Primeline Files 2018 Annual Result and Account
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HONG KONG, July 25, 2018 (GLOBE NEWSWIRE) -- Primeline Energy Holdings Inc. ("Primeline" or the "Company") (TSXV:PEH) today announced that it has filed its annual audited financial statements for the year ended March 31, 2018 and related management discussion and analysis, and its annual reserve audit by McDaniel. Copies of these documents may be obtained at under Primeline’s profile or on Primeline’s website at
About Primeline Energy Holdings Inc.
Primeline is an exploration and production company focusing exclusively on China natural resources to become a major supplier of gas and oil to the East China market. Primeline has a 100% Contractor's interest in, and is the operator of, the petroleum contract with CNOOC for Block 33/07 (4,397sq km) and a 49% interest in the producing LS36-1 gas field in Block 25/34, together with CNOOC (51% interest and acting as Operator). Both blocks are in the East China Sea. LS36-1 has been in production since July 2014. 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”
Ming Wang
Chief Executive Officer
CONTACT:
Primeline Energy Holdings Inc.
Dr. Ming Wang
CEO
Phone: +44 207.499.8888
Toll Free: +1 877.818.0688
Email:
FronTier Merchant Capital Group
Mr. Robin Cook
1411-1 King street West
Toronto, Ontario, M5H 1A1
Tel: 416.809.1738
Email:
Please visit the Company’s website at . Should you wish to receive Company news via email, please email 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. A number of these statements relate to the Company’s expectations with respect to the outcome of its arbitration action with CNOOC. However, they also relate to issues which might arise before the conclusion of the arbitration, such as: the financing of, and the results of, the Company’s exploration programme; assumptions that production and sale from LS36-1 will proceed in accordance with the Gas Sales Contrac and other relevant agreements. Although these statements are based on assumptions management believes to be reasonable, actual results may vary from those anticipated in such statements. Sufficient cash flow and/or external finance may not be available to the Company for exploration and it may then be in breach of its obligations under Petroleum Contract 33/07). The arbitration may not be successful. Zhejiang Gas may not comply fully with its obligations under the Gas Sales Contract. Any such event may materially and adversely affect Primeline’s financial position. Exploration for oil and gas is subject to the inherent risk that it will not result in a commercial discovery.
Neither the 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.
