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Primeline Energy Holdings Inc V.PEH


Primary Symbol: V.PEH.H

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

Post by pehupon Feb 14, 2013 1:43pm
246 Views
Post# 20989738

On time on budget - undervalued under followed

On time on budget - undervalued under followed

CNOOC continues to work in order to insure  that the “Development” is on schedule with production commencing in Q3’2013, providing Primeline with estimated, by the McDaniel and Associates, cash flow of approximately $40 million, which would equal current market capitalization of the Company of $42.8 million.

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