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).

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Primeline Energy Holdings Inc

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Post by cupricityon May 22, 2014 11:03am

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Post# 22587155

Russian Gas

Couple of things missing from the deal announcement- for starters they announced they could not agree on a price- now they announce the price is secret. And the price is tied to crude oil. If I was a betting man this deal will fall apart as soon as things calm down in the Ukraine as Russian gas is costly to extract. Even if it does work out they will not be shipping gas for 5 or 6 years of everything goes as planned- which rarely happens in Russian industries- and our gas is due to to be shipped in a couple of months.
Also most importantly our gas is Chinese gas, and there is a lot more of it where we are looking.

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