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Primeline Energy Holdings Inc V.PEH.H

Energy Oil & Gas E&P
Primeline Energy Holdings Inc. (Primeline) is a Hong Kong-based company engaged in the exploration of oil and gas properties located in China. The Company owns exploration and development rights in the East China Sea pursuant to two Petroleum Contracts, one in relation to Block 25/34 (Petroleum Contract 25/34) and one in relation to Block 33/07 (Petroleum Contract 33/07). The Company has approximately 36.75% interest in the producing LS36-1 gas field in Block 25/34 which comprises an offshore area of approximately 84.7 square kilometers. Primeline is the operator of the Petroleum Contract with China National Offshore Oil Corporation (CNOOC) for Block 33/07. Block 33/07 covers an offshore area of approximately 5,877 square kilometers (1.45 million acres), enclosing Block 25/34. The Company's subsidiaries include Primeline Energy China Limited (PECL) and Primeline Energy Operations International Limited (PEOIL).


TSXV:PEH.H - Post by User

Primeline Energy Holdings Inc
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Comment by TCupon Sep 08, 2014 1:34pm
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Post# 22916224

RE:RE:Is This Another Sino Forest?

RE:RE:Is This Another Sino Forest?My concern is basically the monies owned CNOOC. The 4 month extension looks ok but is it ok and to top it off, the bank loan is now a syndicate of 2 and looking for a 3rd. What happens if there is no 3rd? Massive share dilution? Can PEH pull this off or will the 'I owe yous' come home to roost? Big big unknowns usually equals big big risk. Your feedback appreciated.
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