hwang.
Although these statements are based on assumptions management believes to be
reasonable, actual results may vary from those anticipated in such statements.
Primeline may be unable to obtain the necessary regulatory approvals. If
Primeline is unable to obtain such approvals and the debt owed to Mr. Hwang
becomes due, Primeline may have to curtail or cease its operations. Exploration
for oil and gas is subject to the inherent risk that it will not result in a
commercial discovery.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Primeline Energy Holdings Inc.
Dr. Ming Wang
CEO
+44 207.499.8888 or Toll Free: 1.877.818.0688
+44 207.499.2288 (FAX)
[e-mail]
www.pehi.com


CHF Investor Relations
Robin Cook
Senior Account Manager
+1 416.868.1079 ext. 228
+1 416.868.6198 (FAX)
[e-mail]