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PEH Primeline Energy Holdings Inc

0.01
0.00 (0.00%)
01 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Primeline Energy Holdings Inc TSXV:PEH TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.01 0.005 0.01 0 00:00:00

Primeline Energy Holdings Inc.: LS36-1 Gas Field Development Completed

02/07/2014 6:55pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES, OR DISSEMINATION IN THE UNITED
STATES


Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSX VENTURE:PEH)
today announced that the development of its LS36-1 gas field ("Development") has
been completed and it is ready for commissioning and first gas production.


As previously announced, the last part of the development work was the laying of
the last 3 km of the gas sales pipeline, connection to the provincial gas grid
and final commissioning. The construction of the final 3 km of gas sales
pipeline was completed on 26th June 2014 and CNOOC, as operator, has confirmed
that the final connection to the facility of the downstream buyer, Zhejiang
Provincial Gas Development Co. was completed on July 1 2014. The final joint
commissioning programme is in the process of being agreed by CNOOC and Zhejiang
Gas and it is expected that trial gas production will start soon. A separate
announcement will be made when gas production commences. 


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 (5,877sq 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 Corporation. Shares of Primeline 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 bren@chfir.com 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 the expected date for the commencement of
gas production. They are based on assumptions that joint commissioning of the
production facility will be completed on a timely basis, and that gas production
will commence soon. The joint commissioning may not be completed on a timely
basis, the first gas production may exceed those expected. 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)
IR@pehi.com


CHF Investor Relations
Robin Cook
Senior Account Manager
+1 416.868.1079 ext 228
+1 416.868.6198 (FAX)
robin@chfir.com


VSA Capital Limited
Andrew Raca
Head of Corporate Finance
+44 203 005 5000
ARaca@vsacapital.com

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