Primeline Energy Holdings Inc V.PEH.H

Primeline and Husky against CNOOC

[Alpha230000]

Is this the article? It's from early May but is an interesting article....especially to learn that Husky is in the same position as Primeline - in terms of breach of contract by CNOOC

https://www.scmp.com/business/commodities/article/1940529/husky-and-primeline-legal-threats-against-cnooc-put-spotlight

[kenbar1]

This article was in the Financial Post last week.  It mentions that CNOOC have not honoured their contracts with Husky and Primline and that the Canadian Govt. is concerned about this. If you do a Google Search using only Primeline Energy, select Search Tools then Anytime at the left. Choose Past Week and it should be the second item starting with Dispute.  Hope this helps.

[Alpha230000]

Thanks kenbar1. I found it and yes it is interesting that even the federal government has been talking about it. I hope there is a favorable resolution.

[kenbar1]

Can you attach this to a Post so others can see it.  Thanks.

[Alpha230000]

https://business.financialpost.com/news/energy/dispute-between-cnooc-and-toronto-listed-husky-and-primeline-could-impact-china-canada-trade?__lsa=9fdd-80c6

[timvestor]

It's good to hear of PEH and HSE going up against CNOOC but what are the odds of an outcome that results in success for PEH? Even if they win what will the business relationship be like going forward and can they do business together.

[kenbar1]

On June 5th Primeline announced that they were going ahead with the 2nd phase of the exploration contract, covering the next 2 years, even though they announced arbitration on May 15th.

[funkyschnitzel]

I'm running on the assumption that this is merely a business practice, and not as antagonistic as it might seem.  CNOOC has conflicting interests here, they have assets and investments on both sides of this equation. Zheijiang Gas wasn't paying the bills.  PEH therefore can't pay their own bills.  CNOOC, given the conflict of interest, is in a difficult spot in terms of